Alabama Mortgage Broker Bond
Mortgage brokers in Alabama are required to post a surety bond of $25,000 to $75,000, depending on the dollar amount of loans from the previous year; see table below.
| Aggregate Loan Amount | Bond Amount Required | Annual Premium |
| $0 - $25,000,000 | $25,000 | $150 |
| $25,000,001 - $100,000,000 | $50,000 | $300 |
| Over $100,000,000 | $100,000 | $600 |
Bond Details
Alabama Mortgage Broker Bond – $25,000 bond – $100 per year
Overview
Mortgage brokers in Alabama are required to post a $25,000 to $75,000 surety bond as a condition of licensure. The NNA has secured premiums of $6 per $1,000 in liability for all Alabama mortgage brokers to obtain this bond without a credit check. This bond meets the licensing requirements for Alabama mortgage brokers and lasts for one year.