The North Carolina mortgage servicer bond, like the state’s mortgage broker and mortgage lender bonds, once purchased, will be filed electronically through NML.
The bond is required by the state’s Office of the Commissioner of Banks.
AmeriPro Surety Bonds offers you this $150,000 surety bond and will facilitate on your behalf its electronic filing.
The North Carolina mortgage service bond will typically have a premium that is between 1-5% of the bond’s amount annually.
The determining factors for the price of this bond will be information provided on your surety bond application, and your credit score.
Because of the bond’s large size, it is advisable to have information and explanations regarding past or current financial difficulties. Candor may be of some help in qualifying.
AmeriPro Surety Bonds will work to find you the best overall surety bond pricing.
After its issuance, the bond is active for one year, and thereafter must be renewed.
The purpose of the North Carolina mortgage servicer bond is a financial guarantee which ensures your compliance with all rules and statutes governing mortgage servicing in the state.
Specifically, the bond is required to ensure your compliance with NC Safe Act (North Carolina Secure and Fair Enforcement Mortgage Licensing Act) as well as any future amendments to the law.
The bond protects the people of the state of North Carolina against acts of negligence, fraud, theft, or malfeasance as it relates to the pursuit of your professional mortgage servicer duties.
While the bond’s existence is required of you, it does not protect you or your mortgage business at all; its sole benefit is for the state and the people of North Carolina.
As principal of this surety bond, you ultimately shoulder the responsibility for reimbursement to the surety for any claims paid against your bond.
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide license and permit, court, and fiduciary bonds throughout North Carolina.
We also provide surety bonds nationwide.
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