Mortgage Lender & Broker Bonds
What is a Mortgage Surety Bond? (And, why is it a license requirement?)
Buying a home is often the largest purchase a person makes in their lifetime. Since a large amount of money is involved with purchasing a home, mortgage professionals must complete training to obtain a license in the state they work. As an effort to prevent fraudulent activities in the mortgage industry, most states enforce licensees to secure a Surety Bond.
See our reviews on Google:
Excellent service; they exceeded my expectations in timeliness and professionalism.
Bridgette M. B.
23:24 10 Dec 21
Client services provided quick and accurate responses.
James G.
17:49 30 Nov 21
Very helpful and they respond quickly to any questions.
Eva J.
16:46 30 Nov 21
Katrina Fearn, Client Service Manager at Surety, is an absolute pleasure to work with!! She is always highly responsive, and has provided me nothing but excellent service since our first interaction. I highly recommend working with her and the Surety team. They will always go above and beyond. Thank you for all that you've done!
Zakieh A.
16:38 04 Nov 21
I have been working with Steve Shike and he has been so helpful. I purchased the wrong bond and Steve instantly requested a refund on my behalf and called back with the good news. I appreciate him for helping me figure out my situation in such a timely matter. Thank you Steve for responding to my calls and emails promptly.
Ashley W.
18:25 10 Aug 21
Gerry J.
16:30 08 Aug 21
Katrina and Surety Solutions was awesome to work with and made the process seamless. Even after I, PERSONALLY, made a mistake and caused a delay, Katrina was able to spot my mistake and kindly address the error while still delivering my bond as if nothing had happened.I have nothing but good things to say about Surety Solutions.
Xavier A.
15:40 22 Jul 21
jerry T.
04:44 03 Jul 21
Katrina and Surety Solutions were very helpful and fast. I needed to change the bond I ordered and they handled that within minutes. Their response time to emails and request were great and that is why I will continue to work them both. All I ask for is relatively decent response time when there are issues that need resolved and Katrina far exceeded that and was friendly on top of everything else. Well done.Kris
Kristopher M.
14:23 24 Jun 21
Grace answered the phone immediately with a positive attitude and willingness to help. She followed through professionally and promptly through entire process.
Danny S.
14:41 15 Jun 21
Surety Solutions has been the most amazing and easiest company to work with on Bonds in my past 17 years of doing insurance. They are very quick to respond and very personal to work with. Jake Durrant is absolutely the best!
Bonnie A.
20:39 20 May 21
Suzie T.
17:14 07 May 21
Easy experience.
Tonya B.
01:18 21 Apr 21
I had the pleasure of working with Katrina Fearn to obtain mortgage broker surety bonds and I can say with zero hesitation, that she is wonderful to work with. Extremely responsive, communicative and helpful. Surety Solutions + Katrina = Great Partnership. Thanks!!!
Ryan M.
20:18 19 Apr 21
Can't say enough good things about Katrina Fearn, she was exceptionally prompt, responsive and a true professional in getting me the bond in a timely manner. Just amazing customer service.
Umesh M.
23:34 07 Apr 21
I needed a copy of my bond and with people working form home I thought is was going to take a long time. I got an email with the copy of my bond with in minutes. Never seen anything like that. Very Professional and fast response. thank you for good business ethic
Ernesto U.
19:08 10 Feb 21
Just obtained Mortgage Broker Surety Bond for two states. not only the price was right but service and professionalism exceeded my expectations. i can't thank Steve enough and wish i knew them sooner.
Ruslan K.
22:43 08 Jan 21
I bought a surety bond for my business. The name on the application has my middle name on it and the policy didn't. That would or could have created a problem. I wrote to customer service to complain. Well not complain but ask for it to be changed. Since it was Thanksgiving weekend I wasn't expecting to hear back till this week sometime. Well to my surprise it was "Very" Quickly. JD was very helpful and professional. Fixed it then contacted me with the corrected version. Couldn't be happier. " Good Business is Good Business"
Naked Spoon M.
05:17 01 Dec 20
JP M.
01:46 04 Nov 20
Amazing customer service and friendly and informative reps.
Obsesion H.
04:45 26 Oct 20
Surety solutions handled my request for a Guardianship Bond professionally, with great care and provided great value to my family. Of all of the insurance companies I contacted for my need, Surety Solutions was by far the most responsive, courteous and knowledgeable. I very much appreciate their fine service!!
