AK Mortgage Lenders Bonds
Alaska $75,000 Mortgage Lenders Surety Bonds are required by the Division of Banking and Securities from those who wish to be licensed as an AK Mortgage Lender. All Alaska Mortgage Brokers or Lenders that make or provide mortgage loans shall be required to obtain a license and an AK Mortgage Broker Bond.
An AK Mortgage Broker is any person who for compensation or gain or in the expectation of compensation or gain arranges with a variety of lending sources, who may be private lenders, institutional investors, or wholesale lenders, to provide financing for mortgage loans; or assists or offers to assist a borrower or potential borrower to obtain financing for mortgage loans.
An Alaskan Mortgage Lender is any company that consummates and funds a residential mortgage loan on Alaska property and who is named as the payee in the promissory note and as the beneficiary of the deed of trust.
A Mortgage Broker/Lender in the State of Alaska is prohibited from using more than one trade name, fictitious name or DBA for each license obtained. Additional DBAs must be licensed separately. Alaska will only license six (6) DBAs or fictitious names per company.
For more information regarding Alaska Mortgage Broker Licensing Requirements, please visit: http://mortgage.nationwidelicensingsystem.org/slr/PublishedStateDocuments/AK-Broker-Lender-License-Description.pdf, or, http://www.commerce.state.ak.us/occ/mortgagelicensing/mortgage_highlights.htm.
NFP Surety is a major provider of the $75,000 Alaska Mortgage Broker/Lender bond. For more information please call (800) 863-3210, or complete and online or downloadable application today.