Ashton Agency has a 99% approval rate and offers the $25,000 bond required to become licensed as a California mortgage broker or finance lender at some of the most competitive rates available. Let us save you money!
Who needs the mortgage broker or finance lender bond?
All persons applying for a California Mortgage Broker/Finance Lender license are required to post and maintain a surety bond in the amount of $25,000, as outlined by California Financial Code Section 22112. A finance lender is defined as any person engaged in the business of making consumer or commercial loans. A broker includes any person engaged in the business of negotiating or performing any act as a broker in connection with loans made by a finance lender. A broker licensed under California Finance Lenders Law may only broker loans to licensed finance lenders.
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 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?
Please consult the California Department of Business Oversight or the Nationwide Mortgage Licensing System for more information.
I have everything I need.. What now?
Mortgage brokers and lenders will submit the original signed and notarized bond form to the following address:
State of California
Department of Business Overnsight
320 West 4th Street, Suite 750
Los Angeles, CA 90013
The California Department of Business Oversight may be reached by phone at (866) 275-2677.
Get Bonded Within One Business Day!
Only Ashton Agency can provide you with:
Many companies offer the California mortgage broker and finance lender 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 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!