Irena S.
03:00 25 Sep 20
The entire staff from Jake to Katrina were more than professional and bent over backwards to meet mine and The State of California's requirements
Kirk G.
19:10 23 Jun 20
This process could not have been easier! Mr. Chipman sent me an email link and I just followed the steps. I highly recommend Mr. Beau Chipman to anyone who needs this service.
Sharon H.
23:29 28 Apr 20
Justin R.
23:53 17 Mar 20
Outstanding customer service from Jake and the other folks at Surety Solutions! Shopped my surety bond with other companies and found the best price here by far.
Doss E.
03:42 11 Mar 20
Ed F.
20:00 05 Mar 20
Excellent service, best pricing, immediate communication! Keep up such a great work!!! Thanks!!!
Oksana B.
06:41 05 Mar 20
The staff is very friendly and on more than one occasion went above and beyond normal customer service to make sure that we were fully taken care of. I would highly recommend this company.
Diana F.
07:20 24 Feb 20
Easy to work with, and extremely fast! I would definitely recommend!
Tiara A.
03:01 31 Jan 20
Very timely and professional work on providing services to our firm. We are very satisfied.
sherry N.
17:44 22 Jan 20
Great service. No hassle. Great communication.Thank you Cryssi for the excellent service!!!
Ivan R.
23:52 08 Jan 20
Cryssi B. went above and beyond to get my bond issued in record time and delivered incredible customer service throughout the process. So impressive and refreshing. I am so grateful.
Kerri L.
03:29 14 Dec 19
Absolutely great to work with!
Katrina and M.
17:11 23 Oct 19
Quick and easy process to get my notary bond. Best price and the documents arrived by mail way faster than expected. I highly recommend.
M. G.
03:56 23 Oct 19
Great communication, fast and to the point service. Great follow up too.
Pedro R.
20:58 17 Oct 19
Katrina is very fast and responsive and we got our insurance in few hours! She is the best! We will collaborate again for sure! Thank you! 🙂
Petra G.
16:08 10 Oct 19
They helped so much when I went to my states tag office who denied my paperwork multiple times due to the format. Surety helped me every step of the way.
Lara C.
07:44 23 Sep 19
Super fast and professional service. Couldn't ask for anything better. Thank you guys.
Bill The K.
15:16 11 Sep 19
Surety Solutions is a fantastic company to work with. I was in a unique situation and was having trouble finding a company willing to underwrite an estate conservatorship bond for me. Surety Solutions took the time to listen to me and shopped around with their underwriters and found someone willing to underwrite the bond. Having to experience the probate system is a major headache; however, Surety Solutions makes sure the bonding portion of it does not have to be 🙂
Tommy M.
02:15 04 Sep 19
My experience with Surety Solutions agent (Katrina) was professional, solution-driven and responsive throughout the whole process. From applying for a bond quote to purchasing and receiving the bond was simple and efficient. My questions were answered promptly with upbeat attitude and patience. Customer service definitely exceeded beyond my expectations. I would certainly use their service again in the future.
Susan L.
16:07 20 Aug 19
OP
Sandra L.
17:10 15 Aug 19
This place was actually super helpful, and really speedy! Their blog on their page has nice, easy to follow information, and their staff are super friendly and helpful. I was looking all over for some of this information, trying to weave through weird shady looking sites, and Surety Solutions really is the one to go with. quick, clean, trustworthy, professional. Thanks for all your help!
Audrey K.
06:20 27 Jul 19
Surety Solutions was able to help me secure a bond and guide me through the probate process in a very friendly and competent way. I really appreciated their speed, efficiency, and knowledge.
Shana O.
18:14 22 Jul 19
I made a mistake in selecting the correct bond and they fixed it with a quick call.Thanks Again!
Jason D.
21:45 10 Jul 19
I worked with Cryssi at Surety Solutions in order to secure a $900,000 conservator bond. Their quote was by far the best out of several companies I requested quotes through ($2,110 vs. $3,500). Cryssi was always very helpful and responded very quickly during business hours and often during after hours via email. I will continue to work with and renew with their company especially if their quotes and customer service remain this excellent. Thank you again! MikeSo just an update to my original post. It was time to renew the conservator bond this year and Cryssi at Surety Solutions made the process extremely streamlined and convenient. I received an email stating it was time to renew the bond with a link to pay online. My rate didn't change at all and it took about 30 seconds to renew my bond. This has been an easy, convenient, and one of the most affordable companies to work with. Some of the best customer service in the market which is sometimes hard to find these days! Thank you again for an affordable quote which was seamless to renew. Thank you Cryssi!
