A Mortgage Broker Bond is a type of surety bond required by the State of Alabama for mortgage brokers operating in the state. The bond guarantees that all mortgage brokers will comply with the state's laws and regulations related to the mortgage industry. The purpose of the bond is to ensure that borrowers are protected from any unethical or fraudulent activities by the broker. The bond also guarantees that the broker will comply with all of the terms and conditions of their loan contracts. The bond must be purchased from an authorized surety company and will be in the amount of $50,000. The bond must be renewed every two years and will remain in effect until cancelled by the surety.
The price you'll pay for your $25,000 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 $25,000 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.
The application process for a $25,000 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 Alabama Mortgage Broker Bond amount is currently set at $25,000.
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 Alabama Mortgage Broker Bond Form.
Obligee: State Of Alabama