The Wisconsin Mortgage Broker Bond is required by the State of Wisconsin Department of Financial Institutions.
The Wisconsin Mortgage Broker Bond is in place to help guarantee that the principal will comply with the provisions of the Wisconsin Statutes and Annotations and ensures that the principal will pay any and all money that may become due in case of noncompliance.
The required bond amount is $120,000.
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.
Licensing Fees and Requirements:
- Surety bond
- Application through NMLS
- $850 application fee
- Financial statements
All licensing fees are required by the obligee, not the surety company.
CLICK HERE for additional licensing information from the Wisconsin Department of Financial Institutions.
APPLY for this bond and get a free quote here