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Kentucky Mortgage Loan Company Surety Bond


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

Surety Bond and License Requirements:

  1. Submit proof of pre-licensure education.
  2. Complete the mortgage company application found on the NMLS system and pay the applicable state fee, credit report fee, filing fee, and FBI criminal background check fee.
  3. Obtain a $250,000 mortgage loan company surety bond. The surety bond form will need to be completed using the full legal name that was used in the application. Both the application name and the bond must match. The surety bond will renew on an annual basis.
  4. Provide an organizational chart for the structure of the company.
  5. Provide formation documentation for applicants that are corporations, limited liability companies or partnerships.
  6. The Registered Agent or Resident Agent must match the name listed with the Secretary of State.
  7. Indicate on the application any dba's or trade names that will be used.
  8. Provide a Certificate of Authority or a Good Standing Certificate issued by a Secretary of State.
  9. If applicant answers Yes to any of the Disclosure Questions, provide complete details and any applicable documents.
  10. Provide an audited financial statement prepared by a CPA, dated within 90 days of the business fiscal year end. Submitted financials must include a income statement, balance sheet, statement of cash flows and any relevant notes. Applicants must prove a minimum net worth of $1,000,000.
  11. A credit report is required for each person of control for the business.

How Much Will This Bond Cost?

The premium that you pay for a Kentucky Mortgage Company Surety Bond is dependent on credit, and business and personal financial statements. 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 all mortgage company licenses to be renewed annually by November 30 and expires on December 31 of each year.

Related Links:

NMLS - Federal Registry
Kentucky Mortgage Loan Company Information
Kentucky NMLS Mortgage Loan Company License Information

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