1 (844) 589-9732

Montana Mortgage Broker and Lender Bond

The Montana mortgage broker and lender bond, up to $50,000, is offered to you without a credit inquiry. Please call AmeriPro Surety Bonds today at 844-589-9732.

Montana Mortgage Broker Bond and Lender Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Montana Mortgage Broker and Lender License

 

 

 

The surety bond requirements for a mortgage broker bond are the same for the Montana mortgage lender bond. What we write below is therefore applicable to both mortgage brokers and lenders.

While your licensing and regulation are handled by the state’s Banking and Financial Institutions division, the filing of your license and surety bond are completed through NMLS, the Nationwide Mortgage License System.

After purchasing your surety bond in the required amount, our agency can electronically file your bond on your behalf to NMLS.

 

 

 

Amount of Surety Bond Required

 

 

 

The breakdown for surety bond requirement amounts is as follows:

  • For those with no prior history in mortgage brokering/lending, business history of less than one year, or for those whose production level does not exceed $50 million dollars — $25,000 surety bond;
  • If your production level is greater than $50 million, but not greater than $100 million, — $50,000 surety bond;
  • If your production level exceeds $100 million – $100,000 surety bond.

 

 

 

Qualifying and Your Premium

 

 

 

Applicants who apply for the $25,000 or $50,000 Montana broker and lender surety bond will have expedited approval. This is because these bonds are issued with no credit check.

What this means for you is that after completion of a short surety bond application, which we’ll take from you over the phone, and payment of the premium the surety bond is issued within minutes.

The premium breakdown is as follows:

  • $25,000 surety bond — $188 annual premium;
  • $50,000 surety bond — $375 annual premium.

For those who require a $100,000 surety bond, a completed and signed application, along with a credit check inquiry are required.

After review by an underwriter, and with your acceptable business or personal credit, the $100,000 surety bonds has a premium of $750 annually.

Regardless of the amount of surety bond required, after its purchase, we can file the bond on your behalf through NMLS, or we can send the bond to you for filing, along with a Power of Attorney form.

 

 

 

Duration of Your Mortgage Broker Surety Bond

 

 

 

The Montana mortgage broker bond is active for one year from the date of issuance.

Options exist to prepay your surety bond up to 3 years (which will save you money); however, you should bear in mind before choosing to do so, whether you might require a different surety bond amount in the following calendar year.

Purpose Of Your Surety Bond Requirement

Your surety bond requirement is a financial guarantee of your compliance with the Montana Mortgage Broker and Mortgage Loan Originator Licensing Act, as amended.

The bond is for the benefit of any consumers who are harmed by the failure to comply with the laws by a mortgage broker and lender, which in turn, causes a loss or some other harm.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds provides mortgage broker and mortgage lender surety bonds nationwide.

Our agency is also a provider of license and permit surety bonds in all 50 states.

Please call us today at:

 

844-589-9732

 

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

 

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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Office: 1 (844) 589-9732

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Monday – Friday 6 am to 5 pm (PST)