Arizona Mortgage Broker
The Arizona Mortgage Broker is a $15,000.00 bond.
This bond is available in 1 or 3 year terms.
The Mortgage Broker Bond is a license and permit surety bond required by government entities to receive a license within that jurisdiction for lending money, primarily for mortgages. It is also known as a finance lender surety bond. The bond provides security that the mortgage broker will operate according to the applicable laws. This license and permit bond helps protect the public against anyone operating outside the established laws and regulations governing mortgage brokers in that state.
Ashton Agency has a 99% approval rate and offers the bonds required for Arizona mortgage brokers at some of the most competitive rates available. Let us save you money!
Who needs the mortgage broker bond?
According to the Nationwide Mortgage Licensing System, "any person who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly negotiates, places, assists in placement, finds or offers to negotiate, place, assist in placement or find mortgage loans on Arizona property for others" must be licensed as a mortgage broker, in accordance with Section 903, Chapter 9, Title 6 of the Arizona Revised Statutes.
In order to qualify for an Arizona mortgage bond, an applicant's principal place of business must be located in Arizona.
The Bond amount is determined by the class of investors an applicant uses:
If a broker uses institutional investors only, a $10,000 bond is required. However, if a broker uses non-institutional investors, they will be required to obtain a $15,000 bond.
What is the mortgage broker bond?
The mortgage broker bond protects the party requesting the surety bond, the Obligee, against any financial losses as a result of poor financial choices, damages, unethical decisions, or a failure to adhere to state and local laws on the part of you, the Principal. By obtaining your ATV dealer bond, you are telling the Obligee that you can be trusted and that you stand by your business decisions.
What else do I need besides the bond?
All of the required documents are available for download on the Nationwide Mortgage Licensing System website here.
I have everything I need.. What now?
Brokers will submit the original signed bond form to the Arizona Department of Financial Institutions at the following address:
Arizona Department of Financial Institutions
2910 N. 44th Street, Suite 310
Phoenix, AZ 85018
The Arizona Department of Financial Institutions may be reached by phone at (602) 771-2800.
Get Bonded Within One Business Day!
Only Ashton Agency can provide you with:
- The lowest price for your dealer bond.
- Quickest Turnaround time.
- The ability to meet or beat any competitors' pricing.
Everyone needs a dealer bond, but by contacting the Ashton Agency, you can be sure you'll be getting the best price available, not to mention our stellar customer service and insider knowledge of the auto industry. We've been helping auto dealers get bonded for more than 45 years. Let us put that experience to work for you today!
Call us now at (800) 452-2663 for a free quote and we will contact you within 24 hours. We can assist you over the phone to ensure you receive your bond quickly and easily!
Don't have time to speak on the phone? Please fill out our easy online application and fax to (503) 253-1353. We can get you started right away!
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