- License and Permit Bonds/
- Mortgage License Bonds/
- Missouri Mortgage Company License Bond
Missouri Mortgage Company License Bond
Bond Details
- MO Mortgage Company License Bond – $50,000 bond – $300 per year
- MO Mortgage Company License Bond – $75,000 bond – $450 per year
- MO Mortgage Company License Bond – $100,000 bond – $600 per year
- MO Mortgage Company License Bond – $150,000 bond – $900 per year
- MO Mortgage Company License Bond – $200,000 bond – $1,200 per year
- MO Mortgage Company License Bond – $250,000 bond – $1,500 per year
Overview
Residential mortgage loan brokers are required to obtain a surety bond as part of their licensing process through the Division of Finance. The bond is intended to provide a level of financial protection to consumers who engage with the broker's services.
The bond amount is determined based on factors such as the broker's loan volume and financial standing, with minimum requirements ranging from $50,000 to $500,000. The bond must be obtained from a state-approved surety company. It's essential for brokers to maintain an active and valid bond throughout their licensing period to ensure ethical and lawful practices within the state.
No credit check or financials needed up to $1M in aggregate bonds. Your bond premium (your cost) is $6 per $1,000 of the bond amount.