Michigan 1st Mortgage Broker, Lender Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $25,000 | 1 Year | $150 |
First mortgage lenders and certain mortgage brokers in Michigan must meet state financial responsibility requirements as part of licensing or registration. Required by the State of Michigan, the Michigan 1st mortgage broker, lender bond helps ensure compliance with state mortgage lending requirements and provides financial protection for covered violations.
Cost of the Michigan 1st Mortgage Broker, Lender Bond
The cost of the $25,000 Michigan 1st mortgage broker, lender bond is $150 per bond term with NNA Surety. Secure this surety bond today.
How the Michigan 1st Mortgage Broker, Lender Bond Works
The Michigan 1st mortgage broker, lender bond provides financial protection by holding licensed or registered mortgage businesses accountable for complying with applicable state mortgage lending requirements.
The bond involves three parties:
- Principal: First mortgage broker or lender
- Obligee: State of Michigan
- Surety: Bonding company
A claim against the bond may be filed for covered violations of Michigan mortgage lending requirements. The principal is responsible for repaying valid claims paid by the surety.
How to Get the Michigan 1st Mortgage Broker, Lender Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the $150 bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your Michigan first mortgage license or registration.
Learn more about your Michigan surety bond options across the state.
Get Your Michigan 1st Mortgage Broker, Lender Bond
Stay on track with Michigan licensing or registration requirements by securing your first mortgage broker, lender bond today. Complete this form or call 855-457-2196 to get bonded.