The Vermont Mortgage Broker Bond is required by the state of Vermont for company or person who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly negotiates, places, assists in placement, finds or offers to negotiate, place, assist in placement or find mortgage loans, other than commercial loans, on real property located in Vermont for others. The surety bond is one of the requirements when applying for a license at the NMLS website and the amount is set at $25,000.
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!
What are the other requirements for getting a Vermont Mortgage Broker License?
- Payment of $500 for the license fee, $500 for the application fee and $100 for the NMLS processing fee
- Company form MU1
- Financial statements
- Registered agent
- Primary contact employees
- Bank account
- Credit report
- FBI criminal background check
- Business plan
- Certificate of Authority/Good Standing Certificate
- Document samples
- Formation documents
- Trust account authorization
- Management Chart Organizational Chart
- Company staffing and internal policies
- Credit report explanations
How do I obtain a Vermont Mortgage Broker Surety 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.