Mortgage Broker Bonds
Place a mortgage broker bond for your client through Baker's wholesale surety market. Meets state NMLS licensing requirements for brokers and lenders.
A mortgage broker bond is the license and permit bond state regulators require, through the NMLS, before licensing a mortgage broker, lender, or loan originator. Baker places it wholesale for your agency.
What it does
- →Guarantees the licensee complies with state mortgage-lending law
- →Protects borrowers and regulators against violations and misconduct
- →Satisfies the state's bonding condition for the NMLS license
Who needs it
Mortgage brokers, lenders, and loan originators applying for or renewing a state license via the NMLS.
- →The required bond amount is set by each state, and often scales with loan volume
- →Requirements differ by license type and by state, so confirm the obligee's terms
- →Some states require a separate bond for each license held
How to place it through Baker
Send us the licensee's state, license type, and the NMLS bond requirement.
- →Start a bond quote, or send the application link to your client
** Terms used here are a summary only. Always refer to the bond form and the obligee's requirements.