Maine Supervised Lender | $50,000 Supervised Lender Surety Bond
Also known as: supervised lender bond
Type of Bond
A supervised lender bond is a type of surety bond that is required for certain financial institutions operating as supervised lenders. It serves as a financial guarantee that the lender will comply with all applicable laws, regulations, and licensing requirements governing their lending activities. The purpose of a supervised lender bond is to protect borrowers and the public from potential financial harm caused by the lender's non-compliance, fraudulent actions, or unethical practices. It provides an additional layer of assurance that the lender will operate in a responsible and trustworthy manner. The bond amount required for a supervised lender is typically determined by state laws or regulatory authorities. It serves as a form of financial security for borrowers, ensuring that they have recourse in case the lender fails to fulfill its obligations or engages in unlawful activities. In the event that the lender violates any laws or regulations, a claim can be made against the bond. If the claim is valid, the affected parties may be eligible to receive compensation up to the bond amount. However, it's important to note that the bond is not an insurance policy for the lender but rather a means of protecting borrowers and the public. By requiring supervised lenders to obtain a bond, regulators aim to promote integrity and accountability in the lending industry. It helps to safeguard the interests of borrowers, maintain fair lending practices, and foster trust in the financial system. In summary, a supervised lender bond is a surety bond required for financial institutions operating as supervised lenders. It guarantees compliance with applicable laws and regulations and protects borrowers from potential financial harm. The bond serves as a safeguard for the public and promotes integrity in the lending industry.
Program
The price you'll pay for your $50,000 Supervised Lender 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 $50,000 Supervised Lender 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 $50,000 Supervised Lender 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 Supervised Lender Bond Application process.
The Maine Supervised Lender Bond amount is currently set at $50,000.
Obligee Information
An obligee is the entity that is requiring you to have the Supervised Lender bond.
For your convenience you can view a sample copy of the Maine Supervised Lender Bond Form.
Obligee: Director Of The Office Of Consumer Credit Regulation
Street: 35 State House Station
State: Maine
Zip: 4333
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!