The mortgage loan originator bond falls into one of two categories:
Within those two categories, the bond is further divided by the amount of surety bond required, which is based on your production levels.
AmeriPro Surety Bonds provides the required surety bond you need for compliance.
For a Michigan mortgage loan originator company:
For a Michigan mortgage loan originator individual:
The bond will have an expiration date of December 31st, regardless of when the bond is purchased. That may, however, be December 31st of a the same year or December 31st of a following year, depending on the bond’s effective date.
The premium will typically be between 1-5% of the bond’s amount; however, the amount that you will pay will be determined by the following considerations and so may vary:
As our homepage states, we are committed to finding you the best pricing for your bond.
Whether the bond is required of you as an individual or your company, its purpose is a financial guarantee for the people of the state of Michigan that you will be in compliance with all rules and statutes governing mortgage loan origination.
More specifically, this refers to the Michigan Mortgage Loan Originator Licensing Act of 2009.
The bond protects the people of the state of Michigan against acts of fraud, theft, or criminal malfeasance in the professional conduct of a licensed loan originator.
AmeriPro Surety Bonds only agency providing license and permit, contractor, court, and fiduciary surety bonds throughout Michigan.
We work to get you the best surety bond pricing for your bond.
Please call our agency today at:
Or, you may fill out the form below and an agent from our surety agency will contact you…