SuretyBonds.Co

Obligee: Louisiana Office of Financial Institutions Surety Bonds

Louisiana Escrow Agent Bond

Louisiana Escrow Agent Bond for Deed Simply put a Bond For Deed is a form of Seller Financing. It is a contract to sell Real Estate in which the purchase price is paid in installments and title is transferred after the payments are made in full. In other states, Bond for Deed is usually called Contract for Deed or Land Contract. Bond for Deed contracts may seem relatively new, however, laws covering Bond for Deed contracts have been in existence since 1934. Recently, the Louisiana legislature enacted legislation that protects the Buyer under a Bond for Deed by not allowing any subsequent judgments or liens against the Seller under a Bond for Deed contract to prime a Bond for Deed contract. To protect all parties, Louisiana law requires the services of a licensed escrow agent. The escrow agent is responsible for collecting the payments, paying any underlying mortgages and issues IRS 1098 interest reports. In the event of non-payment, the escrow agent sends the required notices to both Purchaser and Seller. The contract allows the Seller to take back the property if payments are not made within the time allowed and without the costly expense of judicial foreclosure. Escrow Services, Inc. is the only statewide commercial escrow agent that has the experience and expertise required to properly service Bond for Deed contracts.

Louisiana Residential Mortgage Lender Bond

Louisiana Residential Mortgage Lender Bond ($50,000) The Mortgage Lender Surety Bond ($50k) is required by the Louisiana Office of Financial Institutions. This Bond is required of principals (applicants) that have applied to conduct business as a mortgage lender in the state of Louisiana. This Bond guarantees that the applicant will faithfully comply with the law. To learn more about Louisiana licensing requirements please visit the Lousiana Office of Financial Institutions website.

Louisiana Sale of Checks and Money Transmission Bond

Louisiana Sale of Checks and Money Transmission Bond Sale of Checks and Money Transmitters Activity: Any person who engages in the business of money transmission or selling of checks as a service or for a fee or other consideration in Louisiana must submit a company application through the NMLS. “Person” means any individual, partnership, association, joint stock association, trust, or corporation but does not include the United States government or the government of this state.

Understanding the Role of Louisiana Office of Financial Institutions

The Louisiana Office of Financial Institutions (OFI) is a state regulatory agency that oversees and regulates financial institutions operating within the state. This includes banks, credit unions, trust companies, and other financial service providers. The OFI is responsible for ensuring the safety and soundness of these institutions and protecting the interests of consumers.

What is the Louisiana Office of Financial Institutions?

The OFI was established in 1952 and is a division of the Louisiana Department of Treasury. It is headed by a commissioner who is appointed by the governor and confirmed by the state senate. The OFI is responsible for enforcing state laws and regulations related to financial institutions, as well as federal laws and regulations that apply to these institutions.

Role of the OFI

The primary role of the OFI is to ensure the safety and soundness of financial institutions operating in Louisiana. This includes conducting regular examinations of these institutions to assess their financial health and compliance with state and federal regulations. The OFI also reviews applications for new financial institutions and mergers and acquisitions of existing institutions.

Financial Compliance

One of the key responsibilities of the OFI is to ensure that financial institutions are in compliance with state and federal laws and regulations. This includes monitoring the financial activities of these institutions, such as lending practices and investment activities, to ensure they are operating within the law. The OFI also investigates consumer complaints and takes action against institutions that are found to be in violation of regulations.

Consumer Protection

The OFI is also responsible for protecting the interests of consumers who use financial services in Louisiana. This includes ensuring that financial institutions are providing fair and transparent services to their customers. The OFI also provides resources and information to consumers to help them make informed decisions about their financial services.

How to Contact the OFI

If you have a complaint or concern about a financial institution operating in Louisiana, you can contact the OFI for assistance. The OFI has a consumer assistance hotline that can be reached at 1-888-525-9414. You can also file a complaint online through the OFI website.

Conclusion

The Louisiana Office of Financial Institutions plays a crucial role in regulating and overseeing financial institutions in the state. By ensuring the safety and soundness of these institutions and protecting the interests of consumers, the OFI helps to maintain a stable and fair financial system in Louisiana. If you have any questions or concerns about financial institutions in the state, do not hesitate to reach out to the OFI for assistance.

