While your Kansas supervised licensing and surety bond are required by the Office of the State Bank Commissioner, the filing of your surety and other licensing requirements are accomplished through NMLS, the Nationwide Mortgage Licensing System.
Once purchased, our agency can electronically file your surety bond to NMLS on your behalf.
The Kansas supervised lender bond amount is determined in the following manner:
Qualifying is by completion of a surety bond application --- which we can begin with you over the phone – by which will require your signature before being submitted to an underwriter for a credit review, along with a copy of your most recent financial statement (a financial statement will not be needed for the $100,000 surety bond amount).
Approval for this bond through our agency is contingent upon good credit. If you are approved, you will be approved at a rate of ¾ of 1% of the amount of your surety bond.
Once the premium for this bond if you choose to file the bond on your own, we'll mail you the signed surety bond to the address of record.
Your annual premium of less than 1% for the Kansas supervised lender bond renews annually on the anniversary of the surety bond’s issuance.
Options exist to prepay your surety bond for up to 3 years, thereby offering you a savings over annual renewals of your premium.
As an example, a $100,000 surety bond prepaid for 2 or 3 years will have the following premiums and savings:
Other supervised lender surety bond amounts have proportionate savings for prepayment.
Your surety bond is a financial guarantee of your compliance with relevant sections of the Uniform Consumer Credit Code and the Kansas Mortgage Business Act.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Kansas.
Our agency also provides surety bonds nationwide.
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