Michael B.
20:24 30 Jun 19
They did everything they said they would & more! Great people excellent people skills polite and quick. Noproblems
Christopher F.
19:08 24 May 19
I needed a California Certificate of Title Bond so I came to there site. This company was very professional and helpful. I appreciated there live chat options. There website was easy and fast to use. I had to call in and speak to someone and he (Thomas) was very helpful and polite. Thank you guys for a great experience if I ever need another Bond I will be using your company for sure! Keep up the great customer service. Thanks again!
John P
17:59 30 Apr 19
Thank you Thomas and Katrina for the superb professional, fast service you both provided me. I shopped around online for a few days comparing Bond Companies and calling asking questions, and praying. Your website is a cut above the others; your process is quick, straight forth, no tricks nor confusion, but honest online service!I received a Great Rate for my bond compared to other companies, saving me money!Thomas answered my questions upfront with patience & clarity; & Katrina was right on top of email correspondence, my invoice, I received my email bond copy in hours of applying online & hard copy I received next day!Surety Solutions of Gallagher's overall process, Thomas & Katrina made sure, my experience with them was overall stress free, affordable & outstanding!I am still amazed how fast I received my hard copy bond from the time I started to finished, and with FedEx, I had my bond, No errors in my hand the next day! I thank GOD for the stress free & excellent service I received !
Jacqueline
13:41 25 Apr 19
Beau was super helpful when I had questions about buying a used car from a seller with an unusual title situation. I have not bought a used car before, so it was very reassuring to talk through my concerns about the situations and the safest ways to move forward. He thoughtfully responded to my inquiries without pestering for my contact info or trying to sell me products - such customer service is hard to find these days! Thank you!
Michael S.
22:52 19 Apr 19
I had been dreading the red-tape of obtaining a surety bond for a lost vehicle title. I had just obtained a quote from another company online and was not pleased with the price. Surety Solutions was less expensive---by far---and their service was outstanding: efficient and polite. The quote was obtained, approval given, and the transaction was complete in a just a couple of hours. I could not be more pleased!
kathy B.
22:20 15 Apr 19
Huge Kudos to Cryssi @Surety Solutions! Thank you for being so responsive and accommodating with helping me get my Bond taken care of. It was a pleasure working with you and your company!Rob with Caliber Auto Sales
ROBERT S.
02:42 12 Apr 19
Brent W.
20:01 11 Apr 19
It was a very easy and smooth experience. I got the bond that I needed for a competitive rate. Cryssi was great.
Sheree M.
15:39 10 Apr 19
Cryssi was my rep. Responds back on a timely manner. She goes above and beyond to insure customer satisfaction! I will do business with Surety Solutions again and recommend to others! Thank you Cryssi! From Bridge City Cleaners!
kimchibator
23:17 02 Apr 19
Cryssi saved the day. We were finally ready to submit our DBO app and realized we had the bond created in our previous business. Expecting a significant red-tape delay, we reached out to Cryssi who managed our little crisis with not only absolute professionalism, but with expedience. She was also so personable!
Deanne R.
20:31 28 Mar 19
Cryssi & Danielle are great to work with. Very responsive and solution minded. We needed to extend the dates of our coverage and paperwork to show that coverage. They responded quickly and took care of us right away. Thank you!
Mark W.
00:24 28 Mar 19
Working with Cryssi at Surety Solutions is fast and easy!
Love of the Magic V.
16:31 26 Mar 19
They are quick to help you I will say that!!
Michael L.
17:46 22 Mar 19
Visited and contacted several different surety bond websites prior to seeing this one. Had my bond purchased in less than 10 minutes!!!!! Spoke with Cryssi and she was very professional, answered all of my questions and had my surety bond emailed to me within an hour, will receive the original one tomorrow morning!!!!! So pleased with Cryssi and the ease of obtaining the bond. Lastly, out of all of the places I contacted, this surety bond was $75.00 less than all of the other places that I checked into.
Toni R.
