Holiday Schedule: July 4th
06/30/2008
Bryant Surety Bonds will be closed on Thursday, July 3rd for Independence Day Weekend; we will return on Monday, July 5th. We hope you all have a safe and pleasant holiday. While we are closed, please explore our website for information on surety bonds, and when you are ready, use our free online application. We look forward [...]
Holiday Schedule: Memorial Day Weekend
05/23/2008
Following the lead of bonding companies, Bryant Surety Bonds will be closing at noon (Eastern Time) on Friday, May 23rd. We will reopen on Tuesday, May 27th. We hope that you all have a fun, and safe, holiday weekend. We look forward to helping you with all your surety bond needs when we return.
For those wishing [...]
New Home Sales Drop, State Guide Update For Mortgage Brokers
04/24/2008
More bad news for mortgage brokers and bankers as The Commerce Department reported today that new homes sales dropped 8.5% last month, representing the lowest level (slowest pace) in over 16 years. On top of this came news that the median price of new home sales dropped by the largest amount in almost 4 decades, the [...]
Existing Home Sales Fall 2% in March, Pricing also Falls. Mortgage Broker Guide Update.
04/22/2008
The median price homes sold in March dropped to $200,700, a decline of 7.7% from the median price in March 2007. The National Association of Realtors revealed today that sales of existing single-family homes (including condos) also dropped 2%.
Bryant Surety Bonds also wants to make mortgage brokers aware that additional states have been added to [...]
Due to the bonding language on the Arkansas bond form, and the fact that the state has proper screening requirements in place that lessens the chance of claims, AK mortgage brokers will have a relatively easy time receiving the required $50,000 bond. In fact most bonding companies write this bond allowing for great competition, and in turn a great rate for you.
One group who may still have trouble being bonded are those with poor credit, or no credit at all; as not all bonding companies are comfortable with the risk this group represents. Through well-laid relationships, Bryant Surety Bonds is able to place bonds bad credit Arkansas mortgage broker bonds.
Arkansas requires a surety bond of $50,000 for all mortgage broker companies operating within the state. This bond amount is above the national average for mortgage broker bonds, and because of this the sureties check over the applications a little closer. As a rule of thumb, most companies will only approve applicants with a credit score of 670+, solid business financials (or a resume rich in industry experience), and home ownership. Bryant Surety Bonds can approve applicant´s regardless of credit through our exclusive mortgage broker bond program. Better still, this program gives us unbeatable rates for those who qualify for the standard market.
As stated earlier, the bond form for Arkansas uses standard language (such as aggregate and cancellation language) that bond companies look for, and are comfortable with. Because of this declination would only occur due to the applicant´s history and no because of the requirement of the bond itself.
In addition to a surety bond, here are additional information/requirements in order to operate as a mortgage broker in the state if Arkansas:
