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 [...]
Mortgage Apps drop to over 6 year low?.Rates also Fall
06/25/2008
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.
Everyone is familiar with the insurance industry and how it works−an individual pays a premium and the risk is transferred onto the insurance company. With surety bonds the risk remains with the principle, and the protection instead goes to the obligee.
With insurance, the insurance company expects a certain percentage to be paid out in claims. In a Suretyship, these premiums do not cover losses, but are instead paid as "service charges" for the right to use the surety company's financial backing and guarantee.
Sureties view their underwriting as a line of credit, so their focus is on prequalification and the selection process. Because of this focus, not everyone will be bonded. The truth is, in today's market it is getting more difficult to be bonded. If you fall into this situation because of poor credit, or you are a start-up company with no credit, please look at our Bad Credit Surety Bond Program. It may be just what you need to get up and running.