Unshackle Me Bail B.
Unshackle Me Bail B.
David H.
David H.
great company
Carman R.
Carman R.
Palmetto Surety By Far Is The Best Insurance Company In The Industry For All Bail Bond Agents That Keep A High Standard.
Mildred “Battle Bonding” B.
Mildred “Battle Bonding” B.
Allison P.
Allison P.
Gershom F.
Gershom F.
Joe B.
Joe B.
Bryant Bail B.
Bryant Bail B.
they provide great service to their agents, proud to be apart of their team.
Chelita Bail Bonds & Notary S.
Chelita Bail Bonds & Notary S.
Rhonda S.
Rhonda S.
Wyatt H.
Wyatt H.
love this company period!
Charles M.
Charles M.
A wonderful company that puts its agents first!
dritan M.
dritan M.
910CountryLife
910CountryLife
Awesome staff, and very understanding. excellent agent support.
The Better B.
The Better B.
Very supportive, I have and would recommend this surety to anyone.
Nancy S.
Nancy S.
When I call in I always get excellent care from whomever I talk to.
Liberty Bail B.
Liberty Bail B.
New year new start . LETS DO THIS!!
Jessy M.
Jessy M.
Yukisha Zellars (.
Yukisha Zellars (.
Made the dropBut the return outstanding PALMETTO
Crystal B.
Crystal B.
Great, friendly people, wonderful services!
Tasha T.
Tasha T.
Amy A.
Amy A.
Elicia D W.
Elicia D W.
They are so efficient!
Paul E.
Paul E.
ALL I WANT IS OUT BAIL BONDS V.
ALL I WANT IS OUT BAIL BONDS V.
Maury W.
Maury W.
Can not wait to bring in the NEW YEAR !!!
Mara H.
Mara H.
Sol H.
Sol H.
Talon Ridge H.
Talon Ridge H.
BEST SURETY COMPANY I HAVE EVER WORKED WITH. ALL STAFF ARE PROFESSIONAL AND KNOWLEDGEABLE.
Tameisha T.
Tameisha T.
A Sabrina's Bail B.
A Sabrina's Bail B.
I haven’t been with Palmetto Surety for very long but they are fast at responding & are always very helpful in any situation. I needed assistance over a weekend & they still answered their phones & made it happen for me. Solid company & a solid team, I’m happy to be part of this Palmetto family💪🏻💛.A Sabrina’s Bail BondsClearwater, FL
Felicia W.
Felicia W.
Drew T.
Drew T.
828 Bail Bonds A.
828 Bail Bonds A.
Palmetto Surety Corporation deserves a solid 5-star review for their outstanding service. They have played a pivotal role in helping countless agents and agencies here in North Carolina start, grow, and sustain their businesses. Scott, Donnie, Shanelle, and the entire team are truly top-notch.What truly distinguishes them is their unwavering professionalism and a track record of supporting local agents and agencies. Palmetto Surety Corporation goes above and beyond to provide a level of service that sets the industry standard.Palmetto Surety Corporation is the go-to choice for anyone seeking a reliable surety in North Carolina. Thank you, Palmetto Surety Corporation, for your invaluable assistance!
Rodney T.
Rodney T.
First time using the website and the staff is awesome in answering questions and walking you through anything
Luke A.
Luke A.
Cherie R.
Cherie R.
The only smart choice..the only choice really. They have never let me down and I am proud to call myself a Palmetto agent.
Kristain K.
Kristain K.
They went out of their way to help us with an issue when they didn’t have to. They treat my family with respect and provided information that helped us understand what is going to happen moving forward.
Freddie Dixon Bail B.
Freddie Dixon Bail B.
Been with this awesome company 6 years. Super easy to work with, very understanding and work hard to get my transfers done!
jeff B.
jeff B.
922.50Best Surety ever. Helpful people, great business sense!
Chichi B.
Chichi B.
GREAT COMPANY AND EASY TO DEAL WITH.
Jay A.
Jay A.
Joanne M.
Joanne M.
#1-24-7 UNLIMITED BAIL B.
#1-24-7 UNLIMITED BAIL B.
EXCELLENT SERVICE AND AGENT COMMUNICATION..
JED B.
JED B.
Streak P.
Streak P.
Quick and fast
Luis H.
Luis H.
RODNEY R.
RODNEY R.
×
js_loader