The South Dakota Mortgage Lender Bond is required by the Division of Banking. The bond states that the bondholder will follow all provisions of SDCL Chapter 54-14 and any rules adopted pursuant to that chapter and the payment of any amounts owed by the bondholder to the State of South Dakota or another person.
In order to find out the cost of the surety bond, all we need is the completed application. Surety1 has access to the best surety markets available, so we will be able to get you bonded quickly at the best possible price!
Who is required to submit a South Dakota Mortgage Lender Bond?
The mortgage bond is a requirement for all mortgage lenders. A mortgage lender is defined as any person who for valuable consideration, originates, sells, or services mortgages, or holds himself, herself, or itself out as a person who, for valuable consideration, originates, sells or services mortgages. The application for a license may be done through the NMLS website.
How do I obtain a South Dakota Mortgage Lender Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.