The Mississippi Check Cashers Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Consumer Loan Broker Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Consumer Loan Broker Multi Offices Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Credit Availability Act (Payday Lender) Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Money Transmitter Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Small Loan Broker Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Small Loan License Single Office Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Mortgage Broker Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Mortgage Lender Bond starts at $1500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Mississippi Title Pledge Act 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 license regulations like those set forth in the Mississippi S.A.F.E. Mortgage Act.
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 Mississippi Department of Banking and Consumer Finance requires mortgage brokers to post a $25,000 surety bond as part of the licensing process. The bond requirements for other finance bonds in Mississippi 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 Mississippi finance and mortgage broker bonds typically cost between 1% and 5% of the total bond amount. EZSurety has issued mortgage broker bonds in Mississippi for premiums as low as $250.
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 Mississippi 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 Mississippi, you must meet the following licensing requirements:
For information on obtaining other finance licenses in Mississippi, 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.
