Who provides mortgage broker surety bonds?
To purchase a surety bond, contact your insurance broker. A list of insurance companies that underwrite Washington surety bonds in Washington is available from the Washington state office of the insurance commissioner’s web site. (4) What do I do with the surety bond once I receive it from my insurance company? You must sign the original surety bond. Then include the surety bond and the attached power-of-attorney with your license application package. (5) What happens to my mortgage broker license if my surety bond is canceled? Failure to maintain a surety bond is a violation of the act and may result in an enforcement action against you. (6) May I change surety bond companies? Yes. You may change your insurance provider at any time. Your current insurance company will issue a cancellation notice for your existing surety bond. The cancellation notice may be effective no less than thirty days following the director’s receipt of the cancellation notice. Prior to the cancellation date of
