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Thread: Renewal Costs

  1. Join Date
    Sep 2008
    Posts
    106

    Renewal Costs

    I am a small independent mortgage broker in Boise Idaho and I don't believe I have to tell you it's been a rough year for me and this industry in general. I have had a Mortgage Broker bond through your company for three years with the same rate. I don't think I will be renewing this year and wait for the economy to stabilize. Will I be able to eventually renew my policy with you under the same premium when that time arrives or will there be different criteria to apply and higher rates?

  2. Join Date
    Sep 2008
    Posts
    110

    Unfortunately I can not promise you will have the same rate that you have had for the past few years. The Mortgage Industry as a whole has been hit hard by the economy crisis. Surety Companies are taking a second look at Mortgage Broker, Banker, and Lender Bonds. Some companies have pulled out completely of Mortgage Programs.
    I recommend when you are ready to re-apply for the bond you follow the link provided to see what we can do for you.
    JW Surety Bonds - Commercial Bond Applications

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