The New Hampshire Banking Department, which licenses and regulates mortgage brokers, requires a $50,000 surety bond as a prerequisite for licensing.
Once issued, the mortgage broker license authorizes you to handle first and second mortgage brokering.
While NH mortgage brokers are licensed by the Department, the application and filing of your paperwork are accomplished through NMLS, the Nationwide Mortgage Licensing System.
You are automatically approved for the $50,000 New Hampshire mortgage broker bond. This is because after an application --- which we’ll take from you over the phone --- and payment of the $375 premium, our agency issues this bond to you immediately.
Note that unlike many other surety bonds, there is no credit check review by an underwriter in order to qualify and be approved.
Once the bond is issued, it is immediately sent to you for filing. Upon receipt, you’ll sign your bond as Principal and file it along with the Power of Attorney form that we’ll mail to you.
The banking department address is:
State of New Hampshire, Banking Department
53 Regional Drive, Suite 200
Concord, NH 03301
The $375 premium associated with your New Hampshire mortgage broker bond renews annually on the anniversary of its issuance.
There is also the option to prepay your bond up to 3 years, thereby saving you over annual renewals and lengthening the time between renewals.
The premium prepayment option and savings are as follows:
Your surety bond is a financial guarantee of your compliance with New Hampshire Revised Statutes Annotated 397-A, as also any future amendments to this legislation.
AmeriPro Surety Bonds is a surety bonds-only agency which provides mortgage broker surety bonds nationwide.
We are also a provide of license and permit surety bonds in all 50 states.
Please contact our agency today:
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