mississippi surety bond mortgage broker

[Unregistered]

I was wondering if you do mortgage broker surety bonds in the state of MS. I will be opening up an office at the end of the year. I have to have a surety bond for 25,000.00. How long does it take to get one and how hard is it to get one. I will be applying for my license at the end of September 2005, but I think before I do that I already have to have the surety bond in place. Also the credit score issue. It is not that my credit itself is bad, but the score is low, due to student loans, etc... It just looks as though a lot is there. Is there any hope of ataining one and when do I need to fill out an app? Thanks for your help.

[Admin]

We have programs that will have you approved regardless of credit. Average turn around time is only two business days, but it is always a good idea to give yourself extra time just in case.

MS is a "higher risk state" due to the fact that the bond does not have an aggregate clause. This means that there can be multiple claims up to $25,000 each. We are currently working with a surety to create a program for mortgage brokers with lower credit scores in higher risk states. The program should be up and running by the end of July 2005, I recommend applying sometime around then, as the rates will be dramatically lower then what we can currently offer. It is a program that is exclusive to our agency.

Apply towards the end of July at: http://www.jwsuretybonds.com/mortbroker.htm

[Unregistered]

thank you so much for the info. I will see you in July.