Residential Mortgage Brokers operating in the State of Illinois are required under 38 Illinois Administrative Code 1050.490 et seq. to execute an Illinois Residential Mortgage Broker Bond to ensure compliance with licensure.
Bonds Express offers an Illinois Residential Mortgage Broker 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 Illinois Residential Mortgage Broker Bond holds you accountable for your business decisions.
By possessing an Illinois Residential Mortgage Broker Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.