23:26 21 Mar 19
Great Customer Service! Was able to process my request and also review great information they provide - step by step guide amazing! quick and easy- best part of dealing with Title issues- HIghly recommend
CARLOS A.
18:14 19 Mar 19
Very,Very helpful and Very,Very fast same day it was like christmas i defiinitly recomend this company
Brandon C.
02:23 13 Mar 19
I've always had the best experience with this company, and often try to imitate their high level of service in my own company. Cryssi answers my questions quickly and paperwork gets mailed right away. They obviously follow an efficient system that flows throughout the organization. Highly recommend!
Laura C.
18:01 06 Mar 19
I HAD A GREAT EXPIRENCE WORKING WITH THEM
LG T.
17:00 04 Mar 19
Great company, really informative and responsive. Thomas was super helpful and patient as he walked me through a million questions that I had. I dealt with a few other less helpful companies before I selected this one. Highly recommend.
Melisande A
17:51 01 Mar 19
WOW! I am so glad I found this site. I called a local company and they wanted me to fill out and email so much information. With this company it was all online and easy and super fast. I also messed up and put the wrong expiration date and it was so easy to chat online and fix it. I paid for the faster shipping which is 2 business days, its so worth it. Thanks again Surety Solutions and to Beau who I was chatting with online, you were awesome.
anthony G.
18:45 27 Feb 19
These guys are very knowledgeable! They when out of their way to answer all my questions. I'll be getting my bonds from them.
TARC -Wealth Building Office L.
00:29 27 Feb 19
Needed some quick assistance. and they were able to help me with the questions i had.
Kingtrix G.
23:41 26 Feb 19
Beau helped me understand bonded titles and what I needed to ask my DMV when I thought I was in a hopeless situation! Thanks so much!
Sophia Rose W.
19:42 25 Feb 19
This was a pleasurable non stressful experience for me I was well informed and its gonna make it that much easier at the DMV NOW
Jennifer F.
23:01 22 Feb 19
Exceptional customer service.
Roman Y.
16:18 22 Feb 19
gozie victor O.
00:05 22 Feb 19
My representative does a great job, always takes care of my needs and answers any questions I may have
Robert R.
13:29 20 Feb 19
Wonderful experience. Clear, concise explanation. I spoke with Beau and got all the information I needed to help me out.
David N.
00:04 20 Feb 19
The answers to my inquiry were so helpful and prompt iy was very encouraging. I sincerely appreciate the exoertise to get me started on a long awaited resolution to my title issue. Thank you so much!
Darrick H.
14:23 16 Feb 19
Saraswoti B.
22:33 13 Feb 19
Sunshine S.
21:13 13 Feb 19
Absolutely Fantastic. Though Katrina coud not help me she gave me 5 companies that could!
Tan-Jent Development Company, L.
17:28 13 Feb 19
Very honest. Loved my chat
Pamela D S.
17:08 07 Feb 19
Fast, knowledgeable and friendly. Great experience.
don P.
23:46 06 Feb 19
Laura N.
23:34 06 Feb 19
Straight-forward and quick. Online form was very easy to fill out and I received our bond the very next day.
John K.
23:22 05 Feb 19
Katrina was amazing. She helped me through buying a vehicle with no title. Very confident and friendly. I would refer her to anyone. Thank you Katrina.
Brent S.
19:18 04 Feb 19
Amazing company that helps in anyway possible. They stay right on top of things with all available information right on hand. Great company to go with and without hesitation.
Suzelle R.
03:53 03 Feb 19
Surety Solutions was very helpful with answering son tough questions that I had. They were honest enough to make a recommendation to me, even though that recommendation would mean that I would not likely end up being a customer right now. However, I will definitely keep their number on file!
Hayward Bryant J.
19:37 01 Feb 19
Chris Prolago (.
19:37 01 Feb 19
great help!
Eva A.
18:17 01 Feb 19
Fast and courteous service! Very detailed correspondence and Crissy made my transaction very easy and pleasant. Keep up the good work!
chanel M.
22:08 24 Jan 19
Beau is a great guy! Explained everything that I need to know and I wanted to learn!
Ercan G.
00:58 23 Jan 19
Very respectful young man very helpful I appreciate it this time
Rick M.
00:04 23 Jan 19
I personally had a great experience with the customer service representative that I spoke with very nice, very well understood and straight forward.
Jaii N.
00:00 23 Jan 19
Cryssy helped with my bond. Made it easy. I will be recommending this company to all.
