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Hawaii Mortgage Servicer Bond

How much will my Hawaii mortgage servicer bond cost?

If you service mortgage loans for property located in Hawaii, you are required to post a surety bond. Bond premiums must be posted in the amount of $100,000. These bonds are subject to underwriting, meaning that amount you pay is determined by the financials of your credit report.

Regardless of your credit, our bond professionals can get you bonded at the lowest rate available to your specific needs. For an accurate estimation on how much you could pay for your bond, send a bond request.

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Mortgage Servicer Bond $100,000 Starts at $1,000 $4,000-8,000 $10,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Experience worry-free bond services when you work with SuretyBonds.com. Apply here for a free bond quote.

Why do I need this bond?

Mortgage servicer bonds exist to provide financial security to consumers in the state of Hawaii. By posting this bond, principals (money servicers) promise to abide by Chapter 454M of the Hawaii Revised Statutes and perform all services involving mortgage loans in a professional and honest manner. If it is discovered that the principal has failed to remain in compliance with all rules and regulations enforced by the bond, consumers will not be fiscally harmed as a result of fraud or malpractice.

This bond helps enforce greater accountability in terms of record-keeping that faithfully accounts for all funds involved in mortgage transactions.

Submit a bond request form and a surety expert will contact you personally to walk you through your bond application.

What’s the fine print?

Hawaii mortgage servicer bonds runs concurrently with the service license term dates. If the surety or the principal decide to terminate the bond prior to its set date of expiration, a 30 days written notice is required to be submitted and filed with the obligee announcing said cancellation. This specific bond’s obligee is the Department of Commerce and Consumer Affairs.

How to become a mortgage servicer in Hawaii

In order to legally conduct mortgage loan services in the state of Hawaii, individuals must obtain a mortgage servicer license issued through the National Mortgage Lending Service. Applicants should submit an application completed in its entirety inclusive of the following information:

  • method of doing business
  • disclosure questions
  • other trade name (if applicable)
  • physical business location
  • business plan
  • certificate of good standing
  • management chart
  • all necessary and nonrefundable fees

Click here to submit a free no-obligation bond quote request form today.

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Additional Resources

Hawaii Mortgage Servicer License Application

Chapter 454M Hawaii Revised Statutes - Mortgage Servicers

Hawaii Department of Commerce and Consumer Affairs

Hawaii Mortgage Servicers Must Now Post $100,000 Surety Bond

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