Mortgage Bonds
License Bonds for Mortgage Bankers, Brokers, Lenders, Originators, Servicers and Solicitors


Understanding Mortgage Bonds

How do I know if I need a mortgage license bond?

Almost all states require mortgage bankers, mortgage brokers, and mortgage lenders to maintain a surety bond to remain licensed. Usually, each state will provide the licensee with specific requirements when they initially grant the license. Many states have these requirements listed on their own websites. Please see the "State Bond Regulations" page on this website to help you find the current requirements. If you can't find the answers you're looking for, contact one of our customer service representatives to help you complete your application.

What is the purpose of a mortgage license bond?

The mortgage license bonds assures the recovery of fines, fees, and or expenses, levied by state regulators for non-compliance with state regulations. These bonds also assure recovery of losses incurred by borrowers or customers, that result from a licensee’s non-compliance with these regulations.

How is a mortgage license bond different than an insurance policy?

Unlike an insurance policy, the bond does not step in and pay losses for you. The bond guarantees that you will be able to pay any losses up to the face amount of the bond. The bond will only pay in your stead in the event that you are financially unable to meet your obligations.

My state allows me to post a letter of credit instead of a bond. What are the advantages of having a surety bond?

Obtaining a surety bond is generally the preferable method for meeting the state’s requirement for a financial guarantee of your performance. The surety company requires that those they bond have the financial resources to meet any the obligations that the bond guarantees, but it allows the licensee to have the unencumbered use of those resources as they engage in their business.

How do I apply for a Mortgage Bond?

MortgageBondCenter is the easiest and most affordable method to securing your bond. Let us show you how our streamlined process will reduce the cost and help you avoid the confusion. Click here to start the process: Apply Now

Apply for your mortgage license bond online.