Arizona Mortgage Professionals Bond
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How Much Do Arizona Mortgage Broker Bonds Cost?
Arizona mortgage brokers need a $10,000 or $15,000 surety bond. If the agency provides services to institutional investors only, the bond amount is $10,000. But, if investors are both institutional and non-institutional, the bond amount is $15,000.
Premiums start at just $100, but vary per applicant. Apply for a personalized quote today. You can save 25% on select bonds by choosing a multi-year term at checkout.
How Much Do Arizona Mortgage Banker and Loan Originator Bonds Cost?
Mortgage banker bond requirements in Arizona vary from $25,000 to $100,000 depending on the type of investors you work with and the volume of loans. Premium rates are typically 0.75-3% of the full coverage amount.
Arizona mortgage loan originators are required to get a $200,000 bond with premium rates typically between 1–5%. Select the bond you need below to get a free quote:
SuretyBonds.com works with the nation’s top surety providers to find the lowest pricing with no added fees. Ask your account manager about multi-year discounts and premium financing options.
Who Needs an Arizona Mortgage Professional Bond?
The Arizona Department of Insurance and Financial Institutions requires licensed mortgage brokers, bankers and loan originators to maintain an active surety bond policy.
- Arizona Mortgage Broker: Finds, compares and negotiates offers for mortgage loans on commercial or residential properties within the state.
- Arizona Mortgage Banker: Directly or indirectly makes, negotiates or offers to make or negotiate a mortgage banking loan or mortgage loan.
- Arizona Mortgage Loan Originator: Takes applications for residential mortgages and/or negotiates with a lender or note holder on behalf of a borrower.
If you work as a mortgage professional in other states, we offer mortgage industry license bonds nationwide.
How Do I Get a Mortgage Broker, Banker or Originator Bond in Arizona?
Choosing SuretyBonds.com is the quickest and easiest way to get your Arizona mortgage bond. Just follow these four steps:
- Step 1: Apply for your bond online
- Step 2: Receive a free quote within one business day
- Step 3: Pay for your invoice online or over the phone
- Step 4: File the bond form with the Arizona Department of Insurance and Financial Institutions
For bankers and brokers, you will receive your bond via email immediately after you purchase.
Loan originators will receive the original bond document in the mail. If you’re in a rush, select next-day or overnight shipping.
How Do I Renew My Arizona Mortgage Bond?
These bonds remain active unless canceled by the surety or the principal. If either party decides to terminate the bond early, they must provide 30-days’ written notice to the Arizona Department of Insurance and Financial Institutions.
When your term expires, we’ll contact you to extend your bond for another term. It’s important to renew your bond to maintain active licensure. From there, here’s what our simple process looks like:
- Pay your premium online or over the phone
- Sign and submit any additional documentation, if required
- File renewal documentation with your obligee, if required
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Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
