The North Carolina Premium Finance Company - Initial/New Application Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Premium Finance Company - Renewal Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Investment Advisor Bond starts at $350 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Securities Dealer Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Good Funds Settlement Agent Bond starts at $3000 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Loan Broker Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Mortgage Broker Bond starts at $750 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Mortgage Lender Bond starts at $1500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Mortgage Servicer License Bond starts at $1500 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 North Carolina General 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 North Carolina Commissioner of Banks requires mortgage brokers to post a surety bond as part of the licensing process. The required bond amount varies depending on the broker’s aggregate mortgage loan volume the previous year:
Mortgage lenders are required to post a surety bond worth $150,000 at minimum.
The required bond costs for other finance bonds in North Carolina 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 North Carolina finance and mortgage broker bonds typically cost between 1% and 5% of the total bond amount. EZSurety has issued mortgage broker bonds in North Carolina for premiums as low as $750.
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 North Carolina 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 North Carolina, you must meet the following licensing requirements:
For information on obtaining other finance licenses in North Carolina, 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.
