Alaska Mortgage Broker/Lender License Bond
AmeriPro Surety Bonds | 844-589-9732
Alaska Mortgage Broker/Lender Licensing
The state’s Department of Commerce, Community & Economic Development, Division of Banking & Securities, regulates mortgage brokers and lender in Alaska.
Your licensing and $75,000 surety bond are electronically filed through NMLS, the Nationwide Mortgage Licensing System.
Upon the purchase of your surety bond, our agency will electronically submit it to NMLS on your behalf.
Qualifying and the Premium — What To Expect
Qualifying for the $75,000 Alaska mortgage broker/lender license bond involves the following:
- Completion of a short surety bond application. We’ll begin this with you over the phone, completing much of the information with you; however, you will need to sign and have witnessed (notary is not required) your application;
- Undergoing an underwriter review of your app. This review includes a credit check inquiry. Good credit will be required for approval through our agency.
Upon approval, your surety bond will have an annual premium of just $563 a year. Once the approval is granted and the premium paid, our agency will electronically file your bond to NMLS.
As a note, the name on your surety bond should exactly match any non-surety bonds paperwork you’ll also be submitting.
Premium Prepayment Options
The $563 premium associated with your mortgage broker or mortgage lender bond is for one year. Our agency also offers you the option to prepay your bond’s premium up to 3 years.
Premium prepayment saves you over annual renewals while lengthening the time between renewals. The premium prepayment options – and savings – are as follows:
- If prepaid for 2 years, the premium is $1013, a $113 savings;
- If prepaid for 3 years, the premium is $1464, a $225 savings.
Purpose Of Your Bond Requirement
The surety bond requirement is a financial guarantee which ensures your compliance with Alaska Statutes, Chapter 06.60. This is also known as the [Alaska] Mortgage Lending Regulation Act.
AmeriPro Surety Bonds provides mortgage industry-related surety bonds nationwide. Our agency is also a provider of license and permit, court, probate, and other surety bonds in Alaska and all 50 states.
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