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How Do I Get a esidential Mortgage Broker Surety Bond in New Jersey?

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If you are a Residential Mortgage Broker in New Jersey, you are required to apply for a license through the National Mortgage Licensing System (NMLS) and to file a New Jersey Residential Mortgage Broker Surety Bond in the amount of $150,000 as a condition of licensure.


Surety Bond and License Requirements:

  1. Complete the application and pay the NMLS and FBI Criminal Background Check fees.
  2. Provide financial statements that include a Balance Sheet, Income Statement, and a Statement of Cash Flows (and any relevant notes). A minimum net worth of $50,000 be maintained.
  3. Provide a copy of the Certificate of Authority or Good Standing Certificate issued from the New Jersey Division of Revenue.
  4. If applicable, provide formation documents, other trade name (dba) registration, an explanation for any questions answered yes in the disclosure statements.
  5. Obtain a $150,000 surety bond. The name of the principal on the bond must match the applicant name on the application.
  6. Provide a Certification of Office Suitability.
  7. Applicants must be able to pass a criminal background check.

How Much Will This Bond Cost?

The premium that you pay for a New Jersey Residential Mortgage Broker Surety Bond is dependent on credit and buisness and personal financials.

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.

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For a downloadable application