Steve Golia with FIA Surety

Marketing Manager of FIA Surety, Steve Golia, is in the studio for today’s episode of Atlanta Real Estate Forum Radio. Joined by co-hosts Carol Morgan and Todd Schnick, the group discusses FIA Surety’s services and approach, as well as what surety bonds have to offer homebuilders and land developers over other bond types.

With over 40 years in the bonds business, Golia knows his bonds inside and out. According to Golia, FIA Surety is an interesting bond firm that specializes in surety bonds, primarily for site land developers and contractors, to guarantee the performance of public work contracts. Very few bond companies continue to write surety bonds, but FIA Surety seeks out this business to provide developers the opportunity to protect themselves and their finances. The company is currently based out of New Jersey but is licensed in Georgia along with several other states along the East Coast.

Surety bonds are a form of guarantee provided by an insurance company. When it comes to homebuilders or land developers, this is usually issued for the benefit of local jurisdiction such as townships. Typically, these bonds only concern the construction of public improvements that are required by the local planning board. On subdivisions or work sites, this can include various conditions such as parking lot size, retaining basins, curbs, lighting, sewers, electricity and more that are not part of residential construction but instead considered site work.

There are several ways townships can secure obligation, including holding cash or providing an irrevocable letter of credit. However, surety bonds provide developers what those options can’t offer – protection and cash reserve. Surety bonds act as a third party when disputes arise between the township and developer. If the township finds an issue with the developer, they can file a claim with the Department of Surety which will then consult with the developer about the issue before having them pull money out. FIA Surety is there to serve as the guarantor between the two parties, ensuring that the client handles their problems themselves without encountering any financial losses. This provides the opportunity to affect the outcome of the claim they wouldn’t otherwise have with other bond types.

Even throughout the coronavirus pandemic, FIA Surety has remained busier than ever, thanks to adjustments made with meetings and documents being handled electronically. One thing the company and developers are taking advantage of recently is the opportunity to improve cash position. They do this by using a surety bond to recover cash tied up in a township in which they did not use a bond. Developers are quickly finding out that the process of inspection and approval from a township is slower than expected. Not only is their money tied up, but the township will often hold the bond over the developers’ heads should something go wrong. Switching over to a surety bond, developers can simply pay a renewal premium and continue to have access to their cash.

To learn more about FIA Surety and their bond services, visit or contact Steve Golia directly at 856-304-7348. Also, be sure to listen to the full podcast interview for additional details.

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Georgia Residential Mortgage Licensee, License #22564. NMLS ID #6606. Subject to borrower and property qualifications. Not all applicants will qualify. New American Funding and FIA Surety are not associated. Click here to view the terms and conditions of products mentioned during the show. Corporate office 14511 Myford Rd., Suite 100, Tustin, CA 92780. Phone: (800) 450-2010. (October/2020)

New American Funding is a family-owned mortgage lender with a servicing portfolio of over 123,000 loans for $30.4 billion, 198 branches, and about 3,100 employees. The company offers several niche loan products and has made Inc. 5000’s list of Fastest-Growing Companies in America six times. It has a state-of-the-art career training facility and develops innovative technology, including the GoGo LO mobile application. For more information, visit

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