Montana Escrow Business Bond |
AmeriPro Surety Bonds | 844-589-9732
Escrow Business License
The Montana Division of Banking and Financial Institutions is the regulatory body charged with the licensing of escrow businesses.
While the Division requires a $100,000 escrow agency surety bond, your bond is facilitated and filed through NMLS, the Nationwide Mortgage Licensing System.
Upon approval and purchase of your surety bond, our agency can electronically file it on your behalf to NMLS, thereby streamlining your registration process.
Qualifying and the Premium
Applicants for the $100,000 Montana escrow business bond will fill out an application — which we’ll begin with you over the phone — but which will require you to complete, sign, and have witnessed.
The application is straightforward, not long, and is very easy. As part of the underwriting process, there is also a credit check, which is either a business or personal one.
Applicants who are approved will pay $500 annually. Good credit is required for approval.
Upon approval of your surety bond and receipt of the payment, our agency will issue the bond for you, filing it electronically to NMLS.
Premium Prepayment Options
At $500 premium, ½ of 1%, the Montana escrow business bond is issued to you for one year. The bond and the associated premium renew on the anniversary of its issuance.
Our agency also offers you the option to prepay your surety bond up to 3 years.
Besides lengthening the time between renewals, prepayment of the premium saves you money over renewing annually.
The premium prepayment options and savings are as follows:
- If prepaid for two years, the premium is $900, a $100 savings;
- If prepaid for two years, the premium is $1300, a $200 savings.
Purpose Of Your Surety Bond Requirement
The purpose of your surety bond requirement is a financial guarantee which ensures your compliance the Montana Regulation of Escrow Businesses Act, as amended.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide escrow agency and related lost title and deeds of trust bonds nationwide.
Our agency is also a provider of license and permit, court, and other bonds in all 50 states.
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