Arkansas - Combination Mortgage Banker/Broker/Servicer
A licensee with the combination mortgage broker/banker/servicer license in the state of Arkansas are required to post a surety bond between $100,000 and $200,000 depending on previous years volume. New applicants must post a bond amount of $100,000.
| Aggregate Loan Amount | Bond Amount Required | Annual Premium |
| $0- $10,000,000 | $100,000 | $600 |
| $10,000,001- $25,000,000 | $150,000 | $900 |
| Over $25,000,000 | $200,000 | $1,200 |
Overview
Mortgage Banker Bond
Mortgage bankers in Arkansas are required to post a $100,000 to $200,000 surety bond as a condition of licensure. NNA Surety has secured $600 to $1,200 flat rates for all Arkansas mortgage bankers to obtain this bond without a credit check. This bond meets the licensing requirements for Arkansas mortgage bankers and lasts for one year. Each mortgage broker must file for renewal between November 1 and December 31 of the calendar year.
Mortgage Broker Bond
Mortgage brokers in Arkansas are required to post a bond with a liability amount of $100,000, $150,000, or $200,000 as a condition of licensure. NNA Surety has secured fixed premium rates of $6 per $1,000 in liability $1,200 flat rates for all Arkansas mortgage brokers without a credit check or review of financials (up to $1M in aggregate liability). This bond meets the licensing requirements for Arkansas mortgage brokers and lasts for one year. Each mortgage broker must file for renewal between November 1 and December 31 of the calendar year.
Mortgage Servicer Bond
Mortgage servicers in Arkansas are required to post a $100,000 to $200,000 surety bond as a condition of licensure. NNA Surety has secured $600 to $1,200 flat rates for all Arkansas mortgage servicers to obtain this bond without a credit check. This bond meets the licensing requirements for Arkansas mortgage brokers and lasts for one year. Each mortgage broker must file for renewal between November 1 and December 31 of the calendar year.