Nebraska Mortgage Broker Bond

Nebraska Mortgage Broker Bond


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Summary

A Nebraska MVD bond, also known as a Nebraska Motor Vehicle Dealer bond, is a type of surety bond that is required by the Nebraska Department of Motor Vehicles (DMV) for individuals or companies that want to obtain a motor vehicle dealer license in the state of Nebraska. The bond ensures that the dealer will comply with all state laws and regulations related to selling motor vehicles and will operate in an ethical and lawful manner. The bond amount is determined by the number of vehicles sold by the dealer and must be at least $50,000. The bond is typically obtained through a surety bond company and requires the dealer to pay a premium based on the amount of the bond and their creditworthiness. If the dealer violates any laws or regulations, a claim can be made against the bond to provide financial compensation to affected parties.


What is an Nebraska Mortgage Broker Bond? 

Nebraska Mortgage Broker Bonds are required by Nebraska’s Department of Banking and Finance to obtain your Mortgage Broker license. The Nebraska Mortgage Broker Bond amount is set at $100,000.  This license is required for all companies or sole proprietorships that conduct mortgage lending, mortgage brokering, or mortgage servicing activities.


The State requires a Mortgage Broker bond for :  

$0.00 to $5,000,000.00

$100,000.00

$5,000,000.01 to $10,000,000.00

$125,000.00

$10,000,000.01 to $25,000,000.00

$150,000.00

Over $25,000,000.00

$200,000.00

 

Different parts of a bond:

There are 3 parts to a Mortgage broker surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the Mortgage Broker Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.


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Program:

You can buy your Nebraska Mortgage Broker Bond (Apply) online immediately


Nebraska Mortgage Broker Bond Information and Requirements:


$0.00 to $5,000,000.00

$100,000.00

$5,000,000.01 to $10,000,000.00

$125,000.00

$10,000,000.01 to $25,000,000.00

$150,000.00

Over $25,000,000.00


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$200,000.00