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  1. Bob Stern Guest

    Maryland Mortgage Broker Bond

    I am need to apply for a Maryland mortgage broker bond but I am not sure what bond amount I need. I am told that the minimum is $25,000, should I do more?

  2. Join Date
    Jan 2005
    Posts
    113

    Bob,

    This is a common question, the answer is simple...

    Some states have a set amount for the bond required, other states such as Maryland require different amounts based on your loan activity.

    Specifically the Maryland mortgage broker bond amounts go as follows:

    Loan Activity Amount - Required Bond Amount:
    $3 million or less = $25,000
    $3 million to $10 million = $50,000
    Over $10 million = $75,000

    You will want to get the required amount, no more no less otherwise the state will send back you application for your license.

    You can obtain a quote for this bond online at: http://www.jwsuretybonds.com/mortgage_quote.htm
    Apply for Surety Bonds

  3. Join Date
    Mar 2010
    Posts
    1

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