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Michigan bonds

Michigan — 1st Mortgage Broker, Lender - NMLS Bond

If your Michigan first-mortgage request names both brokering and lending, use this combined broker/lender route. Prepare the company's arranging and funding details for the bond application.

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Recorded state
Michigan
Bond type
Mortgage Broker / Lender Bond
Category
Financial services

What this bond does

Secure the first-mortgage broker and lender obligations set out in your requested bond.

Who needs it
Companies matching a Michigan first-mortgage broker/lender bond request.
Who it protects
Protection follows the form's named recipient and claim conditions, rather than insuring the company's loan assets.

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.

Identify both company roles

Describe loans arranged for another lender as well as loans the company funds. This offering keeps those two roles together; the separately listed broker/lender/servicer product also names servicing.

Keep first-mortgage instructions with the application. Use their requested amount and effective date. If electronic filing is required, surety preparation is followed by your company's NMLS execution and delivery tasks.

Sources

Have these ready

  1. Company legal name and NMLS ID.
  2. First-mortgage broker/lender request.
  3. Description of funded loans and any servicing responsibilities.

Questions about this bond

Does this title include servicing?

It names brokering and lending. Disclose servicing and match the full obligation before choosing this or the combined servicing offering.

What starts the bond application?

Purchase Now opens Propeller in a new tab. Complete the application there; purchase does not itself issue the bond, deliver it or approve a license.

Which amount should I request?

Use your first-mortgage licensing instructions. The page has one application route, not a menu of fixed bond amounts or terms.

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