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North Carolina Mortgage Broker Bond
Bond Requirements and Online Application
The North Carolina Mortgage Broker Bond is required by the North Carolina Office of the Commissioner of Banks.
The North Carolina Mortgage Broker Bond ensures that the bond holder will follow all rules and regulations under Article 19B of Chapter 53 of the North Carolina General Statutes of the Mortgage Licensing Act.
The required bond amount is determined by the loan volume of the previous year:
A loan volume between $0 and $1,000,000 requires a $150,000 bond.
A loan volume between $1,000,000 and $4,999,999 requires a $175,000 bond.
A loan volume between $5,000,000 and $9,999,999 requires a $200,000 bond.
A loan volume between $10,000,000 and $49,999,999 requires a $225,000 bond.
A loan volume greater than $50,000,000 requires a $250,000 bond.
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: 1 year – Renewable
If this bond is to be cancelled, the obligee must be notified of the cancellation at least 90 days before the cancellation date.
Licensing Fees and Requirements:
$1,338 application fee
At least 18 years of age
Copy of most recent bank statement
All licensing fees are required by the obligee, not the surety company.
How to Get Your North Carolina Mortgage Broker 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 North Carolina Mortgage Broker Bond!If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply OnlineUsing our Free & Secure Application2. Get Your Free QuoteApplications are No-Obligation3. Get Your BondMost Bonds are Approved in 1-2 Business Days