The Mississippi Mortgage Broker Bond is required by the State of Mississippi Department of Banking & Consumer Finance. The bond ensures that the principal will abide by all Mississippi state laws and regulations. According to Section 81-18-11 of the Mississippi State Code, the required bond amount is $25,000.
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.
A company that plans on conducting business as a Mortgage Broker concerning Mississippi residential property must be licensed.
What are the Licensing Fees and Requirements?
- Surety bond
- Application through NMLS
- $1601 License cost
- Proof of at least 2 year mortgage experience
- $100 NMLS licensing fee
All licensing fees are required by the obligee, not the surety company.
Where can I get a Mississippi Mortgage Broker Bond?
Surety1 can easily get you the bond that you need. You can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.
First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been in the business since 2003. We are licensed in all 50 states and our services have earned an A+ rating from the Better Business Bureau.