Tim B.
10:38 20 Jan 19
Alexander V.
19:35 17 Jan 19
Katrina Rocks! one of the best online chat experiences yet.extremely knowledgeable and patient quality service for sure. will definitely recommend to others.
Tina
18:59 17 Jan 19
elizabeth L.
18:46 17 Jan 19
Christopher F.
00:55 15 Jan 19
Super easy to work with!
K S
00:01 11 Jan 19
Howard G.
23:38 09 Jan 19
Start with a quote
| State | Bond Type | Quotes |
|---|---|---|
| Alabama | Appraisal Management Company Bond | Get Quotes |
| Alabama | Blue Sky Bond | Get Quotes |
| Alabama | Mortgage Broker Bond | Get Quotes |
| Arizona | Escrow Agent License Bond | Get Quotes |
| Arizona | Mortgage Broker Bond | Get Quotes |
| Arizona | Mortgage Banker Bond | Get Quotes |
| Arkansas | Mortgage Banker, Broker, or Servicer Bond | Get Quotes |
| Arkansas | Time-Share Bond - Acquisition, Sales, Managing Agents | Get Quotes |
| California | Finance Lender/Broker Bond | Get Quotes |
| California | Mortgage Lender/Servicer Bond | Get Quotes |
| California | Residential Mortgage Lender Bond | Get Quotes |
| Colorado | Mortgage Loan Originator Bond | Get Quotes |
| Colorado | Blanket Mortgage Loan Originator Bond - 20 or More Licensees | Get Quotes |
| Colorado | Blanket Mortgage Loan Originator Bond - Less than 20 Licensees | Get Quotes |
| Connecticut | Mortgage Broker Lender Bond | Get Quotes |
| Connecticut | Mortgage Servicer Bond | Get Quotes |
| Delaware | Mortgage Loan Broker Bond | Get Quotes |
| Delaware | Mortgage Loan Originator Bond | Get Quotes |
| District of Columbia | Mortgage Lender-Broker Bond | Get Quotes |
| Georgia | Mortgage Broker-Lender Bond | Get Quotes |
| Hawaii | Mortgage Servicer License Bond | Get Quotes |
| Illinois | Loan Broker’s Bond | Get Quotes |
| Illinois | Residential Mortgage License Bond | Get Quotes |
| Indiana | Loan Broker Bond | Get Quotes |
| Indiana | Mortgage Lending Bond | Get Quotes |
| Indiana | Mortgage Broker Bond | Get Quotes |
| Indiana | First Lien Mortgage Lending License Bond | Get Quotes |
| Indiana | Mortgage Lending Exempt Company Registration Bond | Get Quotes |
| Indiana | Subordinate Lien Mortgage Lending License Bond | Get Quotes |
| Iowa | Loan Company License Bond | Get Quotes |
| Iowa | Mortgage Lending Bond | Get Quotes |
| Iowa | Mortgage Broker or Mortgage Banker Bond | Get Quotes |
| Iowa | Exempt Company Registration Mortgage Bond | Get Quotes |
| Kansas | Supervised Lender or Mortgage Company Bond | Get Quotes |
| Kentucky | Broker-Dealer-BlueSky Bond | Get Quotes |
| Kentucky | Mortgage Loan Broker Bond | Get Quotes |
| Kentucky | Mortgage Loan Company Bond | Get Quotes |
| Kentucky | Mortgage Loan Originator Bond ($15k) | Get Quotes |
| Kentucky | Mortgage Loan Originator Bond ($20k) | Get Quotes |
| Louisiana | Mortgage Lender-Broker Bond (50k) | Get Quotes |
| Louisiana | Mortgage Lender-Broker Bond (25k) | Get Quotes |
| Maine | Mortgage Loan Originator Bond | Get Quotes |
| Maryland | Mortgage Lender Bond | Get Quotes |
| Massachusetts | Mortgage Broker Bond | Get Quotes |
| Massachusetts | Mortgage Lender Bond | Get Quotes |
| Michigan | First Mortgage Broker, Lender, and/or Servicer Bond | Get Quotes |
| Michigan | Second Mortgage Broker, Lender, and/or Servicer Bond | Get Quotes |
| Michigan | Mortgage Loan Originator Bond | Get Quotes |
| Minnesota | Residential Mortgage Originator Bond | Get Quotes |
| Mississippi | Designated Agent Bond (Manufactured Homes) | Get Quotes |
| Mississippi | S.A.F.E. Mortgage Act Bond | Get Quotes |
| Missouri | Residential Mortgage Broker Bond | Get Quotes |
| Montana | Escrow Business Bond | Get Quotes |
| Montana | Mortgage Broker Bond | Get Quotes |
