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Mortgage Broker Bonds

Complete Guide to Bonding for Mortgage Brokers

  • Fast Approvals in all 50 States!
  • 100% Secure Online Application
  • Lowest Rates for Mortgage Brokers
  • Exclusive Bad Credit MBB Programs

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How Do I Get My Bond?

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What is a Mortgage Broker Bond?

Mortgage Brokers are real estate financing experts that help people find and negotiate financing terms for their specific mortgage. In addition to being licensed, mortgage brokers must also post a surety bond to ensure compliance with state regulations governing this line of business. These bonds are required by states to protect consumers that are in the process of obtaining mortgages. Our agency has a variety of programs designed to get all types of Mortgage Brokers approved at excellent rates.

Also known as Loan Broker Bonds, Mortgage Loan Originator, and Residential Mortgage Originator Bond.

Questions about Mortgage Broker Bonds

How do I become a Mortgage Broker?

Mortgage Broker licensing requirements differ by state. However, the general criteria to become a licensed broker is similar throughout the nation. For most states, prelicensing requirements consist of completing an approved mortgage broker course that covers issues such as state laws and ethical responsibility. Upon completion of the course, brokers will need to submit the state’s license application, along with a licensing fee. Additionally most state’s also require a surety bond to filed with the license.

How much does a Mortgage Broker Bond cost?

Annual premium amounts are determined based on owner personal credit. Brokers with stellar credit may be eligible for standard market rates, which range from 1% to 3% of the total bond amount. If the owner has a low credit score, or derogatory items on their credit report, annual premium typically ranges between 5% to 10% of the bond amount. In most states, we can approve higher risk applicants at no higher than 7.5%.

If I have bad credit, can I get a Mortgage Broker Bond?

Yes. While many sureties only offer quotes to customers with stellar credit, Lance Surety has a variety of Mortgage Broker Bond programs that allows us to approve over 99% of applicants instantly through our online application. Your annual premium will depend on your individual credit profile, but we’re able to offer very aggressive rates to mortgage brokers.

What can I do to lower my rate?

While our agency offers instant quotes based on owner personal credit, it is possible to lower the cost of your Mortgage Broker Bond by providing additional information. For example, if you have strong liquid assets and can provide cash verification, that could be used to strengthen your application. Strong business and personal financial statements can also be considered in determining your rate.

Do I need a physical office in a state to become licensed and bonded?

Not necessarily. This depends on what state you are trying to become licensed in. In the past, this was a standard state requirement, but as more business is being conducted over the internet, many states’ mortgage licensing laws are becoming more lenient. As each state’s laws differ, you’ll want to check specific state requirements to make sure you meet their criteria.

Will one Mortgage Broker Bond cover multiple states?

No. You'll need to post a separate mortgage broker bond for each state that you plan on conducting business in. These are state requirements, so be sure to check with each state for their specific license and bond requirements to ensure compliance.

