CAMB 2007 Convention

NAMB West
NAMB West

Members who Provide Bonds and E&O Insurance

Click here for a PDF file of CAMB Members who Provide Bonds and E&O Insurance

Credit & Bonding

Some brokers have been denied a bond because of personal credit issues or a previous bankruptcy. The Division of Real Estate has offered an alternative option: A broker can assign a $25,000 Savings Account to the DRE for the period of 6 years. The broker will continue to collect the interest on it, however it has to be assigned to the DRE. At this time this is the only alternative available to brokers.

However, if you were denied a bond based upon credit, we have been told that the three carriers below do not look at credit, nor do they add fees to the premium.  This does not guarantee that you will get a bond, but does provide an alternative when searching. 

David Jackson, a CAMB member
Mortgage Insurance Agency
847-458-9900

Mason Grashot, a CAMB member
The Bond Exchange
888-545-0220

Mountain Surety
303-694-2663

Bankruptcy

CAMB is aware that several Mortgage Brokers have been denied a bond based upon bankruptcy or other issues.  CAMB would appreciate your assistance in collecting data about denials. The information will be used to provide statistical data to regulators and legislators as we help them evaluate the effectiveness of the new law. In order to accomplish that goal we need specifics.  If you have been DENIED a bond, please take a moment to fill out our secure form:  https://www.themeetingedge.com/secure/camb/camb-denied.cfm.

The information will be used only for reporting on what is actually happening to our brokers as they attempt to comply with the new legislation.