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  1. bad2thebond
    bad2thebond is offline Member
    Join Date
    Oct 2008
    Posts
    81

    Increase in bond amount

    I currently have a 25k mortgage broker bond in place but want to increase it to 100k. The surety responded by saying I need a co-signer and doubled my premium. Why?
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  2. lifeisgood
    lifeisgood is offline Senior Member
    Join Date
    Sep 2008
    Posts
    109

    Premium Increase

    There could be a number of reasons that your premium has doubled: your credit may have dropped, the length of time your company has been in business, your company and/or financials may not support the requested increase for your bond. I would go back to the surety and find out exactly why.
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  3. Bond Magician
    Bond Magician is offline Senior Member
    Join Date
    Oct 2007
    Posts
    401

    Increase in Bond Amount

    Quote Originally Posted by lifeisgood
    There could be a number of reasons that your premium has doubled: your credit may have dropped, the length of time your company has been in business, your company and/or financials may not support the requested increase for your bond. I would go back to the surety and find out exactly why.
    Has the surety bond market drastically changed from years ago?
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