Hawaii Mortgage Servicer Bond
Complete Guide to Bonding for Mortgage Brokers in Hawaii
1. Start Your Application
2. Receive Your Free Quote
3. Buy Your Surety Bond
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Exclusive Bad Credit MBB Programs
How Much Does a Hawaii Mortgage Servicer License Bond Cost?
A mortgage servicer license bond in Hawaii costs between $1,000 and $10,000. The state requires mortgage servicers to hold a $100,000 surety bond. Rather than pay the bond’s full sum, however, you can buy your bond at a premium price from a surety company.
We are a respected surety company authorized to provide bonds in Hawaii. The bond premium rate will fall between 1% and 10% of the bond amount, depending on several qualifying factors. These include the applicant’s fixed and liquid assets, credit scores and professional resume.
We have served Hawaii’s bond needs for over 10 years. Bond programs are available to accommodate most applicants. In fact, over 99% of our applicants qualify for the bond they need.
A premium rate of 1% to 3% is offered to applicants with a 700 credit score or better. A rate of 3% to 5% is available to those with a 600 to 699 credit score. A score of 599 or below qualifies for a rate between 5% and 10%.
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Surety Bond Cost Based on Credit Score |
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Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
Hawaii Mortgage Servicer License Bond |
$100,000 |
$1,000 - $3,000 |
$3,000 - $5,000 |
$5,000 - $10,000 |
How to Get Hawaii Mortgage Servicer License Bond
1. Apply for Your Mortgage Servicer License Bond Online
We happily provide our valued customers with a quick and easy application process. It only takes a few minutes to fill out the online application for your mortgage servicer license bond.
To meet the state’s requirement, Julie needed a mortgage servicer bond to do business in Hawaii. She took advantage of our fast, straightforward process to get an instant quote. Not long after paying the premium, Julie had the bond necessary to submit the state licensing application.
2. Review Your Bond Quote
We provide bond quotes to our customers immediately after receiving an application. In the event an application is complex and requires additional review, we deliver a no-obligation bond quote in 48 hours or less. Our bond experts are available to review your quote with you if you have questions.
3. Pay Your Bond Premium Online
To complete your bond purchase, pay your premium online. After doing so, you will receive your mortgage servicer license bond via email. If requested, we can send your bond in the mail as well.
Do you have questions or need assistance with your bond purchase? Our bond experts are happy to support you. Please contact us or call us at (877) 514-5146.
Start your surety bond application. 100% money-back guarantee!
Mortgage Servicer License Bond Requirements in Hawaii
In Hawaii, a mortgage servicer license is required by anyone who processes, receives or collects residential mortgage loan payments. The Hawaii Division of Financial Institutions is the authority for mortgage servicer licensing requirements and enforcement.
However, license applications are processed by the NMLS, or the Nationwide Multistate Licensing System. One of the requirements to obtain or renew a mortgage servicer license is a $100,000 surety bond. The NMLS only accepts electronic surety bonds to meet this requirement.
The bond obligee is the Commissioner of Financial Institutions. This is a continuous bond that remains in full force until canceled. The surety company can cancel the bond by providing the principal with a 30-day written notice.
Because the bond is a licensing requirement, it must be maintained by the principal at all times. To maintain the bond, the premium must be paid annually. We will be in touch with renewal payment instructions prior to the due date each year.
Our bond experts can tell you more about how to get a mortgage broker license in Hawaii. Additional information is also available by calling the Hawaii Division of Financial Institutions at (808) 586-2820.
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What Our Clients Have To Say?
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
