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Minnesota Mortgage Servicer Bond

Minnesota Mortgage Servicer Bond

MN Residential Mortgage Servicer Bond

Minnesota Mortgage Servicer Bonds are available from NFP Surety. In lieu of this MN Mortgage Servicer Bond, the State of Minnesota will allow you to post $100,000 in an irrevocable letter of credit, or if the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation approves licensees as seller/servicers, a bond is not required.

Any company that engages in the activity of servicing a residential mortgage in the State of Minnesota is required to have a Residential Mortgage Servicer license. Servicing a MN residential mortgage loan means through any mode of communication the collection or remittance of, or the right or obligation to collect or remit for a lender, mortgagee, note owner, note holder, or for a person’s own account, payments, interest, principal, and escrow items such as insurance and taxes for property subject to a residential mortgage loan.

If you are interested in possibly obtaining a MN Mortgage Servicer Bond, feel free to contact us at (800) 863-3210, or complete an online application on our Application Page.

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Contact Info

Toll Free: (800) 863-3210

Fax: 623-486-3096

mlapre@nfp.com

 

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