In addition to Mortgage Bankers and Brokers, servicers in Nevada must also post a Mortgage Servicer License Bond.
State of Nevada Department of Business & Industry, Division of Mortgage Lending regulates the mortgage industry within the state. In the state of Nevada, a mortgage servicer license is required for:
Any person that conducts any of the activities described above must apply for and obtain a mortgage servicer license, unless the person is otherwise exempt under Chapter 645F of the Nevada Revised Statutes.
The bond amount for the mortgage servicer license bond varies depending on the volume of mortgages that are serviced. The bond amounts are:
The underwriting of this obligation is credit based and financial disclosure will be required to obtain the higher limit bonds. Surety1 represents more than a dozen surety companies to get you the bond you need at the best possible price. We are licensed nationwide to handle all of your bond needs.