Who needs to submit an Arizona Mortgage Broker Bond?
The Arizona Mortgage Broker Bond is a requirement of any person, who for compensation (or in the expectation of compensation). Either directly or indirectly makes, negotiates or offers to negotiate commercial mortgage loans. The surety bond is required by the State of Arizona, State Banking Department, in compliance with A.R.S. Title 6, Chapter 9, Article 1. The typical bond amount is $15,000 if the mortgage broker uses any institutional investors, and $10,000 if not. This bond functions as a form of protection for any person injured or harmed by the wrongful act, default, fraud, or misrepresentation of the licensee or their employees. To determine the cost of this bond, simply complete our easy online application.
What is the process for getting a Arizona Mortgage Broker Bond?
Surety Solutions Insurance Services, Inc can easily get you the bond that you need. In most cases, it can take one business day or even less for a bond to be approved. We also offer the best rates as we are representing over a dozen A rated surety companies.
To begin the process of getting your Surety Bond, please complete our online application form. This will only take you a few minutes to do. Once submitted, wait for a call from one of our licensed surety agents which will come within one business day ( Monday – Friday). After you have paid the premium and signed some paperwork, we will send you your surety bond via USPS Priority Mail. For an additional fee, you may also choose overnight shipping.
Surety1 has been in the business since 2003. We are licensed in all 50 states and our services have earned an A+ rating from the Better Business Bureau.