The Office of the Commissioner of Banks is the regulatory body which oversees mortgage brokers in North Carolina.
The Commissioner is also the obligee for the mortgage broker surety bond on behalf of the people of North Carolina. The Office requires mortgage bonds to be issued in one of 3 dollar amounts. The amount is determined by broker production levels.
Once obtained, the bond is filed electronically (Electronic Surety Bond) through the Nationwide Mortgage Licensing System (NMLS).
AmeriPro Surety Bonds works to find you the best surety bond pricing.
According to § 53-244-103 of the state’s statutes, the surety bond amount required of you as a mortgage broker is calculated as follows:
The premium for this surety bond represents the cost that you will pay for its issuance.
The premium is primarily determined by:
While the premium will vary from person to person, as a broad general rule, applicants with good credit may pay as little as 1% annually for this bond $750, $1250, or $2500 annually.
However, the amount required for any and all of these bonds may vary considerably, and our agency will work to find you the best surety bond pricing.
Once issued, the North Carolina mortgage broker bond is active for one year. A current electronic surety bond must always remain on file with the Commissioner as a prerequisite for continued activity as a mortgage broker.
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide license and permit, contractor, court, and fiduciary bonds throughout North Carolina.
We also provide surety bonds nationwide.
Please call AmeriPro Surety Bonds today at: