Who needs this bond
Licensed mortgage servicers in states that require an ESB at licensing or renewal. Bond amount typically scales with portfolio UPB.
Typical amount and term
Bond amount usually 100,000 to 1,000,000 dollars depending on state and serviced UPB. Premium 1 to 2 percent of bond amount for well-capitalized servicers.
What you will need
- NMLS Unique Identifier
- Serviced UPB by state
- Company financials and owner credit
How to apply
- Send NMLS ID and serviced UPB by state
- Carrier returns a per-state quote with tiered pricing
- ESB signed in NMLS by the surety