Texas Mortgage Broker Bond

The cost of the surety bond depends on the bond amount required. For a Texas Mortgage Broker Bond, the bond amount is determined by your servicing volume from the previous year. If your volume was $25,000,000 or less, the bond amount is $25,000. If it was more, the bond amount is $50,000 Your bond premium, however, is only a fraction of this bond amount. If you qualify for the standard bonding market, you can expect rates between 1% and 3% of the bond amount. For a $25,000 bond, this means anywhere between $250 and $750.

How is your bond cost determined? When you apply for your bond, your surety will examine your personal credit score, business finances, assets, liquidity and professional know-how. On this basis, it will assess the risk of bonding you. If your finances are solid, you can expect a lower bond premium.

For a full picture of how your Texas Mortgage Broker Bond price is determined, our surety bond cost page is a great resource.

1. Submit Your Application

To start the bonding process, simply complete our online application form. You'll be asked to provide additional details and essential documents to help us identify the specific type of bond you need, but rest assured, we'll walk you through each step, ensuring a smooth and stress-free experience.

Recently, we partnered with a Texas-based Residential Mortgage Loan Servicer to secure their Texas Mortgage Broker Bond. Despite their industry experience, they were apprehensive about the bond process’ intricacies and its potential impact on their business. Recognizing their commitment to excellence, we provided personalized guidance throughout the application journey. Our step-by-step approach simplified the process, ensuring seamless compliance with Texas requirements. Thanks to our collaborative effort, their launch was a resounding success, cementing their status as a trusted Residential Mortgage Loan Servicer in the region.

2. Get a Bond Quote

Upon receipt of your application, we promptly process it to secure the best bond rate for you, drawing on our industry expertise. Following this, we provide a free quote and offer expert advice and clear instructions to simplify the bonding process for you.

3. Buy Your Bond

Once you've paid your bond premium, you're officially bonded. We'll send your bond to you via email, and if necessary, we'll also mail you a paper copy.

Before approval of registration with the Texas Department of Savings and Mortgage Lending (TX-SML), an applicant must submit a surety bond as required by Texas Finance Code § 158.055.

The surety bond, also known as Texas Residential Mortgage Loan Services Bond, must be filed using a prescribed form approved by TX-SML, whether in electronic or paper format. The Principal’s name on the Residential Mortgage Loan Servicer Surety Bond must match the name as it will appear on the approved registration information by the Texas Secretary of State. If submitting a paper surety bond, it must be accompanied by the surety seal and an attached power of attorney when submitted to TX-SML.

After compiling all required documents, you can send the application packet to the Texas SML at the address provided below:

Department of Savings and Mortgage Lending
Division of Licensing
2601 N. Lamar, Suite 201,
Austin, TX 78705

1-877-276-5550
[email protected]

In Texas, entities engaged in the residential mortgage loan business need to be registered with the state and obtain a Texas mortgage broker license. These registrations are regulated and issued by the Texas Department of Savings and Mortgage Lending. The application process for companies and individuals is managed online through the Nationwide Mortgage Licensing System (NMLS), where all license applications are to be submitted. NMLS enables entities and loan originators to apply for or renew licenses or registrations conveniently online.