The Florida Office of Financial Regulation requires that those who are engaged as Correspondent Mortgage Lenders execute a Florida Mortgage Correspondent Bond in the amount of $10,000 to ensure compliance with the Mortgage Broker and Mortgage Lending Act, Chapter 494, of the Florida Statutes.
Bonds Express offers a Florida Mortgage Correspondent Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Florida Mortgage Correspondent Bond holds you accountable for your business decisions.
By possessing a Florida Mortgage Correspondent Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.