The Colorado Mortgage Broker Bond is required by the State of Colorado to be in the amount of $25,000. These bonds start at a price of $250 for the year. The bond is in place to protect any person or persons in case the mortgage broker does not follow the Colorado Mortgage Broker Registration Act.
According to the Colorado Department of Regulatory Agencies, anyone, whether an individual or a company, who originates or modifies a mortgage loan must have a license. You can apply for a license through the local government website portal. The steps required to apply for a Mortgage Loan Originator license are as follows:
The process of getting the surety bond is easy. We offer an easy to use online application that can be completed in a matter of minutes. Within one day of your submission you will be contacted by one of our licensed agents with a firm quote for your bond. Once any necessary paperwork is signed and payment is collected, your licensed agent will ensure your bond is uploaded onto your NMLS account. Shipping options are also available.
Surety1 is licensed in all 50 states and is rated A+ by the Better Business Bureau. Surety1 has been writing surety bonds in Colorado since 2003.