North Dakota Money Broker Bond
AmeriPro Surety Bonds | 844-589-9732
North Dakota Money Broker License
North Dakota money brokers are licensed and regulated by the state’s Division of Financial Institutions.
The operations authorized under this license include encompass a wide range. These include:
- First or second lending or brokering;
- Reverse mortgages;
- Student loan broker or lending;
- Consumer lending;
- Tax refund anticipation lending;
And other professions.
To be licensed, you are also required to show evidence of obtaining a $50,000 surety bond. Upon purchase of your bond, our agency will file it to NMLS on your behalf.
We offer this bond for both first time applicants and those who wish to renew with our agency.
Qualifying and the Premium
You are automatically approved for the $50,000 North Dakota money broker bond. This is because there is no credit check, nor a review by an underwriter.
The premium to you is just $375, annually, which ¾ of 1%.
When you call us, we’ll ask of you the following:
- The name, exactly as it should appear on your surety bond to be filed to NMLS;
- We’ll also request your address, email, and phone number
After payment of the premium, $375, our agency will file your bond on your behalf to NMLS.
The address for your bond’s obligee is:
State of North Dakota, Department of Financial Institutions
2000 Schafer Street, Suite G
Bismarck, North Dakota 58501
Premium Prepayment Options
Your money broker bond renews annually on the anniversary of its issuance. You also have the option to prepay your bond up to 3 years, which will saves money over annual renewals.
The premium prepayment options and savings are as follows:
- If prepaid for 2 years, the premium is $675, a $75 savings over annual renewals;
- If prepaid for 3 years, the premium is $975, a $150 savings over annual renewals.
Purpose of Your Surety Bond Requirement
Your money broker bond is a financial guarantee for the state of North Dakota, consumers, and the Division of Financial Institutions that you will be in compliance with all regulations and laws concerning your professional duties.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide mortgage-related surety bonds nationwide.
Our agency is also a provider of license and permit, court, probate, and other surety bonds in North Dakota and all 50 states.
Please call us today at:
Or, you may fill out the form below and a Surety Agent will contact you…