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Arizona bonds

Arizona — Mortgage Banker Bond

Prepare your Arizona mortgage banker bond for the company that funds the loans. Use the mortgage banker class in your DIFI request rather than the separately listed broker or commercial banker class.

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Recorded state
Arizona
Bond type
Mortgage Lender / Banker Bond
Category
Financial services

What this bond does

Secure the mortgage banker's duties under the Arizona bond form requested for its license.

Who needs it
Companies applying for an Arizona mortgage banker bond.
Who it protects
The form's named recipient and conditions define the protection; it does not guarantee repayment of the company's loans.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Prepare the funding company's information

DIFI directs mortgage banker license applications through NMLS and lists this class separately from mortgage brokers and commercial bankers. Keep the company's legal name consistent across both applications.

Use the requested sum and effective date from the banker instructions. Review bond execution and delivery separately after the provider issues the document.

Sources

Have these ready

  1. Funding company name, office and NMLS ID.
  2. Mortgage banker checklist or DIFI request.
  3. Required amount, start date and signing authority.

Questions about this bond

Is mortgage banker a bank charter?

This page concerns the mortgage banker bond named in your request. Purchasing it does not grant a charter or any lending authority.

Where does Purchase Now lead?

To Propeller in a new tab for the bond application. Provider approval, issuance, filing and license approval are separate events.

Can I use a broker's bond amount?

Use the amount for your mortgage banker class. The presence of a similar broker offering does not establish the same security requirement.

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