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New Jersey bonds

New Jersey — Residential Mortgage Broker - Corporation Bond

Use the corporation route for your New Jersey residential mortgage broker bond. The corporate business is the applicant, even when an officer handles the application and signs for it.

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Recorded state
New Jersey
Bond type
Mortgage Broker Bond
Category
Financial services

What this bond does

Secure the corporation's residential mortgage brokerage duties under the New Jersey bond form.

Who needs it
Corporations with a New Jersey residential mortgage broker bond request.
Who it protects
The State of New Jersey is the named obligee for injured persons and specified obligations owed to the state.

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.

Carry the corporate identity through the form

DOBI's form asks for the corporation's name and state of incorporation, principal office and applicable license type. Its execution block identifies the corporate president and seal.

Keep the broker class selected rather than lender or correspondent lender. Have the requested sum ready; the official form does not supply a universal amount.

Sources

Have these ready

  1. Corporate legal name and state of incorporation.
  2. Principal office and residential broker license details.
  3. Requested amount, effective date and signing officer.

Questions about this bond

Should I enter the president as principal?

The corporation is the business applicant. The officer signs in the required representative capacity on the issued form.

How do I start the bond application?

Purchase Now takes you to Propeller in a new tab. Application review and issuance follow; the bond purchase does not approve the corporation's license.

Is this the individual/partnership option?

No. That is a separate offering. Use the applicant structure that matches your DOBI business request.

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