| Montana | Mortgage Servicer Bond | Get Quotes |
| Montana | Mortgage Lender Bond | Get Quotes |
| Montana | Title Loan Licensee Bond | Get Quotes |
| Nebraska | Escrow Agent Bond | Get Quotes |
| Nebraska | Mortgage Banker Bond | Get Quotes |
| New Hampshire | Mortgage Broker-Banker Bond | Get Quotes |
| New Hampshire | Mortgage Broker-Servicer Bond | Get Quotes |
| New Hampshire | Real Estate Broker Bond | Get Quotes |
| New Jersey | Mortgage Broker Bond | Get Quotes |
| New Jersey | Mortgage Lender/Broker Bond for Corporations | Get Quotes |
| New Jersey | Mortgage Lender/Broker Bond for Individuals | Get Quotes |
| New Mexico | Escrow Company Corporate Surety Bond | Get Quotes |
| New Mexico | Mortgage Loan Company Bond | Get Quotes |
| New Mexico | Mortgage Loan Originator Bond | Get Quotes |
| New York | Excess Line Broker Bond | Get Quotes |
| New York | Licensed Mortgage Banker Bond | Get Quotes |
| New York | Mortgage Loan Originating Entity Bond | Get Quotes |
| New York | Mortgage Loan Originator Individual Bond | Get Quotes |
| New York | Registered Mortgage Broker Bond | Get Quotes |
| New York | Registered Mortgage Loan Servicer Bond | Get Quotes |
| North Carolina | Mortgage Broker Bond | Get Quotes |
| North Carolina | Mortgage Servicer Bond | Get Quotes |
| North Carolina | Mortgage Servicer Bond | Get Quotes |
| Ohio | Mortgage Broker Bond | Get Quotes |
| Ohio | Title Agent Bond | Get Quotes |
| Oklahoma | Mortgage Lender Bond | Get Quotes |
| Oregon | Mortgage Lender Bond | Get Quotes |
| Oregon | Mortgage Broker Surety Bond | Get Quotes |
| Oregon | Mortgage Servicer Surety Bond | Get Quotes |
| Pennsylvania | Mortgage Broker Bond | Get Quotes |
| Pennsylvania | Mortgage Loan Correspondent Bond | Get Quotes |
| Pennsylvania | Mortgage Originator Individual Bond | Get Quotes |
| Pennsylvania | Mortgage Originator Employer Bond | Get Quotes |
| Rhode Island | Loan Broker Bond | Get Quotes |
| Rhode Island | Mortgage Lender Bond | Get Quotes |
| South Carolina | Broker-Dealer and Investment Advisor Bond ($35k) | Get Quotes |
| South Carolina | Broker-Dealer and Investment Advisor Bond ($50k) | Get Quotes |
| South Carolina | Mortgage Broker Special Deposit Bond | Get Quotes |
| South Dakota | Mortgage Company Bond | Get Quotes |
| South Dakota | Exempt Mortgage Company Registration Bond | Get Quotes |
| Tennessee | Broker Dealer Bond | Get Quotes |
| Tennessee | Modular Home Dealer Bond | Get Quotes |
| Tennessee | Mortgage Broker-Lender-Servicer Bond | Get Quotes |
| Texas | Residential Mortgage Loan Servicer Bond | Get Quotes |
| Vermont | Mortgage Broker | Get Quotes |
| Virginia | Mortgage Lender/Broker Bond | Get Quotes |
| Virginia | Mortgage Loan Originator Bond | Get Quotes |
| Washington | Mortgage Broker Surety Bond | Get Quotes |
| Washington | Surety Bond to Operate Mortgage Broker Business | Get Quotes |
| Washington | Surety Bond to Operate Mortgage Broker Business with Independent Contractors | Get Quotes |
| Washington | Surplus Line Broker Bond | Get Quotes |
| West Virginia | Mortgage Broker Bond | Get Quotes |
| West Virginia | Mortgage Lender Bond | Get Quotes |
| West Virginia | Real Estate Broker or Salesman | Get Quotes |
| Wisconsin | Mortgage Banker Bond | Get Quotes |
| Wisconsin | Mortgage Broker Bond | Get Quotes |
| Wyoming | Mortgage Lender and Broker Bond | Get Quotes |
The Surety Bond offers comfort to the buyer since the bond deters the mortgage professional from conducting their responsibilities unethically. By enforcing the Surety Bond requirement, your state’s licensing board removes themselves from being financially responsible for complaints filed against your mortgage license.
