Access a Wider Array of Surety Bonds for Mortgage Brokers, Appraisers, Property Managers, Escrow and Real Estate

For Mortgage Brokers

For most mortgage brokers, your state likely requires you to have a license, and may also require each mortgage broker to purchase your own Surety Bond as a condition of the license. Or your mortgage brokerage may purchase a Surety Bond to cover its mortgage brokers.

For Escrow Licensees

If your state uses escrow, each escrow licensee likely needs a Surety or Fidelity Bond.

For Appraisal Management Companies

Depending on your state, your appraisers and Appraisal Management Company (AMC) may be required to have a Surety Bond. When you apply for a bond, you agree to comply with all state laws and federal regulations concerning appraisals. A Surety Bond provides a method for someone to be compensated for a loss as a result of appraisal misconduct or negligence.

For Property Managers

As part of the licensing process, some states require property managers to have a Surety Bond. The bond benefits the property owner, and assures the owner the property manager will act ethically and professionlly in managing the property.

For Real Estate Brokers and Licensees

Some real estate brokers and licensees may be required by your state licensing board to have a Surety Bond. The bond may be used to reimburse the public for a licensee’s unlawful or unethical act.

How Surety Bonds Work

THE AGREEMENT: When you purchase your Surety Bond, you’ll agree to adhere to the rules and regulations of your state.

CLAIMS: The bond provides compensation for clients that may be harmed financially due to misleading or fraudulent lending, escrow, real estate, appraisal, or property management practices. An individual may make a claim against the bond, and if successful, the bond company will compensate the individual for their losses. The purchaser of the bond (mortgage broker, escrow licensee, appraiser, property manager, or real estate licensee) will then repay the amount of the individual’s losses to the bond company.

BOND PREMIUM: Your Surety Bond premium will usually be paid annually. The premium can range from 1% to 7% of the bond amount, depending on the strength of your credit.

AMOUNT OF THE BOND: The amount of the bond required is usually set by your state. For example, the amount of the Surety Bond may depend on the number of mortgage brokers covered, and the amount of mortgage loans originated in the previous year. For escrow licensees, the amount of the bond may depend on  the size of the escrow company and your escrow liability.

Buy Your Bond Online

Buying a Surety Bond is easier than ever thanks to our partnership with Surety Solutions, the bond experts (who are a part of Arthur J. Gallagher, like CRES). You can now get a quote and bind your bond, all online.

Just click the link below, enter your information, and follow the screens.

Not sure what type of bond you need? Have questions or issues with the application? Contact Surety Solutions. They also handle Surety Bonds previously issued through CRES:

Call 866 722 9239