Hawaii Mortgage Broker Bond

Secure Your Mortgage Broker License in Hawaii – Get Your Bond Now.

What is a Hawaii Mortgage Broker Bond?

A Mortgage Broker Bond is a type of surety bond required by the Hawaii Division of Financial Institutions (DFI) for individuals or businesses applying for a mortgage broker license. This bond serves as a financial guarantee that brokers will comply with state laws and protect clients from potential fraudulent or unethical practices. If a broker violates the terms of the bond, claims can be filed, and the bond will cover financial damages up to the bond amount.

Why Do You Need a Mortgage Broker Bond?

The state of Hawaii mandates that all mortgage brokers and loan originators have this bond as part of the licensing process. This requirement provides assurance to your clients and the state that you will conduct your business in an honest and professional manner. If any unethical actions occur, such as mishandling funds or fraudulent activity, the bond provides financial protection to those affected.

How Much Does the Bond Cost?

The cost of a Hawaii Mortgage Broker Bond varies based on several factors, including your credit score and financial history. Typically, the premium you pay will be a small percentage of the bond amount required by the state. For example, for well-qualified applicants, the premium could range between 1% and 5% of the bond amount.

How to Get Your Hawaii Mortgage Broker Bond

At [Your Company Name], we make it easy to get your bond quickly. Follow these steps to secure your bond:

  1. Get Started – Fill out a simple online form with basic information about your business.
  2. Get Your Quote – Based on your credit score and application details, you’ll receive a competitive quote.
  3. Issue Your Bond – Once accepted, we’ll issue your bond promptly so you can submit it as part of your licensing application.

Ready to Get Started?

Protect your business and ensure compliance with Hawaii’s mortgage regulations by securing your Hawaii Mortgage Broker Bond today. Contact us or apply online to get your bond in minutes!

State Specific Bond Requirements

Mortgage Broker Surety Bond Amounts by State:

  1. Alabama: $25,000
  2. Alaska: $75,000
  3. Arizona: $10,000 – $15,000
  4. Arkansas: $100,000
  5. California:
    • Under the California Finance Lenders Law (CFLL): $25,000 – $100,000 (based on loan volume)
  6. Colorado: $25,000
  7. Connecticut: $50,000 – $100,000 (based on loan volume)
  8. Delaware: $25,000
  9. District of Columbia: $12,500 – $50,000 (based on loan volume)
  10. Florida: $10,000
  11. Georgia: $150,000
  12. Hawaii: $50,000
  13. Idaho: $25,000
  14. Illinois: $50,000
  15. Indiana: $50,000 – $100,000 (based on loan volume)
  16. Iowa: $100,000
  17. Kansas: $50,000
  18. Kentucky: $50,000 – $500,000 (based on loan volume)
  19. Louisiana: $25,000
  20. Maine: $25,000 – $100,000 (based on loan volume)
  21. Maryland: $50,000 – $150,000 (based on loan volume)
  22. Massachusetts: $75,000
  23. Michigan: $25,000
  24. Minnesota: $100,000
  25. Mississippi: $25,000
  26. Missouri: $50,000
  27. Montana: $25,000
  28. Nebraska: $100,000
  29. Nevada: $50,000
  30. New Hampshire: $50,000
  31. New Jersey: $150,000
  32. New Mexico: $50,000
  33. New York: $10,000 – $100,000 (based on loan volume)
  34. North Carolina: $75,000
  35. North Dakota: $25,000
  36. Ohio: $50,000
  37. Oklahoma: $100,000
  38. Oregon: $50,000
  39. Pennsylvania: $100,000
  40. Rhode Island: $50,000
  41. South Carolina: $50,000
  42. South Dakota: $25,000
  43. Tennessee: $90,000
  44. Texas: $50,000
  45. Utah: $25,000 – $50,000 (based on loan volume)
  46. Vermont: $25,000
  47. Virginia: $25,000 – $100,000 (based on loan volume)
  48. Washington: $30,000 – $150,000 (based on loan volume)
  49. West Virginia: $50,000
  50. Wisconsin: $300,000
  51. Wyoming: $25,000

Notes:

  • Variable Bond Amounts: Some states, such as California, Connecticut, Indiana, Kentucky, Maryland, New York, and Washington, have bond amounts that vary based on the loan volume or other factors related to the size of the business.
  • eBond Requirements: Many states accept or require bonds to be submitted electronically through the NMLS platform.

It’s important to consult with the NMLS Resource Center or your state’s mortgage regulatory agency to confirm the specific bond amount for your business, as these amounts may change or have additional requirements based on your unique situation.

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