1. North Carolina Mortgage Servicers

    November 14, 2008 by admin

    Recently House Bill 2463 (HB 2463) was enacted that subjects Mortgage Servicers to the sale licensing/bonding requirements of Mortgage Lenders. The current Bonding requirement of lenders (and now Servicers) is $150,000.

    Category: Homepage, Mortgage Banker, Mortgage Broker Surety BondComments (0)

  2. ALERT: Site Updates Today

    November 8, 2008 by admin

    Please pardon any inconveniences you may experience while using our site today (11/8/08).  Bryant Surety Bonds is currently updating our site to make it more informational and user friendly.  We expect any site oddities to last only a few hours.

    Category: Homepage, Operating AnnouncementComments (0)

  3. How Do I Renew My Surety Bond?

    November 6, 2008 by admin

    A lot of people contact us during the renewal period with several questions.  Often times there is a little confusion over the process, and since these bonds are vital to keeping your business running, most people want to feel comfortable with the process, and know there will be no lapse.

    we will give some information on Commercial surety bonds, in the coming days, look for information on both court and contract bonds.

    Most Commercial surety bonds have a one year term (check your invoice to see what the term period is for your particular bond).  You should receive an renewal invoice from your agent about 90 days prior to the expiration.  At Bryant Surety Bonds, we will mail you this invoice, as well as fax/email a copy using the information we have on file.

    number one question is, why 90 days prior?  The reason for this comes from the legal language on your particular bond form.  Bond forms typically have a 30/60/90 day cancellation clause.  Meaning if you are not going to renew your bond, the surety must notify the obligee, 30, 60, or 90 days prior to it expiring.

    Should you not pay your bonds premium prior to the renewal due date, a cancellation notice will be sent to the obligee.  After this has occurred it may still be possible to reinstate your bond, but a reinstatement fee will apply.

    The second most asked question is, “when will I receive my new bond�?  In most cases (assuming the bond form has not changed since the original bond was issued) you will not be receiving a new bond; instead your current bond will be continued.

     

    Category: UncategorizedComments (0)

  4. Alaska Mortgage Broker, Mortgage Bankers: New Regulation

    November 4, 2008 by admin

    New legislation went in to effect putting Mortgage Brokers and Lender in the state of Alaska under the regulation of the Alaska Division of Banking and Securities.  According to the legislation all new applicants on or after July 1, 2008 must comply with the new regulations.  All Mortgage broker and bankers must be in compliance by March 1, 2009.

    Among the new rules are a mandatory background check (fingerprints); monitoring of all company applications, records, and daily practices; and all Mortgage Originators will be required to pass an examination as well as completing 24 hours of continuing education every 24 months.

    Also, a $25,000 surety bond will be required.  Alaska is not a “Brick and Mortar” State, so no physical office is required. 

     

    Category: Homepage, License and Permit, Mortgage Banker, Mortgage Broker Surety BondComments (0)

  5. Bryant Surety Site Changes Coming

    October 22, 2008 by admin

    Over the next two weeks, the Bryant Surety Bonds website will be introducing a few changes.  The first change that will be made is to the site navigation and informational layout.  Our goal is to make our site as easy to use for our clients as possible.  Surety bonds are a new thing to many of our clients, we want to make sure that all the information they seek about bonds is available to them through our site, and is a able to be found in a easy manner.

     

    After this navigation update, we will be updating our state by state guides for Mortgage Broker Bonds, and Auto Dealer Bonds.  Please check back for these updates and more information.

    Category: General Surety Information, Homepage, MVD, Mortgage Banker, Mortgage Broker Surety Bond, Operating AnnouncementComments (0)

  6. Whats the Difference Between Bonded and Insured

    October 21, 2008 by admin

    A lot of people we talk to call in saying they want to be bonded.  The story is typically the same, they are opening a company, and all of their competitors advertise that they are bonded, so as to not be at a disadvantage, they want to be bonded as well.  The story ends with the caller asking, ‘What do I have to do?”

    Typically the caller is a little confused on what a surety bond is, they simple googled “bonded”, and bunch of bond agencies appear.  A surety bond is a three party agreement that guarantees something, in this system the obligee is requiring the principal to obtain a surety bond.  Typically the obligee will provide a bond form that should be used.  A surety bond guarantees services such as construction or electrical contracting and licensing required by the government.  In these cases the bond is guaranteeing that these services will be completed and done so in a proper manner.  Bonds are specific to job license or project.

    E&O insurance is very similar to a surety bond, but provides more blanket coverage.  Errors and Omissions provide financial protection performed or not performed.

     

    Category: General Surety Information, HomepageComments (0)

  7. Holiday Schedule: July 4th

    June 30, 2008 by admin

    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 to quickly responding to your needs when we return.

    Category: Bad Credit, Contract Bonds, Contractor License, Court, General Surety Information, Homepage, ICC, License and Permit, MVD, Mortgage Banker, Mortgage Broker Surety Bond, Operating Announcement, Sales Tax, Seller of Travel, Subdivision, Telemarketing, UncategorizedComments (0)

  8. Mortgage Apps drop to over 6 year low….Rates also Fall

    June 25, 2008 by admin

     Mortgage applications for the week ended June 20 dropped 9.3%, the lowest since December 28, 2001.

    Borrowing for a 30 year fixed-rate mortgage averaged 6.39% in last week, down 0.18 percentage points from the previous week, this is also below the average 6.60% of a year ago.

    Category: Homepage, Mortgage Banker, Mortgage Broker Surety BondComments (0)

  9. Holiday Schedule: Memorial Day Weekend

    May 23, 2008 by admin

    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 to apply, our online application can still offer instant quotes while we are away.  If you are search of information, take a look at the surety bonds we offer, or our surety bond FAQ.

    Category: Bad Credit, General Surety Information, Homepage, Operating AnnouncementComments Off

  10. Rates on 30 years mortgages remain above 6%

    May 8, 2008 by admin

    Though down slightly from a week ago, mortgage rates remained above 6% for the 3rd consecutive week according to Freddie Mac.  The Mortgage giant reported that 30 year mortgages average 6.05% this week, down .01% from last.

    Category: Homepage, Mortgage Banker, Mortgage Broker Surety BondComments (0)

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