Wisconsin Mortgage Broker | $10,000 Mortgage Broker Surety Bond
Also known as: mortgage broker bond, lender bond, mortgage broker license bond
Type of Bond
A Wisconsin mortgage broker bond is a type of surety bond that is required by the Wisconsin Department of Financial Institutions for individuals or companies acting as mortgage brokers in the state. The purpose of the bond is to provide a financial guarantee to the state and consumers that the mortgage broker will adhere to all applicable laws and regulations. To obtain a Wisconsin mortgage broker bond, the broker must work with a surety company who will issue the bond on their behalf. The bond amount required by the state varies based on the volume of loans the broker originates, with a minimum bond amount of $120,000. If a consumer suffers financial losses due to the mortgage broker's actions, they can file a claim against the bond. If the claim is found to be valid, the surety company will pay out the amount of the bond to the consumer, up to the bond amount. Having a Wisconsin mortgage broker bond is a requirement for all mortgage brokers operating in the state. It serves as a protection for consumers and helps ensure that mortgage brokers are held accountable for their actions.
Program
The price you'll pay for your $10,000 Mortgage Broker Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of $10,000 Mortgage Broker Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
Application
The application process for a $10,000 Mortgage Broker Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Mortgage Broker Bond Application process.
The Wisconsin Mortgage Broker Bond amount is currently set at $10,000.
Obligee Information
An obligee is the entity that is requiring you to have the Mortgage Broker bond.
For your convenience you can view a sample copy of the Wisconsin Mortgage Broker Bond Form.
Obligee: State Of Wisconsin Department Of Financial Institution
Street: 345 W Washington Ave
State: Wisconsin
Zip: 53703
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!