What is an Hawaii Mortgage Broker Bond?
Hawaii Mortgage Broker Bonds are required by Hawaii's Department of Commerce and Consumer Affairs to obtain your Mortgage Broker license. The Hawaii Mortgage Broker Bond amount is set at $100,000.
The State requires a Mortgage Broker bond for :
$100,000 as a base surety bond for all mortgage broker prices
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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Hawaii Mortgage Broker Bond Information and Requirements:
The Requirements for Hawaii say that you must get a $100,000 surety bond. You must also get a Certificate of Authority from the Secretary of State.