Home  North Dakota Bonds  North Dakota Mortgage Broker Bond

Does a North Dakota Money Broker Need a Surety Bond for Licensure?


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.

Applicants must complete the following:

Complete the application and pay the NMLS processing fee, credit check and FBI Criminal Background Check fee.

Obtain a $25,000 surety bond. The surety company will directly upload the bond into the ESB system in the NMLS website.

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.

Applicants must comply with the credit check and criminal background check authorizations.

If applicable, businesses that use a dba or trade name will need a Certificate of Authority from the ND Secretary of State.

Provide a personal financial statement for any individual with a 25% or more ownership of the company.

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 Bond is dependent on credit.

Have Questions?

Contact our Surety Bond Specialists at:

Phone: 1‑844‑432‑6637
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday

ApplyOnline        DownloadApplication