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Montana Mortgage Broker Bonds

Montana Mortgage Broker Bonds

MT Mortgage Broker Bond

A Mortgage Mortgage Broker Surety Bond is required of any company or sole proprietorship that obtains, attempts to obtain, or assists in obtaining a mortgage loan for a borrower from a lender in return for, or in anticipation of, consideration.  NFP P&C Surety is a major provider of these and other mortgage broker bonds Nationwide.

The State requires that licensees provide an original Montana Mortgage Broker Bond in the following amount, based on loan production volume:

• $25,000 for a combined annual loan production that does not exceed $50 million a year
• $50,000 for annual loan production of $50 million but not exceeding $100 million a year
• $100,000 for annual loan production of more than $100 million a year.

An entity having no prior business history or a business history of less than one year shall purchase a MT Mortgage Broker bond in the amount of $50,000.00.

Montana Mortgage Lender Bond

A surety company authorized to conduct business in Montana must furnish the MT Mortgage Broker Surety Bond.  The name of the principal insured on the Mortgage Broker bond must match exactly the full legal name of applicant.

Please call our agency with any questions you may have about qualifying for this bond.  Our phone number is (800) 863-3210, or you may email us at mlapre@nfp.com

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Contact Info

Toll Free: (800) 863-3210

Fax: 623-486-3096

mlapre@nfp.com

 

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