Title Agent Surety and Fidelity Bonds for SSI Low Risk Agents

Secure Settlements, Inc. (SSI) is the first company to offer a standardized risk management process and information database of fully vetted mortgage closing professionals that protects both consumers and lenders – reducing fraud and ensuring that federal regulatory requirements are met.

The Secure Settlements process delivers the most advanced closing fraud risk analysis in the industry and meets all risk management requirements for third-party vetting of vendor relationships, as outlined by CFPB, OCC, HUD, FDIC, Fannie Mae, Freddie Mac and the National Credit Union Administration.

What Does This Bond Do?

The Title Agent Surety Bond ensures that the Title Agent adheres to the regulations governing the Title Industry. The Title Agent must prepare documents, handle closings, issues titles, handle escrow money and perform other duties as required by the states they operate in.

The Title Agent Surety Bond is a License and Permit Bond which “puts teeth” into the laws passed for the protection of the public. A bond is unlike insurance in that an insurance policy is written for the benefit of the policyholder while a bond is written for the benefit of a third party such as the state or its citizens.

Through a surety bond, the surety agrees to sustain — for the benefit of the obligee ( State or its Citizens ) — the obligations made by the principal ( Title Agent ) if the ( Title Agent ) fails to uphold its promises to the obligee ( State or its Citizens ). For a premium charge, the Surety will extend its financial strength in the form of surety credit to the Principal ( Title Agent ) to provide assurance that the Title Agent will adhere to all laws and regulations applicable.

If a claim is filed, the Surety will pay the claim and seek reimbursement from the Principal ( Title Agent ) for the amount paid on the claim and any legal fees incurred. The amount of the bond is determined by State Statutes and can vary from State to State.

SSI Low Risk Agents who meet the program requirements can see
a 35% rate savings over rates offered by others for the Surety Bond.

SSI’s risk mitigation practices along with sound surety underwriting allows us to offer a discounted program for a “best in class” rate.

Apply for a Title Agent Surety and Fidelity Bond

Click on the “Apply Now” button to your right to download both applications.  Follow the instructions provided.  You may also call us during our normal business hours at 877-ERMUNRO (376-8676).  To expedite your call, dial extension 146 to speak with Stevi.