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The ProSure Group

Alaska Mortgage Broker Bonds

Every applicant for a Mortgage Broker and Lender License in Alaska must furnish a $75,000 surety bond and renew it annually for as long as the license remains valid. Of the three types of mortgage licenses in Alaska — Company, Branch, and Individual — the mortgage broker bond requirement applies to Company License holders, including any company or sole proprietorship that receives compensation in exchange for arranging lending sources for mortgage loan financing. The ProSure Group offers Alaska mortgage broker bonds for rates as low as 1 percent of the bond amount. Request your free, no-obligation price quote today!

Why Choose Our Surety Bond Authority?

In addition to setting the rules for surety bonds and other mortgage broker license requirements, Alaska laws also dictate which surety companies are eligible to furnish mortgage broker bonds. Per Alaska law, a surety company must be authorized to conduct business in the state, while familiarity with the NMLS system and electronic surety bonds is also helpful. The ProSure Group checks all the boxes for what you need in a surety company. Our surety experts are familiar with Alaska mortgage broker, lender, and originator licensing requirements, while our services are integrated with NMLS to streamline your application. Contact us to apply for the license surety bonds you need!

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Alaska’s surety bond requirement for a mortgage broker license is $75,000, but our surety bond authority charges only a fraction of that. The percentage that you pay is determined by your credit score and other financial and business records. Well-qualified applicants may qualify for mortgage broker bonds in Alaska for just $750 (1 percent of the bond total). 

With The ProSure Group, having bad credit or other not-so-attractive details in your financial history isn’t a deal-breaker for obtaining a surety bond. Our bad-credit program makes it so that practically everyone can be approved. And if your credit improves in the future, once you’ve had success as a mortgage broker, you can reapply for a lower rate when the bond comes up for renewal.

All mortgage broker, lender, and originator licensing activities, including the submission of surety bonds and bond renewals, are handled electronically through the Nationwide Multistate Licensing System & Registry (NMLS). Our services are integrated with the NMLS system, and we offer electronic surety bonds to streamline the application process. Our team can walk you step-by-step through the NMLS system, including explaining the Documents Upload section where the surety bonds are submitted. Bonds need to be renewed and resubmitted, along with other licensure documents, before the first day of each year to avoid the cancellation of your mortgage broker license.

Alaska mortgage broker licenses are regulated through the Division of Banking and Securities in the Department of Commerce, Community & Economic Development. Here, resources can be found for current licensees as well as those wondering how to become a mortgage broker in Alaska. For a technical read on the state’s mortgage broker laws, the statutory language is laid out in the Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010, or the Alaska SAFE Act 2010 for short. The NMLS offers more non-technical, reader-friendly information about state licensing requirements. And when you apply for an Alaska mortgage broker surety bond, our surety experts can also answer your questions.

Additionally, anyone seeking a mortgage broker and lender license in Alaska must first possess a business license. Depending on the type of business license, an additional surety bond may be required. Whether you need a business or any other professional license, feel free to ask our surety experts about your bond obligations.