The Kentucky Mortgage Broker Surety Bond is required by the Commonwealth of Kentucky, Department of Financial Institutions. The bond states that that the mortgage loan broker will follow any provisions of Kentucky Revised Statutes Chapter 286.8, with all regulations and orders.
The required amount for the surety bond is $50,000. The price for the bond also known as the bond premium is only a small fraction of the bond amount. The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.
Valid: Continuously – Renewable.
Due to its continuous nature, the Kentucky Mortgage Loan Broker Surety Bond remains in full force and effect until it is cancelled. The bond may be cancelled with thirty days notice to the obligee prior to the cancellation date.
Licensing Fees and Requirements:
- Surety bond
- Application through NMLS
- 2 years of direct mortgage experience
- 30 hours of education courses, if not licensed in another state
- $850 application fee
- Criminal background check
- Personal Financial Statement
How do I get a Kentucky Mortgage Broker Surety Bond?
At Surety1.com we make it easy. Our three step process for getting bonded is:
- Complete our easy to navigate and secure, online application. The name on the bond application must match exactly the Full Legal Name of applicant in NMLS.
- Review your free, no obligation quote from one of our professional surety agents, usually within one business day.
- Sign some paperwork and make payment (All major credit cards accepted).
Once these 3 simple steps have been completed, your bond will be filed electronically with the NMLS.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Surety1.com is the premier online provider of surety bonds nationwide since 2003. We also maintain an A+ rating from the Better Business Bureau.
Click here to visit our state-by-state guide to mortgage industry bonds
APPLY for this bond and get a free quote here
How to Get Your Kentucky Mortgage Broker Surety Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.