For applicants of the Missouri mortgage broker bond, a $50,000 bond is offered to you with no credit check. Amounts between $75,000 to $100,000 may also qualify for pricing without a credit inquiry. We are confident you will be pleased. Please call AmeriPro Surety Bonds today at: 844-589-9732.
Mortgage loan brokers in Missouri are regulated by the state’s Division of Finance department.
Registration and the filing of the surety bond are accomplished through NMLS, the Nationwide Mutlistate Licensing System.
AmeriPro Surety Bond offers you some great pricing options for this bond. We can also file the bond for you through NMLS.
The amount of the Missouri mortgage broker bond you are required to file will be contingent upon the dollar amount of loans brokered, funded, and serviced in the prior calendar year; new applicants must file a $50,000 surety bond.
The surety bond amount breakdown is as follows for 2019:
For $7.5 million or less, the amount for all three categories is $50,000 surety bond;
Between $7,500,000 to $15 million: Loans Brokered: $50,000, Loans Funded: $100,000, Loans Serviced: $100,000
Between $15,000,001 to $22.5 million: Loans Brokered: $75,000, Loans Funded: $150,000, Loans Serviced: $100,000
Between $22,500,001 to $30 million: Loans Brokered: $100,000, Loans Funded: $200,000, Loans Serviced, $200,000
Between $30,000,001 to $45 million: Loans Brokered: $150,000, Loans Funded: $300,000, Loans Serviced, $300,000
All applicants for the $50,000 Missouri mortgage broker surety bond will pay the amounts discussed below in the next section, and without a credit inquiry. This is done after completion of a surety bond application, and payment of the premium.
After completion of the surety bond application, the $50,000 Missouri mortgage brokerage bond will cost you just $375 annually.
Additionally, this surety bond may be prepaid for up to 3 years with the following premium amounts:
Again, no, there is no credit check involved; this is for all applicants of the $50,000 Missouri mortgage broker surety bond.
If you require a Missouri mortgage broker surety bond between $75,000 to $100,000, you may qualify without a credit check and flat surety bond pricing if you meet certain conditions regarding criminal history, insolvency, bankruptcy, and length of time in business. For those who qualify, this will offer a substantial savings.
If you do not meet all of these conditions, then you will be subject to the standard underwriting along with a credit check and may still obtain great pricing.
Speak with our Surety Agent for complete details regarding qualifications and pricing.
Applicants for Missouri mortgage broker surety bonds $150,000 and above will be subject to standard underwriting criteria, along with a request for financial statements. You will still obtain impressive pricing.
The purpose of your mortgage broker bond is a financial guarantee which ensures that you will be in compliance with all laws regulating the professional conduct and business practices of mortgage officials.
The bond, while required of you, is on behalf of the Division, and by extension, the people of the state of Missouri. Essentially, the bond protects against acts of malfeasance committed by a mortgage broker in the performance of mortgage broker duties.
As principal of the surety bond, you must indemnify the surety for claims paid against your bond, should that occur. With the exception of attorney fees and costs, the aggregate total of any liability will not exceed the amount of the bond.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and fiduciary bonds throughout Missouri.
Our goal, to the extent that we can, is to make your life easier.
Please call us today at:
Or, you may fill out the form below and an agent will call you...
