SURETY BOND Combination Mortgage Broker, Mortgage Banker, and/or Mortgage Servicer
Any person or entity seeking licensure as a mortgage broker, mortgage banker, or mortgage servicer in Arkansas. Required when: Application for a mortgage broker, mortgage banker, or mortgage servicer license. Exemptions: Exemptions typically include federally insured depository institutions (banks, savings and loan as…
Overview
What it is.
Any person or entity seeking licensure as a mortgage broker, mortgage banker, or mortgage servicer in Arkansas. Required when: Application for a mortgage broker, mortgage banker, or mortgage servicer license. Exemptions: Exemptions typically include federally insured depository institutions (banks, savings and loan as…
Who usually needs it
Any person or entity seeking licensure as a mortgage broker, mortgage banker, or mortgage servicer in Arkansas.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateARBond amountThe bond amount is based on the aggregate amount of originated or funded mortga…Term lengthContinuousObligeeArkansas Securities DepartmentRenewalLicensees must renew their license annually between November 1 and December 31 through the NMLS. The surety bond amount must be reviewed and, if necessary, adjusted by March 31 of each year based on the prior year's loa…Bond classLicense BondCategoryFinancial ServicesBondSURETY BOND Combination Mortgage Broker, Mortgage Banker, and/or Mortgage ServicerStatutory referenceArk. Code Ann. § 23-39-505(f)JurisdictionState