How is a bond different from insurance?
Unlike traditional insurance, the Surety Bond does not provide coverage for you, the mortgage professional licensee. The bond functions more as a combination of a line-of-credit and insurance. There are three parties associated with the bond.
Principal – As the licensee, you are assigned the principal of the bond.
Obligee – The licensing department requiring you to get a Surety Bond.
Surety – The surety company that issues your bond.
The state licensing department enforces the Surety Bond requirement to prevent predatory lending activities and abuse of the mortgage lending processes to steal cash and equity from homebuyers and/or lenders.
Your clients are protected by your Surety Bond. They can make a claim against your bond if you commit any acts of fraud. If the surety’s investigation on the claim proves the claim is valid, they will payout to the claimant.
What happens if a claim is made on my bond?
Of course, you don’t plan on having a claim made against your bond. Your surety provider doesn’t expect you to receive a claim, either. This is why the cost of the bond is only a small portion of the necessary bond amount. Still, getting a claim is possible.
If a claim is made against your bond, the surety company performs a comprehensive investigation on the claim. A valid claim will result in the surety offering a payout of the full bond amount or less to the claimant. You are responsible, as the principal of the bond, for repaying the surety back in full.
Types of Mortgage License Bonds
Depending on the state you operate your business and the type of license you require, you may need a surety bond.
There is a bond for each type of licensee.
Mortgage Broker Bond
Mortgage Lender Bond
Mortgage Originator Bond
Mortgage Servicer Bond
Each state has different licensing requirements tied to the type of mortgage license you’re working towards. The best way to determine if you’ll need a Surety Bond is to contact your state’s licensing department. Or, you may lookup your state’s licensing requirements using the Nationwide Multistate Licensing System & Registry (NMLS) website. Also, we’ve created an interactive form to determine if you need a bond and if so, what bond amount is necessary.
How much does a Mortgage Surety Bond cost?
Both your credit and bond amount factor into calculating the cost of your Mortgage Surety Bond. As expected, the more risk the surety is taking on, the more premium is tied to the bond. However, applicants with good credit generally only pay 1%-3% of the total bond amount.
Can I qualify for a Surety Bond with bad credit?
Yes, you can receive approval for your Mortgage Surety Bond even with bad credit. Due to our partnerships with leading surety companies, we’re able to place applicants with non-standard credit. Since more risk is involved, non-standard quotes tend to fall in the 5%-15% of the full bond amount, if the applicant is approved.
If your bond requires a credit check, we will perform a soft-pull on your credit. Your credit score is not adversely impacted by a soft-pull.
Get a custom quote for your Mortgage Bond, today!
Where to get the best deal for my bond?
Our team at Surety Solutions, A Gallagher Company makes the process of getting a Mortgage Surety Bond quick and easy. Get multiple quotes from top surety companies to ensure you find the best deal for your bond. We’re licensed to issue bonds in every state.
We’ll help you get a single Mortgage Bond or a bond in every state.
We are proud of what we have done for the mortgage industry. We were the first licensed surety bond producer that was authorized in the NMLS to issue Electronic Surety Bonds. We care about making the industry a better, more efficient space.
When it comes to Mortgage Bonds, we help businesses of all sizes secure what they need. We are proficient in utilizing our resources and relationships so we can be competitive with any mortgage bond product. We hope you’ll partner with us and allow us to be part of your story.
Have a question? Our team of surety experts is excited to help! Send us an email to info@suretysolutions.com, use our contact form or give us a call at (866) 722-9239. We look forward to issuing your Mortgage Bond.
Additional Resources
Make sure you get your bond for the correct amount by checking with our calculator here.
How to avoid claims on your Mortgage Bond.
Everything you need to know about the Electronic Surety Bond (ESB) process.
Looking for another bond type?
View bonds for your state using the map below.
