South Dakota Mortgage Lender Bond
In South Dakota, mortgage brokers and lenders are required by the Division of Banking to obtain a Mortgage Broker/Lender Bond in the amount of $25,000, $35,000, or $50,000 as part of the licensing process. The bond serves as a financial safeguard for clients and the state against any losses caused by the licensee. The bonding company issuing the bond usually assesses the financial history and creditworthiness of the broker. The NNA has secured a premium of $6 per $1,000 in liability for all South Dakota Mortgage Brokers/Lenders without a credit check.
The Simple Bonding Process
View your price or request a free quote
Discover unbeatable value with coverage options tailored to your needs.
Sign your contract and pay the premium
Seal the deal and ensure protection and peace of mind for your business.
Receive your surety or fidelity bond
Expect a speedy turnaround. Our typical turnaround time is 24 hours or less.
Have Questions? Call or Chat With Us Today