Alaska Mortgage Broker or Lender Bond
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How much does the Alaska mortgage broker or lender bond cost?
Alaska mortgage broker or lender bond costs start at $562.50 annually. Your personal bond cost will be provided after a quick application review.
How do I get a mortgage broker or lender bond in Alaska?
You can apply for your Alaska mortgage broker or lender bond online 24/7. Simply provide the following information for Department of Commerce, Community, and Economic Development filing approval.
- licensee name
- NMLS ID number
- license type (lender or broker)
Once your order has been processed, SuretyBonds.com will file your Alaska surety bond directly with the NMLS.
How fast can I get a mortgage broker or lender bond?
Our industry-leading technology and responsive customer service team allow us to file your official Alaska mortgage broker or lender bond directly with the NMLS faster than any other surety provider. Orders placed by 4 PM CST Monday-Friday are typically processed and filed same-day.
If you have questions about Alaska mortgage broker or lender bonds or your application, call 1(800)308-4358 to speak with a friendly surety expert. We're here to guide you through the mortgage bond process so you can get back to running your business.
What is the Alaska mortgage broker or lender bond?
Alaska Statutes 06.60.045 establishes a surety bond requirement for mortgage license applicants. Alaska statutes specify the bond is to be used by the state or individuals to recover claims for relief and that a mortgage license that covers more than one location does not need more than one bond. The state's official form is titled “SURETY BOND: Alaska Mortgage Licensee or Registrant” but is more commonly known as the “Alaska mortgage broker or lender bond.” This form specifically requires the licensee and any employee or agent representing them conform to and abide by the Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010 as well as all other state rules and regulations.
How do Alaska mortgage brokers and lenders file your bond?
SuretyBonds.com will electronically file your bond with the Nationwide Multistate Licensing System (NMLS). As the surety experts, we will work with you and the NMLS to be sure your bond is filed quickly and accurately to meet all Alaska state licensing requirements. The surety bond form copy you receive by email is for your reference only and won't need to be filed with the NMLS.
Who regulates licensing for mortgage brokers and lenders?
The Alaska Department of Commerce, Community, and Economic Development Division of Banking and Securities enforces licensing for mortgage brokers and lenders in the state, including the surety bond requirement. Although Alaska Statutes do not specify a required surety bond amount, mortgage broker and lender licensees must currently maintain a $75,000 surety bond amount with the state for the duration of their active license. You can contact the Division by calling 1(888)925-2521 or emailing [email protected].
The Alaska DCCED requires this bond for state mortgage broker or lender licensing. If you work as a mortgage professional in other states, we also offer mortgage license bonds nationwide.
How do I update or change my mortgage broker or lender bond form?
If the Department of Commerce, Community, and Economic Development requires your NMLS bond to be updated for any reason, contact your surety provider. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common change requested is updating your name to match your existing NMLS ID.
How can you submit or renew a mortgage broker bond in Alaska?
You must renew your mortgage broker bond before its current term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be provided keep your bond active for your next license term.
How do mortgage brokers and lenders apply for a license in Alaska?
Complete the steps below to apply for your Alaska mortgage broker license or Alaska mortgage lender license through the Nationwide Multistate Licensing System NMLS website.
- Review the Alaska Broker/Lender License Application Checklist (Company).
- Pay all required fees. ($75 investigative fee, $100 NMLS fee, $500 application fee, $1,000 license fee)
- Purchase and file your $75,000 Alaska surety bond.
- Provide all information and documents required for your online NMLS application.
If you're already licensed and need to register an additional branch, complete the Alaska Mortgage Broker/Lender Branch Registration New Application Checklist (Branch).
Alaska statutes specific that a mortgage license can cover more than one mortgage licensee location. Individuals who work as both a mortgage lender and a mortgage broker only need one mortgage license.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
