A Surety Bond, also known as a State Licensing Bond or Broker Surety Bond, is a state-mandated requirement that permits mortgage bankers and brokers to do business in a particular state.
Bankers Insurance Service understands each state’s current requirements, stays abreast of changes, and provides clients with Surety Bonds that not only meet the requirements, but are price competitive. Surety Bonds guarantee that the client’s business will:
- Comply with all applicable industry laws
- Properly account for and remit funds collected from clients and others
Bonds protect the public from misrepresentation and fraud and hold the state harmless for any misconduct.