Specifications by state

[Numbers]

Does each state have different specifications for mortgage broker bonds? Or are they generally the same?

[Bond Magician]

Well, each state requires a different bond amount for each different type of surety bond. Also, each state has its own bond form that includes certain bond language - and some states require the bond to expire on a certain term (For example - the exipration date is required to be December 31st) instead of an annual term without a specific expiration date.
Please verify with the obligee as to whether or not there is a specific expiration date, etc. Also, you will need to provide us with the most recent, updated bond form for us to issue the bond on in order to avoid the bond being rejected.

Hope this helps.