Iowa Closing Agent Bond
An Iowa closing agent bond is required for individuals or businesses who facilitate real estate transactions by handling escrowed funds, preparing and recording closing documents, and ensuring all parties comply with state and contractual requirements at settlement.
Required by the Iowa Department of Insurance and Financial Services, the Iowa closing agent bond protects consumers and the state by guaranteeing that closing agents properly manage client funds and follow Iowa laws and regulations.
Iowa Closing Agent Bond Cost
The cost of an Iowa closing agent bond is a small percentage of the $25,000 bond amount. The premium you pay will be based on your credit profile and business background.
| Bond Amount | Premium |
| $25,000 | Varies |
How an Iowa Closing Agent Bond Works
An Iowa closing agent bond is a three-party agreement that provides financial protection if laws or fiduciary duties are violated. The parties involved include:
- Principal: The closing agent required to secure the bond
- Obligee: The Iowa Division of Banking, which requires the bond for regulatory compliance
- Surety: The bonding company that issues the bond and guarantees payment of valid claims
If a closing agent mismanages funds, commits fraud, or violates Iowa regulations, an injured party may file a claim against the bond. The surety investigates the claim and, if valid, compensates the harmed party up to the bond amount. The closing agent is then legally responsible for reimbursing the surety for any paid claim.
How to Get an Iowa Closing Agent Bond
Getting bonded is a straightforward process with NNA Surety. To meet bonding requirements for licensure, follow these steps:
- Complete our online application.
- Receive a quote based on your credit.
- Pay the premium and receive your bond.
- File the bond with the Iowa Division of Banking as required.
Get Your Iowa Closing Agent Bond
Stay compliant and protect your business with the Iowa closing agent bond. Our streamlined application process makes it easy to get bonded quickly and affordably. Call 855-737-0193 today to receive your quote and move forward with confidence.