The Nevada division of mortgage lending requires a Nevada Credit Services Bond as part of the licensing process. Before advertising its services or conducting business in the state of Nevada, an organization must register with the Nevada Division of Mortgage Lending and provide a bond in the amount of $100,000 with the Division.
What does the Nevada Credit Services Bond cover?
First you must understand that a surety bond does not protect you, the credit services organization. The bond is to protect the public from deceptive practices. Under NRS 598.746, prohibited acts include Receiving money before complete performance; receiving money for referral to provider of credit; misleading statements; other fraudulent or deceptive acts. If the surety suffers a loss on the Nevada Credit Services Bond, it will seek reimbursement from the bond principal for the amount of the loss sustained and its legal expenses.
How do I get a Nevada Credit Services Bond?
We offer an easy to use, online application. Once we receive the application you will be contacted by one of our friendly and professional bond agents with a firm quote (in some cases additional information maybe required). After receiving the quote, there will be some paper work you will need to complete and you will need to make payment, then the bond will be shipped. Overnight shipping is an option for an additional fee. Yoursuretybond.com is a service of Surety Solutions Insurance Services, Inc.; A+ rated bond specialists since 2003.