Surety Bonds for Mortgage Brokers
Nearly every state requires mortgage bankers, mortgage brokers, and mortgage lenders to have a license and purchase their own surety bond. A surety bond guarantees that you will adhere to the rules and regulations of your state licensure codes and protects consumers against misleading or fraudulent lending practices.
With access to three bond companies, CRES has the ability to secure bonds for almost any credit rating at competitive prices.
- 1-year bonds starting at $150.00 for good credit
- 1-year bonds starting at $250.00 for less-than-perfect credit
- May be issued the same day based on credit ratings
- Coverage for past and future appraisals
* Colorado requires mortgage brokers to have a $25,000 surety bond
* California recommends that mortgage brokers have a $50,000 surety bond
Let’s Get Started
Let’s discuss your needs and choose the right coverage for your business.