Bad Credit Mortgage Broker Bonds
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.
California Licensure Requirements*
Applicant Requirements:
- Age: 18
- State Residency: A non resident is only eligible for licensing in California if the applicants resident state permits residents of California to obtain a real estate license in their state
- Experience: Must have two years experience as a licensed Real Estate Salesman.
- Education: Applicant must complete a required pre-licensing course at a accredited institution.
- Continuing Education: 45 hours of continuing education during a four year licensing period.
- Examination: The person designated on the license must pass an examination
- Fitness For Licensure: Applicant, officers and owners with over 10% ownership must demonstrate honesty and truthfulness.
- Net Worth: No Requirement
- Surety Bond: No Requirement
- Background Check: Fingerprints are required.
- Managing Principal: A corporation may be licensed as a real estate broker through one (or more) of its officers that have qualified for licensure through education and examination. The applicant applying for a designated broker-officer license must hold an officer title in the business entity
State Licensing Fees:
- Initial Application: $165-225 Licensing Fee
- Branch Application: No Requirement
- Renewal Application: $165-225 every four years
Employee Requirements:
- Age: 18
- State Residency: A non-resident will only qualify for licensing in California if their resident state permits residents of California to become licensed.
- Experience: No Requirement
- Education: Must complete pre-licensing education at an accredited institution.
- Continuing Education: 45 hours of continuing education in required through the four year licensing period.
- Examination: Must pass an examination
- Fitness For Licensure: No Requirement
- Net Worth: No Requirement
- Surety Bond: No Requirement
- Background Check: Fingerprints are required.
- Managing Principal: No Requirement
- Exemptions: No Requirement
- Licensing Fee: $120-170
- Renewal Fee: $120-170
Branch Offices:
- In State Requirements: A License is required for in-state offices.
- Licensure Requirements: A license is required for each branch office.
- Branch Manager: No Requirement
Exemptions:
- Entities: Regulated financials institutions, insurance companies, lawyers, securities broker-dealers, and consumer loan companies.
- Safe Harbor: None.
*Information for state licensing is provided as a guide, always verify with the state that the information is correct.
How to apply:
1.) Visit the commercial application page.
2.) Complete our online application.
