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Georgia bonds

Georgia — Mortgage Broker - NMLS Bond

Prepare the Georgia mortgage broker bond for the business arranging loans or closing with funding supplied by others. Georgia's broker definition is broader than simply introducing a borrower to a lender.

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Recorded state
Georgia
Bond type
Mortgage Broker Bond
Category
Financial services

What this bond does

Secure the brokerage duties stated in the requested Georgia licensing bond.

Who needs it
Businesses matching a Georgia mortgage broker company bond request.
Who it protects
The requested form names the licensing recipient and protected claims; the bond does not insure every arranged loan.

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.

Describe where funding comes from

Georgia includes soliciting, processing, placing and negotiating loans for others within brokering, along with closing in the broker's name using others' funds. Describe the actual operation when applying.

The Department manages broker licenses through NMLS. Use the broker checklist for the required sum and bond filing method; the license application alone does not deliver the bond.

Sources

Have these ready

  1. Broker company name and NMLS ID.
  2. Description of arranging and funding arrangements.
  3. Broker bond request, sum and effective date.

Questions about this bond

Does closing in my company's name always make this a lender request?

Not by that fact alone. Georgia's definition includes certain broker closings with others' funding. Match the actual licensing instructions.

Where do I begin?

Purchase Now opens Propeller in a new tab. Application review and issuance come before execution and required delivery.

Does buying the bond authorize brokerage?

No. The Department's license approval remains separate from the bond application.

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