The Missouri Money Transmitter Bond starts at $1000 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Missouri Third Party Administrator Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Missouri Title Loan Lender Bond starts at $200 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Missouri Check Issuer Bond starts at $1000 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Missouri Consumer Credit Lenders Bond starts at $1000 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Missouri Debt Adjusters Bond starts at $1000 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Missouri Residential Mortgage Loan Broker Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The United States Trustee US Trustee Program Nonprofit Budget and Credit Counseling Agency Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
Finance and mortgage broker bonds are legally binding agreements between three parties:
The bonds provide a guarantee that licensed finance professionals conduct business in compliance with the regulations set forth in the Missouri Revised Statutes
If the finance professional fails to comply with the regulations, the surety company will pay out financial losses to damaged parties up to the full bond amount. The finance professional is liable to reimburse the surety for any damages paid under the bond.
The Missouri Division of Finance requires residential mortgage loan brokers to post a surety bond worth at least $50,000 as part of the licensing process. The bond requirements for other finance bonds in Missouri are as follows:
The surety company issuing the bond determines your premium rate, which is the percentage of the total bond amount you pay as the premium. Premium rates for the Missouri finance and mortgage broker bonds typically cost between 1% and 5% of the total bond amount. EZSurety has issued mortgage lender bonds in Missouri for premiums as low as $500.
During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history. Applicants with good credit generally receive the lowest rates, however, bad credit will not prevent you from securing a Missouri mortgage broker bond. EZSurety still offers competitive rates to individuals with low credit scores or other financial issues.
To become a licensed mortgage broker in Missouri, you must meet the following licensing requirements:
For information on obtaining other finance licenses in Missouri, you can visit the NMLS Resource Center.
You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.
Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.
