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Kentucky Mortgage Loan Broker Surety Bonds


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The Commonwealth of Kentucky, Department of Financial Institutions (also known as the KFI), Public Protection Cabinet, through the National Mortgage Licensing System, is tasked with the licensing of mortgage companies, mortgage loan brokers, master services and sub servicers. The Kentucky Revised Statutes Chapter 286.8, defines the surety bond requirement and licensing of mortgage loan brokers, mortgage loan companies, and mortgage loan originators.

Surety Bond and License Requirements:

  1. Complete all required education and pass the examination.
  2. Complete the mortgage loan broker application found on the NMLS system and pay the applicable filing fee, credit report fee, and FBI Criminal Background Check fee.
  3. A credit report is required for each person of control for the business.
  4. Provide an organizational chart detailing the company structure.
  5. Provide formation documentation for businesses that are partnerships, corporations, or limited liability companies.
  6. The Resident Agent or Registered Agent must match the name listed with the Secretary of State.
  7. Provide an audited financial statement prepared by a Certified Public Accountant, dated within 90 days of the business fiscal year end. Submitted financials must include a balance sheet, income statement, statement of cash flows and any relevant notes. New businesses must provide an initial statement of condition.
  8. Provide a Good Standing Certificate or Certificate of Authority issued by a Secretary of State.
  9. Indicate on the application any trade names or dba’s that will be used.
  10. If applicant answers Yes to any of the Disclosure Questions, provide complete details and any applicable documents.
  11. Provide a personal financial statement for each owner with a 10% or more interest in the business.
  12. Obtain a $50,000 surety bond. The name listed on the bond form will need to include the full legal name of the business/applicant and must match the name on the application.The surety bond renews on an annual basis.

How Much Will This Bond Cost?

The premium that you pay for a Kentucky Mortgage Loan Broker Surety Bond is dependent on credit. Premiums start at .75% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.

Did You Know?

The State of Kentucky requires mortgage loan broker licenses to be renewed by November 30 of each year and expire on December 31 of each year.

Related Links:

NMLS Registration Portal
NMLS - Kentucky Loan Broker License
Kentucky Mortgage Broker License Information
Download a Kentucky Mortgage Broker Surety Bond Application from SuretyGroup.com

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.


For a downloadable application