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As of July 23, 2017, the Superintendent of Financial Services of the State of New York has reinstated Part 418 of the Superintendent’s Regulations and Supervisory Procedures. This section will obligate non-exempt mortgage loan servicers (MLS) to register with the Superintendent and submit a sufficient surety bond. The regulation aims to strengthen the mortgage loan …
Surety Bond Update for Small Contractors in NJ with Surety Bond Authority The U.S. Small Business Administration has recently announced the changes made to the Surety Bond Guarantee (SBG) Program which will benefit small contractors in the State of New Jersey. The amended program – which started on the 20th of September 2017 – allows …
Great news for Class A and Class B Contractors in Virginia! They now have the option to post a surety bond instead of providing and maintaining a minimum net worth required when applying for a license. Under Senate Bill 1113, Class A and B contractors can now submit a surety bond for both initial license …
