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Alaska Mortgage Broker Surety Bond

Bond Requirements and Online Application

The Alaska Mortgage Broker Surety Bond is required by the Alaska Department of Commerce, Community, and Economic Development, Division of Banking and Securities.

Apply here for your Alaska Mortgage Broker Surety Bond today!

The Alaska Mortgage Broker Surety Bond protects customers against dishonest lending practices, including:

Alaska Mortgage Loan Originator Bond

• Knowingly approving a loan for more than the borrower can afford to repay
• Encouraging the buyer to use fraud during the application process
• Pressuring buyers into specific loan products, including high-risk loans or loans with higher interest rates
• Establishing an interest rate on the basis of anything other than the borrower’s credit history
• Charging additional or unnecessary fees
• Deliberately targeting at-risk buyers and suggesting cash-out refinance

Alaska Administrative Code, Title 3, Chapter 14 and the Alaska Statutes Chapter 06.60 Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010 outline the bonding and licensing requirements.

The Alaska Mortgage Broker Surety Bond amount depends on the average amount of mortgage loan volume serviced in a year; however, the bond amount required is generally $75,000.

Valid: 3 years – Renewable

Complete our fast and easy online application and get a free quote on your Alaska Mortgage Broker Surety Bond!

Licensing Fees and Requirements: 

  • Surety bond
  • License application through NMLS
  • Certificate of Authority or Good Standing Certificate
  • Business plan outlining marketing strategies, products, and target markets
  • Submission of Company Form (MU1)
  • Attestation form MU2
  • Financial Statements
  • Credit Report
  • FBI criminal background check
  • Qualifying Individual

All licensing fees are required by the obligee, not the surety company.

Licenses must be renewed annually on December 31st.

For additional licensing information, visit the Alaska Department of Commerce, Community, and Economic Development, Division of Banking and Securities website here.

CLICK HERE to apply for your Alaska Mortgage Broker Surety Bond today!

How to Get Your Alaska Mortgage Broker Surety Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your Alaska Mortgage Broker Surety Bond!   If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days

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