Overview
A mortgage broker bond is a surety bond that NMLS-licensed mortgage brokers post to obtain and keep their state license. It guarantees that the broker will follow state mortgage law and treat borrowers fairly. If the broker violates the rules and causes a loss, a claim can be made against the bond up to its amount.
State regulators set the required bond amount, and it varies by state and sometimes by loan volume. Because the bond guarantees the broker's conduct, underwriting focuses on the owners' credit and the firm's financial standing rather than on insuring a particular risk.
It is a surety bond that protects borrowers and the regulator. When the surety pays a claim, the broker repays it under the indemnity agreement.
Who needs this bond
Licensed mortgage brokers in every state that requires an ESB at licensing or renewal.
Typical amount and term
Bond amount typically 10,000 to 150,000 dollars depending on state. Premium 1 to 3 percent of bond amount.
What this bond costs
Your premium is a small percentage of the bond amount, set by underwriting. The biggest drivers:
- The state-set bond amount
- The owners' personal credit
- The firm's financials and time in business
- Loan volume in states that scale the bond
| Scenario | Bond amount | Estimated premium |
|---|---|---|
| Strong credit | $25,000 bond | around 1 to 3 percent per year |
| Average credit | $50,000 bond | around 3 to 5 percent per year |
| Credit challenges | $75,000 bond | higher rate, secured options available |
Figures are illustrative premium ranges, not quotes or statutory amounts. Your rate depends on the bond amount your obligee requires and your underwriting profile.
Mortgage Broker bond by the numbers
- US jurisdictions we track require a mortgage broker bond
- 52 of 52US jurisdictions we track require a mortgage broker bondSource: state statutes compiled in the Cornerstone bond cost index, data as of 2026-06-17. Mortgage Broker bond cost index
- statutory bond amounts across the 52 states that publish one
- $10,000 to $50,000statutory bond amounts across the 52 states that publish oneSource: state statutes compiled in the Cornerstone bond cost index, data as of 2026-06-17. Mortgage Broker bond cost index
- median statutory bond amount across those states
- $10,000median statutory bond amount across those statesSource: state statutes compiled in the Cornerstone bond cost index, data as of 2026-06-17. Mortgage Broker bond cost index
What you will need
- NMLS Unique Identifier
- State list and per-state origination figures
- Owner credit authorization
How to apply
- Send NMLS ID and target states
- Receive a per-state quote within one business day
- Surety signs the ESB in NMLS for your filing
How a surety bond differs from insurance
A mortgage broker bond protects borrowers and the state, not your firm. It is a surety guarantee of compliant conduct, while errors and omissions insurance covers your own liability for professional mistakes. They serve different purposes and brokers often carry both.
Frequently asked questions
Who needs a mortgage broker bond?
NMLS-licensed mortgage brokers in states that condition the broker license on a posted surety bond, which is most states.
How is the bond amount determined?
The state regulator sets it through NMLS, and amounts vary by state and sometimes by loan volume.
What does the premium depend on?
Mainly the bond amount and the owners' credit. Strong credit earns a low single-digit rate; weaker credit costs more.
Is the bond a one-time cost?
No. The bond is maintained for as long as you hold the license and is renewed each term, with premium due at renewal.
Mortgage Broker bond requirements by state
The figures below are the ones that actually differ from state to state. Everything else about this bond, who needs it, what underwriting looks at, and how it is filed, is the same everywhere and is covered above.
The published renewal fee is $300 to $800 in every state that charges one.
In every state that requires the bond, it renews annually alongside the underlying license.
| State | Bond amount | Regulator |
|---|---|---|
| Alabama | $10,000 | Alabama State Banking Department |
| Alaska | $10,000 | Alaska Division of Banking & Securities |
| Arizona | $10,000 | Arizona Department of Financial Institutions |
| Arkansas | $10,000 | Arkansas Securities Department |
| California | $50,000 | California DFPI |
| Colorado | $10,000 | Colorado Division of Real Estate |
| Connecticut | $25,000 | Connecticut Department of Banking |
| Delaware | $10,000 | Delaware Office of the State Bank Commissioner |
| District of Columbia | $10,000 | DC Department of Insurance, Securities and Banking |
| Florida | $50,000 | Florida Office of Financial Regulation |
| Georgia | $10,000 | Georgia Department of Banking and Finance |
| Hawaii | $10,000 | Hawaii DCCA |
| Idaho | $10,000 | Idaho Department of Finance |
| Illinois | $50,000 | Illinois DFPR |
| Indiana | $10,000 | Indiana DFI |
| Iowa | $10,000 | Iowa Division of Banking |
| Kansas | $10,000 | Kansas OSBC |
| Kentucky | $10,000 | Kentucky DFI |
| Louisiana | $10,000 | Louisiana OFI |
| Maine | $10,000 | Maine Bureau of Consumer Credit Protection |
| Maryland | $10,000 | Maryland DLLR |
| Massachusetts | $25,000 | Massachusetts Division of Banks |
| Michigan | $10,000 | Michigan DIFS |
| Minnesota | $10,000 | Minnesota Department of Commerce |
| Mississippi | $10,000 | Mississippi Department of Banking |
| Missouri | $10,000 | Missouri Division of Finance |
| Montana | $10,000 | Montana Division of Banking and Financial Institutions |
| Nebraska | $10,000 | Nebraska Department of Banking and Finance |
| Nevada | $25,000 | Nevada Division of Mortgage Lending |
| New Hampshire | $10,000 | New Hampshire Banking Department |
| New Jersey | $10,000 | New Jersey Department of Banking and Insurance |
| New Mexico | $10,000 | New Mexico Regulation and Licensing |
| New York | $50,000 | New York DFS |
| North Carolina | $10,000 | North Carolina Commissioner of Banks |
| North Dakota | $10,000 | North Dakota Department of Financial Institutions |
| Ohio | $25,000 | Ohio Division of Financial Institutions |
| Oklahoma | $10,000 | Oklahoma Department of Consumer Credit |
| Oregon | $10,000 | Oregon Division of Financial Regulation |
| Pennsylvania | $10,000 | Pennsylvania Department of Banking and Securities |
| Puerto Rico | $10,000 | Puerto Rico OCIF |
| Rhode Island | $10,000 | Rhode Island Division of Banking |
| South Carolina | $10,000 | South Carolina Board of Financial Institutions |
| South Dakota | $10,000 | South Dakota Division of Banking |
| Tennessee | $10,000 | Tennessee Department of Financial Institutions |
| Texas | $50,000 | Texas SML (Savings and Mortgage Lending) |
| Utah | $10,000 | Utah DFI |
| Vermont | $10,000 | Vermont DFR |
| Virginia | $10,000 | Virginia Bureau of Financial Institutions |
| Washington | $10,000 | Washington DFI |
| West Virginia | $10,000 | West Virginia Division of Financial Institutions |
| Wisconsin | $10,000 | Wisconsin Department of Financial Institutions |
| Wyoming | $10,000 | Wyoming Division of Banking |
State figures last verified August 3, 2026.
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The complete compliance picture
The financial services and lenders stack
Lenders, mortgage originators, and money services businesses carry three layers of compliance at once: the state license that lets them operate, the surety bond a regulator may require to hold the license, and the insurance program that covers the operation. Here is how the three fit together.
Reviewed by the Cornerstone Surety bond team. Last reviewed 2026-06-17. Last verified June 17, 2026.