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 [...]
Mortgage brokers in the state of Utah have been regulated since April 23, 1990. Though the restrictiveness of the legislation was extremely relaxed, updates in recent years have made this a fairly restrictive state. Utah's Division of Real Estate regulates mortgage lenders as per the Utah Residential Mortgage Practices Act.
A PLM, or "Principal Lending Manager", must fulfill the experience and education requirements of the state. The PLM must be designated by the applicant. Though there are no net worth requirements, and an in-state office is not requires, all employees must engage in brokering activities must obtain a mortgage officer license.
The PLM Must have 5 years experience lending in the state of Utah, as well as passing the Utah law portion of the PLM exam. In place of 5 years experience, the PLM May have 3 years Utah lending experience along with completing 40 hours of pre-licensing education and passing the PLM Exam. 14 hours of continuing education is required for PLM during the licensure period.
An applicant for an officer license in the state of Utah must be at least 18 year of age, and have complete 20 hours of pre-licensing education as well as having passed the examination.
Coming Soon
Applicants with a low credit score, or public records (Bankruptcy, Liens, Collection, or Civil Judgments) will find a difficult time getting bonded. Bryant Surety Bonds, Inc. offers a Bad Credit Surety Bond Program that is specially tailored to your needs and can get you approved. This program is available for high risk mortgage brokers.
