SuretyGroup.com is licensed to write all surety bonds for the mortgage industry in all 50 states. In most states, Mortgage Brokers, Lenders, Servicers, Loan Originators, Mortgage Companies and more are required to secure a surety bond to guarantee the compliance of rules and regulations set forth by a states license statutes. A Mortgage Broker Surety Bond will also protect consumers against misleading and fraudulent lending practices.
Premium rates for Mortage Broker Surety Bonds start at a minimum $100, or .75% of the bond amount, with good credit.
Applying for a Mortgage Broker, Lender, or Servicer Bond in Your State?
- The first step in applying for a surety bond is understanding the licensing requirements of the state in which you will operate. Click on the state below to learn more about that state's requirements. Most states require continuing education and charge a licensing fee. Most states require a surety bond to be posted in order to qualify for a license. Additionally, states require the surety posting the bond to be licensed in that specific state (the Surety Group is licensed in all 50 states).
- Once you understand the requirements, then you will need to complete an application for a mortgage broker bond. Below, click "Apply Now" that corresponds to the state in which you operate.
- Once your application has been approved, you will need to pay the premium that is determined by underwriting. Upon receipt of payment, you will then be issued a bond. The surety bond will either need to be sent to the National Mortgage Licensing System (NMLS), or the surety will directly upload it into the NMLS portal (states that are applicable) or the surety bond may need to be sent directly to your state government office. Each state specifies the means of delivery as how they want the bond to be received.