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Find Your Surety Bond

  • Alabama
    SAFE Mortgage Act Bond
    State of Alabama, State Banking Dept
  • Alaska
    Mortgage Broker Regulation Act
    Dept of Commerce, Community and Economic Developme
  • Alaska
    Mortgage Licensee
    Dept of Commerce, Community and Economic Developme
  • Arizona
    Mortgage Surety Bond
    Dept of Financial Institutions
  • Arkansas
    Mortgage Broker or Mortgage Servicer Bond
    Securities Dept
  • California
    Mortgage Broker
    Commissioner of Corporations, Dept of Corporations
  • Colorado
    Mortgage Loan Originator (Individual)
    Division of Real Estate
  • Colorado
    Mortgage Loan Originator
    Division of Real Estate
  • Colorado
    Mortgage Broker (1st & 2nd Mortgages)
    Division Of Real Estate
  • Connecticut
    Mortgagee Licensee
    Commissioner of Banking
  • Delaware
    Mortgage Loan Broker
    Office of the State Bank Commissioner
  • District of Columbia
    Mortgage Broker Surety Bond
    Dept of Insurance, Securities and Banking, Banking
  • Georgia
    Mortgage Broker
    Dept of Banking and Finance
  • Idaho
    Surety Bond For Mortgage Broker
    Dept of Finance, Consumer Finance Bureau
  • Illinois
    Loan Broker's
    Secretary of State, Securities Dept
  • Illinois
    Residential Mortgage License
    Dept of Financial and Professional Regulation, Div
  • Indiana
    Loan Broker
    Securities Commissioner
  • Iowa
    Mortgage Surety
    Superintendent of Banking, Dept of Commerce
  • Iowa
    Mortgage Broker
    Superintendent of Banking, Dept of Commerce
  • Iowa
    REGULATED LOAN LICENSE (IOWA)
    Superintendent of Banking
  • Kansas
    Supervised Lender or Mortgage Company
    Office of the State Bank Commissioner
  • Kentucky
    Mortgage Loan Broker
    Executive Director, Office of Financial Institutio
  • Louisiana
    Residential Mortgage Originator
    Office of Financial Institutions
  • Louisiana
    Residential Mortgage Originator
    Office of Financial Institute
  • Maine
    Loan Broker
    Office of Consumer Credit Regulation
  • Maryland
    Mortgage Broker
    Financial Reglation Commissioner, Maryland Dept of
  • Massachusetts
    Mortgage Broker Bond
    Division of Banks
  • Massachusetts
    Uniform Surety
    Investment Adviser Licensing Section
  • Massachusetts
    Mortgage Loan Originator Bond
    Division of Banks
  • Michigan
    Mortgage Lender
    OFIR
  • Michigan
    First Mortgage Broker, Lender, and/or Servicer Bon
    Office of Financial and Insurance Services
  • Michigan
    Mortgage Loan Originator - Individual
    Office of Financial and Insurance Regulation
  • Michigan
    Mortgage Loan Originator - Company
    OFIR Consumer Finance Section
  • Michigan
    SECOND Mortgage Broker, Lender, and/or Servicer
    Commissioner, Office of Financial & insruance
  • Michigan
    Second Mortgage Broker, Lender, and/or Servicer
    Office of Financial and Insurance Regulation
  • Minnesota
    Residential Mortgage Originator
    Dept of Commerce
  • Minnesota
    Residential Mortgage Servicer
    Dept of Commerce, Division of Financial Examinatio
  • Mississippi
    Mortgage Consumer Protection Law Bond
    Dept of Banking and Consumer Finance
  • Mississippi
    S.A.F.E. Mortgage Act
    Mississippi Dept of Banking & Consumer Finance
  • Missouri
    Residential Mortgage Brokers (In Lieu of Audit)
    Commissioner of Finance
  • Missouri
    Residential Mortgage Loan Broker Bond
    Commissoner of Finance
  • Montana
    Mortgage Broker Licensee Bond
    Division of Banking and Financial Institutions
  • Nebraska
    Mortgage Originator
    Director, Dept of Banking and Finance
  • Nevada
    Mortgage Broker
    Division of Mortgage Lending
  • New Hampshire
    Mortgage Broker
    Bank Commissoner, Banking Dept
  • New Jersey
    Residential Mortgage Broker
    Commissioner of Banking and Insurance
  • New Mexico
    Mortgage Loan Company
    Director,Financial Institutions Division, Regulati
  • New York
    Originating Entity
    Superintendent of Banks
  • New York
    Registered Mortgage Brokers
    Superintendent of Banks
  • New York
    FHA Mortgage Loan Correspondent
    Superintendent of Banks
  • New York
    Mortgage Loan Originator (Individual)
    New York Banking Department
  • North Carolina
    Mortgage Broker Surety
    Commissioner of Banks
  • North Carolina
    Reverse Mortgage Bond
    Commissioner of Banks
  • North Carolina
    Mortgage Broker Bond
    North Carolina Commissioner of Banks
  • North Dakota
    Surety Bond for Money Brokers
    Dept of Financial Institutions, Consumer Division
  • Ohio
    Mortgage Broker Act
    Superintendent of Financial Institutions
  • Oklahoma
    Supervised Lender License
    Administrator, Dept of Consumer Credit
  • Oregon
    Mortgage Lender Surety
    Dept of Consumer & Buisness Services, Division of
  • Pennsylvania
    1st Mtg. Loan Correspondant
    Bureau of Licensing, Compliance & Consumer Service
  • Pennsylvania
    Mortgage Broker (3 page)
    Bureau of Licensing, Compliance & Consumer Service
  • Pennsylvania
    Mortgage Broker (8 page)
    Bureau of Licensing, Compliance & Consumer Service
  • Pennsylvania
    Mortgage Originator (Individual)
    Bureau of Licensing, Compliance & Consumer Service
  • Pennsylvania
    Sponsor of Mortgage Originators Bond
    Department of Banking
  • Rhode Island
    Loan Broker
    Dept of Business Regulation, Division of Banking
  • South Carolina
    Mortgage Broker Special Deposit
    Dept of Consumer Affairs
  • South Dakota
    Mortgage Company Bond
    Division of Banking, State of South Dakota
  • Tennesee
    Mortgage Broker, Lender or Servicer
    Financial Institutions
  • Tennessee
    Mortgage Broker, Lender or Servicer
    Tennessee Department of Financial Institutions
  • Texas
    Residential Mortgage Loan Servicer
    Dept of Savings and Mortgage Lending
  • Vermont
    Mortgage Broker
    Commisioner of Banking, Insurance, Securities and
  • Virginia
    Mortgage Broker
    State Corporate Commision, Bureau of Financial Ins
  • Virginia
    Mortgage Loan Originator Bond
    State Corp Commission
  • Washington
    Mortgage Broker Business
    Dept of Financial Institutions
  • Washington
    Mortgage Broker Business w/ Independent Contractor
    Dept of Financial Institutions
  • Washington
    Mortgage Broker Dealer
    Washington State Securities Division
  • West Virginia
    Mortgage Broker
    Commissioner of Banking
  • Wisconsin
    Mortgage Broker
    Dept of Financial Institutions
  • Wyoming
    Mortgage Lenders & Brokers
    Commissioner of Banking, Dept of Audit

Still Have Questions? Check Our FAQ Pages

What Our Clients Have To Say?

Kimberlee Ables
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Andrew Poincot
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
Margie Martinez
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!