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Old 11-04-2008, 03:55 PM
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Join Date: Oct 2008
Posts: 81
Default 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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Old 11-05-2008, 09:29 AM
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Join Date: Sep 2008
Posts: 109
Default 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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Old 11-05-2008, 09:45 AM
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Default 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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