All posts by SEO Team

May 5, 2021

How to Become a Mortgage Broker in Virginia

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Virginia mortgage broker bond needs. Learn how to become a mortgage broker in Virginia, below. What Mortgage Broker Licenses Are Issued in Virginia? The Commonwealth of Virginia requires companies and sole proprietors to obtain a mortgage broker license before they can directly or indirectly negotiate, place, or find mortgage loans for others or offer to do so. Mortgage brokers who originate or make mortgage loans must also obtain a lender license. Individuals working for such companies who take residential mortgage applications or offer or negotiate the terms of residential mortgage loans must be licensed as mortgage loan originators. Our focus here is solely on mortgage broker licenses. What Are the Steps in the Licensing Process? While the Virginia Bureau of Financial Institutions (BFI) issues mortgage broker licenses, applications for licensure are submitted through and processed by the Nationwide Mortgage Licensing System (NMLS). The NMLS website lists the requirements and procedures for getting licensed as a Virginia mortgage broker. Before you start working on...

Read more

By SEO Team

0

May 5, 2021

How to Become a Mortgage Broker in Texas

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Texas mortgage broker bond needs. Learn how to become a mortgage broker in Texas, below. What Mortgage Broker Licenses Are Issued in Texas? The Texas Department of Savings and Mortgage Lending issues licenses for most mortgage-related professions, including mortgage brokers. Under Texas law, a mortgage broker is defined as “a person who receives an application from a prospective borrower for the purposes of making a mortgage loan from that person’s own funds or from the funds of another person.” Mortgage broker license applications are submitted and processed through the Nationwide Mortgage Licensing System, or NMLS. What Are the Steps in the Licensing Process? There are several eligibility and pre-licensing educational requirements for obtaining a mortgage broker license in Texas. These must all be met before applying for licensure as a mortgage broker. You may also have to gather certain documents that will need to be submitted in support of your license application. The licensing process involves the following steps: Applying for an NMLS...

Read more

By SEO Team

0

May 5, 2021

How to Become a Mortgage Broker in Tennessee

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Tennessee mortgage broker bond needs. Learn how to become a mortgage broker in Tennessee, below. What Mortgage Broker Licenses Are Issued in Tennessee? The Tennessee Department of Financial Institutions (DFI) issues mortgage broker licenses for companies, branch offices, and individuals. The most common license is a mortgage license, which is issued to mortgage brokers, mortgage lenders, and mortgage servicers. In fact, it’s required for professionals in all three categories. What Are the Steps in the Licensing Process? Although it’s DFI that issues mortgage licenses, applications are submitted and processed through the Nationwide Mortgage Licensing System (NMLS).  The NMLS website provides a checklist of eligibility criteria, application requirements, and instructions for the online application process. Once you’ve gathered all the necessary information to be submitted with your application, you’ll need to establish an NMLS account and obtain an NMLS number. You’ll then sign into NMLS and complete the appropriate sections of the online application depending on whether you’re seeking a company, branch, or individual...

Read more

By SEO Team

0

March 24, 2021

How to Become a Mortgage Broker in Oregon

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Oregon mortgage broker bond needs. Learn how to become a mortgage broker in Oregon, below. What Mortgage Broker Licenses Are Issued in Oregon? Oregon defines mortgage brokers as “those who make or negotiate mortgage loans.” Mortgage brokers are licensed by the Division of Finance & Corporate Securities of the Oregon Department of Consumer & Business Services (DCBS). Mortgage broker license applications are processed through the Nationwide Mortgage Licensing System, or NMLS. What Are the Steps in the Licensing Process? Certain financial, educational, and experiential requirements must be met before applying for licensure as a mortgage broker in Oregon. Once those are met, the licensing process for a company offering mortgage brokerage services involves: Applying for an NMLS account and ID number. Submitting a license application as a company or sole proprietor. Uploading a completed Notice of Client’s Trust account or completed Affidavit and Undertaking – No Clients’ Trust Account, depending on whether or not you will be accepting refundable funds from clients prior...

