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Washington bonds

Washington — Mortgage Broker (NMLS) Bond

Use this Washington mortgage broker bond route for the brokerage in your request. Prepare the company arranging loans, not a separate consumer-loan or individual originator applicant.

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Recorded state
Washington
Bond type
Mortgage Broker Bond
Category
Financial services

What this bond does

Provide security for the brokerage duties in the requested Washington form.

Who needs it
Washington mortgage broker businesses preparing company security.
Who it protects
The broker form identifies the licensing recipient and qualifying claims. It does not insure every transaction the company arranges.

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 brokerage program clear

Describe arranging activities and any borrower funds handled by the brokerage. Disclose lending separately instead of transferring a consumer-loan program's bond requirement into the broker request.

Use the current broker checklist for the sum and delivery. If an NMLS ESB is required, surety preparation is followed by company signature and regulator-delivery tasks.

Sources

Have these ready

  1. Broker company name and NMLS ID.
  2. Washington broker request and fund-handling activities.
  3. Required amount, recipient and effective date.

Questions about this bond

Is a consumer-loan bond interchangeable?

Use the exact mortgage broker instrument requested. Similar financial-services operations can have different obligations.

Is the company's NMLS ID the same as a loan officer's?

Use the requested company record and keep each individual's licensing information separately identified.

How do I start?

Purchase Now opens Propeller in a new tab. Issuance, required filing and licensing approval are separate from the application start.

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