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Obtain an Illinois mortgage broker bond. You have to get a surety bond if you want to obtain a mortgage license in Illinois. It works as a Illinois Surety Bonds | NNA Surety Bonds The surety bond amount will be set for each licensed mortgage broker and mortgage banker and registered exempt company and adjusted as necessary annually by
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The commercial surety class is made up of simple, transactional bonds that do NOT contain contract performance guarantees. Why Paying Off Your Mortgage Might Be Smart Discover the truth behind mortgage interest deductions and why paying off your Most Illinois surety bonds have a fixed liability amount, while some vary. For example, residential mortgage brokers may need a license bond.