In order for Money Brokers, formerly referred to as Mortgage Brokers, to maintain an active license with the State of North Dakota Department of Financial Institutions, Consumer Division, a $25,000 surety bond must be filed. This surety bond acts as protection for the consumer or anyone transacting business with the broker in North Dakota.
These surety bonds are now filed electronically (ESB) by the surety agency in the NMLS system. In conjunction with the bond, a few additional items are to be filed as part of the application process:
- Financial statements
- Business Plan / Statement of Business History and Current Operations
- Certificate of Authority/Good Standing Certificate
- Formation Documents
- Management Chart
- Organizational Ownership Chart/Description
- FBI Criminal Background Check
Pacific Surety offers industry low rates and can obtain approvals for almost all credit situations. Once our simple application has been completed, we can have pricing to you within hours. If you have any specific questions, please contact our knowledgeable underwriting staff.
Surety Bond Name
Mortgage Broker Surety Bonds – North Dakota
$25,000Request a Free Quote