Mortgage brokers in the State of Missouri must be licensed and provide a Missouri residential mortgage loan broker bond. The Missouri Division of Finance requires a surety bond in the amount of $50,000 initially, to be increased pursuant to the mortgage loan broker surety bond schedule. Under the provisions of sections 443.701 – 443.893 RSMo Supp. (2009), the obligation is that the broker and his or her agents will conform to and abide by the provisions of the statute and will honestly and faithfully apply all funds received and, perform all obligations and undertakings under the same, and will pay to the State and to any person all money that becomes due and owing to third parties. National leader in surety Surety One, Inc., can accommodate both the surety and fidelity bond needs of mortgage professionals in ALL fifty states, Puerto Rico and the U.S. Virgin Islands. Visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email us at Underwriting@SuretyOne.com for a Missouri residential mortgage loan broker bond application.
