Nebraska Mortgage Banker Bond
Nebraska Mortgage Banker Bond Information
A Mortgage Banker Bond is a type of surety bond required for those who have applied to the Director of the Nebraska Department of Banking and Finance for a license or registration to transact business as a Mortgage Banker in the state pursuant to the Residential Mortgage Licensing Act, Nebraska Revised Statutes. This surety bond ensures strict compliance with the rules, regulations, and laws established by the State of Nebraska and indemnifies any financial loss or damage suffered by the State of Nebraska or any person who is harmed in dealing with the mortgage banker as a result of violations or illegal actions on the part of the bonded entity. The surety bond is written on the Residential Mortgage Licensing Act Bond Form and the aggregate liability is $100,000.