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South Dakota bonds

South Dakota — Mortgage Lender - NMLS Bond

Preparing a South Dakota mortgage lender bond? Use the company funding the loans as identified in your request, with any servicing responsibilities described separately.

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Recorded state
South Dakota
Bond type
Mortgage Lender / Banker Bond
Category
Financial services

What this bond does

Secure the lender-company obligations set out in the requested South Dakota form.

Who needs it
Mortgage lending companies matching a South Dakota lender bond request.
Who it protects
The form defines the licensing recipient and protected claims; this security is not a guaranty of every funded 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.

Keep the company and filing user distinct

The person completing the application may be an officer or authorized user, but the company name should match the lender request. Keep its NMLS identifier separate from any individual's record.

Use the required sum and start date from the lender instructions. If NMLS electronic delivery applies, the surety prepares the instrument and the company completes the necessary signature and delivery tasks.

Sources

Have these ready

  1. Lender company name and NMLS ID.
  2. Funding and servicing description.
  3. Required amount, effective date and authorized user.

Questions about this bond

Is this the broker offering?

A separate South Dakota broker route is available. Use the lender request for this application.

Does a company user become the principal?

The requested legal lending entity is the applicant. An authorized person handles tasks for it rather than replacing its identity.

Where do I begin?

Purchase Now opens Propeller in a new tab. Provider review and issuance precede the required bond filing and separate licensing decision.

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