Surety Bond
Any company seeking a license to engage in mortgage brokering or mortgage lending activities in Wyoming. Required when: Obtaining or maintaining a license under the Wyoming Residential Mortgage Practices Act. Exemptions: Exemptions include depository institutions (banks, savings and loans, credit unions), their subsid…
Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.
Amounts can vary
Selected requirement: $25,000. Other available requirements: "The initial bond amount is $25,000. For renewals, the amount is adjusted based on the total volume of Wyoming residential mortgage loans transacted during the previous calendar year: $25,000 for volume up to $3,000,000; $50,000 for volume…. Exact options still depend on the obligee, state, and underwriting.
