877-654-2327 All New Surety Bonds

877-930-8127 - Renewals Department
Surety1 was Founded in 2003.  Low-Cost Bond Provider.  Over 150,000 Happy Customers and Counting!   Apply For Your Bond >

Michigan Mortgage Servicer Bond

Bond Requirements and Online Application

The Michigan Mortgage Servicer Bond is required by the Department of Insurance and Financial Services. The bond amount is $125,000. Only Surety companies authorized to conduct business in the state can write the bond. The bond states that the bondholder shall comply with the rules and regulations of the State. 

What is a Mortgage Servicer?Michigan Mortgage Servicer Bond

A Mortgage Servicer is a person or entity who services or offers to service mortgage loans for residential property. A 2nd Mortgage Servicer is someone who services subordinate loans for residential property.

The Office of Consumer Finance issues licenses to over 13,000 mortgage and consumer finance entities doing business in Michigan. In addition, their role is to supervise. They ensure that all shall operate safely, responsibly, and in accordance with applicable law.

Individuals who want to be a Mortgage Servicer must first be licensed. The Mortgage Servicer Bond is one of the licensing requirements.

What are other licensing requirements to become a Mortgage Servicer?

Individuals can apply for a license on the Nationwide Multistate Licensing System and Registry (NMLS) website. Payment of the $1,000 application  fee and the $450 investigation fee per application must be submitted. In addition, applicants mush show a minimum net worth of $100,000. Before receiving a Mortgage Servicer license a criminal background check will be conducted.

Why should I choose Surety1 for my Michigan Mortgage Servicer License Bond?

Surety1 has years of experience behind every bond we write. To start the process, complete our easy to navigate, free online application form.  After that, you will be contacted by one of our licensed agents with a no-obligation quote on the bond premium. Next, when you’re ready to proceed we’ll collect the premium and have you sign the agreement. Lastly, we will send your Michigan Mortgage Servicer Bond through USPS Priority Mail. Overnight delivery is available for an additional fee.

Surety1 has been a premier provider of surety bonds since 2003. We have an A+ rating from the Better Business Bureau.

 

 

 

How to Get Your Michigan Mortgage Servicer 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 Michigan Mortgage Servicer 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

Surety

Secure

Online