What Is a Hawaii Mortgage Servicer Bond?
Hawaii Revised Statute 454M-4 requires mortgage servicers to purchase a $100,000 surety bond as part of the licensing process. By filing this bond, Hawaii money servicers agree to abide by all related legislation.
How Much Do Hawaii Mortgage Servicer Bonds Cost?
The cost of a $100,000 Hawaii mortgage bond starts at just $1,000. We'll provide your exact cost after a quick review of your application and credit history. Apply now for your personalized quote.
How Do I Get a Hawaii Mortgage Servicer Bond?
Apply in minutes using the form on this page. Provide your name and address for the Department of Commerce and Consumer Affairs Division of Financial Institutions and the NMLS filing approval to buy your bond online. After your pay for the bond, we'll mail your official bond documents.
If you have questions about application, call 1 (800) 308-4358 to speak with a friendly surety expert. We're here to guide you through the bonding process so you can get back to running your business.
How Fast Can I Get a Mortgage Servicer License Bond in Hawaii?
We quote and deliver Hawaii mortgage servicer bonds quicker than any other surety company. If you apply during business hours, you'll receive a same-day quote.
In a rush? Overnight shipping is available for your official bond form.
Why Do I Need a Hawaii Mortgage Servicer Bond?
This bond acts as financial protection for consumers if you fail to comply with rules and regulations regarding mortgage services. If an individual suffers damages, they can make a claim for reimbursement up to the full bond amount. As the principal, you must reimburse the surety for all valid claims.
Who Regulates Licensing for Mortgage Servicers in Hawaii?
The Hawaii Department of Commerce and Consumer Affairs Division of Financial Institutions enforces licensing requirements and regulations for mortgage servicers. You can contact the Division by calling 1 (800) 586-2820 or emailing [email protected].
How Do I Renew My Hawaii Mortgage Services License?
If you don't renew, your mortgage servicer license will expire on December 31 each year. You can apply for a renewal by submitting a renewal statement from NMLS. You must pay the license renewal and processing fees at least four weeks prior to December 31.
How Do I Update My Hawaii Mortgage Servicer Bond Form?
If the Division of Financial Institutions requires your bond documentation to be updated for any reason, contact us to explain the change. The most common changes for this bond include updating the name and address to match how it appears on your license.
How Do I Renew My Mortgage Servicer Bond?
You must renew your Hawaii mortgage servicer bond when the state-issued one-year term expires. Once you pay your SuretyBonds.com renewal invoice, we'll email you renewal instructions to keep your bond active for the next year.
How Do I Apply for a Mortgage Servicer License in Hawaii?
You can get a Hawaii mortgage servicer license by completing the steps below:
- Complete your mortgage servicer license application through the Nationwide Multistate Licensing System (NMLS).
- Purchase a $100,000 bond.
- Pay the the $675 application fee and the $100 NMLS initial processing fee.
- Complete the documents and requirements listed in the application checklist.
