Short answer
Most states require a surety bond as part of mortgage broker, lender, and originator licensing, with the amount set by the state and often tied to your loan volume. The bond is maintained through the NMLS alongside the license. Because the requirement is per state, a broker licensed in several states carries a bond in each.
Mortgage licensing almost always includes a bond requirement. States set the bond amount, and some scale it to your origination volume, so a larger operation may post a larger bond. The bond guarantees you will follow the mortgage laws governing your license.
These bonds are tracked in the NMLS with the rest of your licensing record, and each state where you are licensed has its own bond and renewal. Keeping every state's bond active is part of staying in good standing to originate.
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