Home  North Dakota Bonds  North Dakota Mortgage Broker Bond

North Dakota Money Broker Surety Bond

A

Apply Online


Or call 844-432-6637

A Money Broker in North Dakota (formerly known as a mortgage broker) is required to apply for a license through the National Mortgage Licensing System (NMLS) and file a North Dakota Money Broker Surety Bond in the amount of $25,000. with the North Dakota Department of Financial Institutions.

Surety Bond and License Requirements:

  1. Complete the application and pay the NMLS processing fee, credit check and FBI Criminal Background Check fee.
  2. Obtain a $25,000 surety bond. The surety company will directly upload the bond into the ESB system in the NMLS website.
  3. Provide financial statements that include: a Statement of Cash Flows, Income Statement, and a Balance Sheet. A new business can submit an initial Statement of Condition. A minimum net worth of $25,000 is required at all times.
  4. Applicants must comply with the credit check and criminal background check authorizations.
  5. If applicable, businesses that use a dba or trade name will need a Certificate of Authority from the ND Secretary of State.
  6. Provide a personal financial statement for any individual with a 25% or more ownership of the company.
  7. Provide the following: A business plan, a management chart, an organizational chart, a copy of a privacy notice to be used for business transactions, and a copy of either a Certificate of Authority or a Good Standing Certificate,

How Much Will This Bond Cost?

The premium that you pay for a North Dakota Money Broker Surety Bond is dependent on credit.

Related Links:

North Dakota NMLS Money Broker License Information
North Dakota Money Broker 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.

DownloadApplication

For a downloadable application