If you are engaged as a second mortgage broker in Michigan you are required under Public Act 125 of 1981 to file a Michigan Second Mortgage Broker Bond as a condition of licensure.
Bonds Express offers a Michigan Second Mortgage Broker License 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 Michigan Second Mortgage Broker License Bond holds you accountable for your business decisions.
By possessing a Michigan Second Mortgage Broker License Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.