Nebraska residential mortgage brokers are regulated by the state’s Department of Banking and Finance. They are required to file a surety bond. The amount of the surety bond is based upon the production levels of mortgage loans closed in Nebraska in the preceding calendar year.
The dollar amount closed and the corresponding surety bond amount are as follows:
As an applicant for the Nebraska residential mortgage bond, you will need the following to qualify for this surety bond:
Once all documents have been received, the review will typically take several hours.
Upon approval, you will be approved at the following amounts, all of which are less than 1% of your surety bond:
After the premium has been paid, our agency will your signed surety bond, along with your Power of Attorney sent to you for filing.
Mortgage licensees are increasingly using NMLS, the Nationwide Mortgage Licensing System to electronically file their licensing and surety bonds. At your request, our agency can facilitate the electronic filing of your Nebraska residential mortgage license surety bond.
As stated with Nebraska Revised Statute 45-724, the purpose of your surety bond requirement is to protect residents of Nebraska who have claims or causes of actions against a licensed residential mortgage licensee or any employees (who are also “covered” under your surety bond).
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Nebraska and nationwide.
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