The North Carolina mortgage lender bond is required in one of three amounts, all of which are available from our agency. Please call us today at: 844-589-9732.
North Carolina mortgage lenders, like mortgage brokers, are regulated by the Office of the Commissioner of the Banks.
Mortgage lenders are required to furnish the Office with evidence of an active surety bond in one of three dollar amounts.
Pursuant to rules, the surety bond, once issued, is filed electronically. AmeriPro Surety Bonds helps you with full compliance.
The North Carolina mortgage lender bond is required in one of three amounts. Beyond the minimum amount, the amounts are determined by production level of loans within North Carolina.
The amounts required are as follows:
The North Carolina mortgage lender bond price will depend, of course, on the amount that you are required to purchase.
Further considerations are given to information provided by you on the surety bond application (because of the bond’s large dollar amount, the questions asked are much more involved), and, of course, your credit score.
An applicant with exemplary credit may pay as little as 1%, $1500, $2500, or $5000 a year for the mortgage lender bond.
We emphasize, however, that the amount any one particular will be asked to pay will depend on a number of different variables, too numerous to discuss here.
Fortunately, with AmeriPro Surety Bonds, you have an advocate who will work to find you the best bond pricing.
After the bond is purchased, it is to be filed electronically with the NMLS. We will assist you with the filing of your bond, if need be.
The bond is active for one year after its effective date. Upon renewal, the amount may increase or decrease, but no less than the minimum, subject to your production levels for the prior 12 months.
The purpose of the NC mortgage lender surety bond is to serve as a financial guarantee that you will be in compliance with all laws regulating mortgage lending.
While the bond is required of you, its benefit is for the people of North Carolina; it does not protect a mortgage lender at all.
More specifically, the bond guarantees your compliance with Article 19 B, Chapter 53 of the states statutes and the NC Secure and Fair Enforcement Mortgage Licensing Act .
AmeriPro Surety Bonds is a surety bond-only agency which provides license and permit, contractor, court, and fiduciary bonds throughout North Carolina.
We also provide surety bonds nationwide.
Please call AmeriPro Surety Bonds today at:
Or, you may fill out our form below and an agent will call you.
