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| 200 East Randolph Street |
| 8th Floor Chicago, IL 60601 |
| Telephone: (800) 323-2743 |
| Facsimile: (312) 381-6195 |
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Bankers Insurance Service - State Licensing & Surety Bonds
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| State Licensing & Surety Bonds |
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| Downloadable Forms and ApplicationsDownloadable Forms and Applications |
| Surety Bond Supplemental Questionnaire/Application [PDF] |
| Fact Sheet [PDF] |
| Mortgage Banker/Broker Insurance Needs [PDF] |
| Who to Contact |
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| Product Description |
| A Surety bond is a compulsory requirement that allows mortgage bankers and mortgage brokers to do business in a given state. These bonds guarantee that the business will comply with all laws applicable to the industry and will properly account for and remit funds collected from clients and others. Bonds protect the public from misrepresentation and fraud by the principal and hold the state harmless for any misconduct. Although insurance companies are the accepted providers of Surety bonds, a Surety bond is not an insurance policy. |
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The following items are needed in order to get a surety bond line established with our surety markets:
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- Surety Bond application/supplement form. This form provides us ownership breakdown of the company. Please be sure to include owner's full name, social security number, and home address and the same for spouses as a personal guarantee will be required
- Most recent audited financial statements and current interim financials
- Personal Financials of acting President
- Resumes for each owner
- Operating Agreement/Articles of Incorporation
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If you would like additional information, please fill out this short form. or contact Veronica Rodriguez | | |
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