1 (844) 589-9732

Mortgage Broker Bond

What is a Mortgage Broker Bond?

AmeriPro Surety Bonds | 888-589-9732

A mortgage broker bond is a license and permit bond which states require to become properly licensed and which is also required to protect the public from wrongful acts committed by a mortgage broker.

States have differing amounts of a mortgage broker bond.  A California mortgage broker bond, for instance, will be $25,000.  A Massachusetts mortgage broker bond is for $75,000.  And a New York mortgage broker bond will have varying amounts depending on the volume of business performed by the mortgage brokerage.

The premium for these bonds is contingent upon the applicant’s credit score (we do provide assistance for clients with challenged credit!), but are typically between 1-3% of the face value of the bond amount.  These bonds renew annually.


Mortgage Broker Bond for Bad Credit

Applicants with challenged credit scores may pay a significantly higher amount; however, we will work with you to get you bonded.  Please do NOT be embarrassed by your credit situation.  At AmeriPro Surety Bonds, we are here to help you today, and not judge you for real or wrongly ‘credited’ past mistakes!

A Mortgage Broker Bond is NOT an Insurance Policy

It is important to point out that a mortgage broker bond is not insurance for the mortgage broker; it is a protection, required by the licensing entity (the Obligee) on behalf of consumers.  Unlike insurance, if a claim is paid out on a bond, the surety company expects the principal (see below) to reimburse all related costs and expenses.  Think, if you will,  of a mortgage broker bond as an insurance policy that you are required to purchase on behalf of others.

Another thing to note is that if a mortgage broker conducts business in multiple states, a mortgage broker bond is required for each individual state in which that mortgage broker conducts mortgage-related operations.


The Three Sides to a Mortgage Broker Bond

Surety bonds have 3 sides, and a mortgage broker bond is no different.

There is the principal, who in this case, is the person who is required to purchase the mortgage broker bond.

There is the obligee, again, who is the licensing entity, who is requiring the principal to purchase a mortgage bond on its behalf (and that of the consumer public).  The obligees, then, are both the licensing entity and the consumer public.

The surety is the insurance company which issues the mortgage broker bond and has the financial capacity to ensure its payment should that be required.

In short, you (the principal) purchase a mortgage broker bond from a surety to ensure compliance with and protect the obligee.

More About AmeriPro Surety Bonds:

AmeriPro Surety Bonds will help you obtain your mortgage broker bond at the best available price.

Once the bond has been issued, you will need to provide it to your licensing entity.

Fill out our form on our main page; or, better yet, contact us and we’ll walk you through the steps for your mortgage bond today.  In many instances, your mortgage broker bond can be purchased in as little as a few hours—if that.

Get Your Mortgage Broker Bond Today!

It only takes a minute to apply. Click the button below to get started.

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.

apply today

recent news

Lost Cashier’s Check Bond | Lost Instrument Bond

If you’ve lost a cashier’s check or money order, to replace it, the banking institution will require that a “Lost Instrument bond” be purchased in order to re-issue it. Learn how to quickly purchase this bond with AmeriPro Surety Bonds.

Notary Public Bond California

A notary bond, also known as a notary public bond, is a bond that is required by the state of California to engage in the business of witnessing signatures on documents. 

Connecticut Professional Conservator Bond

Connecticut Professional Conservator Bond | AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Amount and Purpose   The state of Connecticut offers a professional conservator probate program which pays a monthly fee to the appointed conservator on behalf of...

Ginnie Mae Lost Instrument Bond

Ginnie Mae Lost Instrument Bond | AmeriPro Surety Bonds | 844-589-9732 Surety Bond; Amount and Purpose   A Ginnie Mae lost instrument bond, formally known as a Lost Instrument Bond with Limited Liability, is required by this federal agency when a property ---...

West Virginia Attachment Bond

West Virginia Attachment Bond | AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Amount and Purpose   An attachment order allows a Plaintiff, prejudgment, in a civil case, to seize and take possession of the disputed property held by a Defendant. A...

contact us

Office: 1 (844) 589-9732

Hours of Operation:

Monday – Friday 6 am to 5 pm (PST)