Read more

By SEO Team

0

March 24, 2021

How to Become a Mortgage Broker in Indiana

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Indiana mortgage broker bond needs. Learn how to become a mortgage broker in Indiana, below. What Mortgage Broker Licenses Are Issued in Indiana? Indiana issues several different types of mortgage broker licenses, the most common of which are: The mortgage lending license is issued by the Indiana Department of Financial Institutions (DFI), which allows licensees to originate or broker consumer mortgage loans. The loan broker license is issued by the Indiana Secretary of State (SOS), which permits the brokering of residential mortgage loans from third parties. Applications for both of these licenses are processed through the Nationwide Mortgage Licensing System, or NMLS.  However, some supporting documentation must be sent directly to DFI or SOS. What Are the Steps in the Licensing Process? Neither a mortgage lending license nor loan broker license requires applicants to meet any pre-licensing educational or examination requirements. The major steps in the licensing process are: Apply for an NMLS account and ID number. Submit the appropriate license application (as...

Read more

By SEO Team

0

March 24, 2021

How to Become a Mortgage Broker in California

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your California mortgage broker bond needs. Learn how to become a mortgage broker in California, below. What Mortgage Broker Licenses Are Issued in California? California issues three different types of mortgage broker licenses, all of which involve different licensing requirements and application processes: The California finance lender (CFL) license, issued by the California Department of Business Oversight (DBO), allows licensees to make or broker consumer and commercial real estate loans. However, loans may only be brokered with other lenders holding a CFL license. The residential mortgage lender (RML) license is also issued by DBO. Licensees can make and service mortgage loans but may only broker loans if they’re also licensed as a mortgage loan originator. The real estate broker license is issued by the Bureau of Real Estate (BRE). It allows licensees to act in a dual capacity as both real estate brokers and mortgage brokers. This article focus on the CFL license for residential mortgage brokers, which is processed through the Nationwide Mortgage...

Read more

By SEO Team

0

March 24, 2021

North Carolina Bonded Title Process

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your North Carolina title bond needs. Learn more about the North Carolina bonded title process, below. What Is a Bonded Title? A bonded title looks like a standard title except for carrying a “BONDED” brand. It will allow you to do the same things you could do with a standard title—insure, register, sell, or donate a vehicle.  A North Carolina bonded title is backed by a surety bond that guarantees payment of damages to a prior owner or lienholder. It also indemnifies the state if it turns out that DMV should not have issued you a bonded title. Who Is Eligible for a Bonded Title? To find out if you’re eligible for a North Carolina bonded title, explain your circumstances to your local DMV. For example, perhaps you bought a vehicle in a private sale but did not receive a title, received a defective title, or the title was lost or stolen before you could register the vehicle in your name. If the vehicle...

Read more

By SEO Team

0

March 24, 2021

California Bonded Title Process

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your California title bond needs. Learn more about the California bonded title process, below. What Is a California Bonded Title? A California bonded title is your best solution if you bought a vehicle in a private sale and the seller: Did not give you a title certificate Gave you a defective (altered, improperly assigned, or illegible) title Gave you a valid title, but it was lost or stolen before the vehicle was ever registered in your name A California bonded title will allow you to do the same things you could do with a standard title—insure, register, sell, or otherwise transfer ownership of the vehicle. A bonded title is backed by a three-year surety bond that provides a way to compensate any party who can prove both ownership of the vehicle or a lien against it and a financial loss resulting from you having been issued a bonded title. It also protects the state of California for having issued you the bonded title. Who...

Read more

By SEO Team

0

March 24, 2021

Iowa Bonded Title Process

Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Iowa title bond needs. Learn more about the Iowa bonded title process, below. What Is a Bonded Title? An Iowa bonded title allows you to insure, register, or transfer ownership of a vehicle you own but don’t have a valid certificate of title for. You must purchase one before you will be issued a bonded title. The Iowa title bond is your guarantee that you are the vehicle’s rightful owner. It indemnifies the Iowa Department of Transportation against liability if it’s determined during the time that the bond is in force that you are not the vehicle’s rightful owner and should not have been issued a bonded title. Additionally, the bond ensures that the vehicle’s true owner or lienholder will be compensated for any financial loss resulting from you having been issued a bonded title. Who Is Eligible for a Bonded Title? Most people seek a bonded title because they were not given a valid, properly assigned certificate of title at the time...

Read more

By SEO Team

0