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Hawaii Mortgage Servicer License Bond

by | Nov 11, 2019 | License & Permit Bonds

The $100,000 Hawaii mortgage servicer license bond will cost approved applicants $750 annually. Please call AmeriPro Surety Bonds: 844-589-9732

Hawaii Mortgage Servicer License Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Mortgage Servicers – Hawaii

 

 

 

Hawaii mortgage loan servicers are regulated by the state’s Division of Financial Institution, Department of Commerce and Consumer Affairs. The filing of your license is facilitated through NMLS, the Nationwide Mortgage Licensing System.

A requirement of licensing is that you obtain a $100,000 surety bond, which our agency offers for less than 1%.

 

 

 

Qualifying and the Premium

 

 

 

Qualifying for the $100,000 Hawaii mortgage servicer license bond includes:

  • Completion of a surety bond application. Our agency will begin the application with you online so that it’s partly filled, but you will need to complete and sign the application – -and have it witnessed. The application does not need to be notarized;
  • Undergoing a standard review by an underwriter which includes a credit check.

Applicants will need good credit in order to be approved through our agency. The annual premium is ¾ of 1%, $750.

Once the premium has been paid, our agency issues you your surety bond which will be accompanied by a Power of Attorney (POA) form. You will sign your bond as Principal and file both items to:

Division of Financial Institution

Department of Commerce and Consumer Affairs

P.O. Box 2054

Honolulu, HI 96805

 

 

 

Premium Prepayment Options

 

 

 

At $750 premium, the Hawaii mortgage loan servicer bond is active for one year, thereafter the bond renews along with the premium.

You also have the option to prepay your bond up to 3 years. Prepayment of the premium allows you to save over renewing annually, while lengthening the time between renewals.

The premium prepayment option and savings are as follows:

  • If prepaid for 2 years, the premium is $1350, a $150 savings;
  • If prepaid for 3 years, the premium is $1950, a $300 savings.

 

 

 

Purpose of Your Surety Bond

 

 

 

The purpose of your surety bond is to serve as a financial guarantee of your compliance with §454M of the Hawaii Revised Statute, as also any amendments to this statute.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide mortgage related surety bonds nationwide. We are also a provider hundreds of other license and permit surety bonds in all 50 states.

Please call our agency today at:

 

844-589-9732

 

Or, you may fill out the form below and an agent will contact you shortly…

 

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