Oklahoma Mortgage Broker Bond

Oklahoma Mortgage Broker Bond

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What is an Oklahoma Mortgage Broker Bond? 

Oklahoma Mortgage Broker Bonds are required by Oklahoma's OSBD to obtain your Mortgage Broker license. The Oklahoma Mortgage Broker Bond amount is set at $100,000. This license is required of any business entity, who for compensation or gain, or in the expectation of compensation or gain, takes a residential mortgage loan application or offers, negotiates or modifies the terms of an existing residential mortgage loan on Oklahoma residential property for others.

The State requires a Mortgage Broker bond for :  

 a $100,000 surety bond is required for this license.

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

Oklahoma Mortgage Broker Bond Information and Requirements:

All that is needed is a $100,000 surety bond for all loans.

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