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What is a New York – Licensed Mortgage Banker Bond
A licensed mortgage banker bond (MBB) provides coverage and protection for a bank or mortgage servicer as well as their employees. This is available to those with jobs in this field only, which makes it unique from other types of insurance that are more general.
Need a Licensed Mortgage Banker Bond?
Swiftbonds is a leading provider of Licensed Mortgage Banker Bonds in New York. We offer the best rates and terms to meet your needs. Contact us today for more information on our services!
Swiftbonds offers competitive rates and flexible terms so you can get the bond that meets your needs. Whether you need a one-time bond or an annual renewal, we have what you're looking for. Get started by filling out this form and someone will be in touch with you shortly!
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Why is the Licensed Mortgage Banker Bond required?
Businesses must purchase a bond to activate their license or permit. This guarantees that if the business fails to comply with licensing and permit laws, they will be compensated by the surety company for any damages incurred due this negligence. See a New York – Authorized Sanctioning Entity ($20,000) Bond.
How does a Licensed Mortgage Banker Bond work?
Getting a Licensed Mortgage Banker Bond means you agree with the entity requiring it, called the obligee. Your surety company agrees to cover for you in case your clients or public make claims against their contract and need payment from your bond. If there’s ever any problems on either side of this agreement, only then will we get involved so that both parties can be satisfied. Here's a New York – Authorized Sanctioning Entity ($10,000) Bond.
How much does a Licensed Mortgage Banker Bond cost?
Licensed Mortgage Banker Bond is a type of surety bond that varies in cost and depends on the credit score of the applicant. Sometimes, personal or business financials may be required depending on what surety amount is needed for bonding purposes.
Can I get a Licensed Mortgage Banker Bond with bad credit?
Swiftbonds offers a wide-range of approvals, regardless of credit history or bad credit. One key factor in our success is that we are able to work with 99% of applicants who have been turned down elsewhere due to their poor financial standing. Our knowledgeable underwriting staff will make sure you get the lowest possible price for your bond no matter what personal circumstances may be preventing you from getting approved for other companies' bonds. Get a New York – Appearance Enhancement Wage Payment (Nail Salon) Bond.
How to get your Licensed Mortgage Banker Bond?
Would you like to know the first step in getting your Licensed Mortgage Banker Bond? It's super easy! Fill out our quick online application and get a no obligation quote today. Our Underwriters will contact you within an hour of submission, or come chat with them on the phone for help applying. Read a New York – Appearance Enhancement Business Bond.