Idaho Mortgage Broker and Lender Bonds
HB 169: License Bond—Mortgage Brokers and Lenders
This will repeal the existing bond requirements for mortgage lender and brokers. The previous law required a surety bond to be posted in the amount of $25,000 plus another $10,000 per branch. The State now has a mortgage recovery fund under the new law instead of a surety bond. This law became effective July 1, 2009.
The following two tabs change content below.
Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.
Latest posts by Victor J. Lance, President/Owner (see all)
- How to Get a Mortgage Broker License in Florida [2021 Guide] - February 19, 2021
- How Much Does a Florida Liquor License Cost? [2021 Guide] - February 17, 2021
- How to Get an Alabama Dealer License [2021 Guide] - January 11, 2021
