The bond states that the bond holder shall faithfully comply with any and all provisions of NH RSA 397-A and RSA 397-B and any and all rules, regulations, and orders issued by the Bank Commissioner of the State of New Hampshire.
The required amount for the New Hampshire Mortgage Broker 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.
This bond shall remain in full force and remain in effect during the period of license of the Principal or until cancelled. If the bond is to be cancelled, 30 days notice from the date of cancellation must be given to the Bank Commissioner.
Take a look at the NMLS New Application Checklist for this bond.
All licensing fees are required by the obligee, not the surety company.