Arkansas Mortgage Broker, Banker or Servicer Bond
Arkansas Mortgage Broker, Banker or Servicer Bond Information
The State of Arkansas Securities Department requires that Mortgage brokers, bankers and Servicers post surety bonds. The bond is for the benefit of third parties that may be damaged by the actions of the principal, including judgments in suits for the misappropriation of any funds paid into or deposited with the bonded principal. The bond amount or coverage required is based on prior year loan activity; $100,000 bond for up to $10,000,000 in loan volume, $150,000 for $10,000,000 to $25,000,000, or $200,000 for over $25,000,000.