Surety Bonds Illinois:

Residential Mortgage License

The Residential Mortgage License Surety Bond is required by the state of Illinois Department of Financial and Professional Regulation. The Bond amount (Penalty) required is $20,000. This Bond indicates that the applicant has applied for a license to do business under the Residential Mortgage License Act of 1987 from the state of Illinois Department of Financial and Professional Regulation. This Bond requires the principal to strictly comply with all rules and regulations under the Residential Mortgage License Act of 1987. This Bond also ensures the principal will fully and faithfully comply with all local and state laws.