Mortgage Broker Bond

Fast Approvals - Low Rates - All 50 states!
  • Also known as a Loan Originator Bond and Loan Broker Bond
  • Required by the state to obtain your mortgage broker license
  • Guarantees that agencies/brokers will follow rules and regulations of their license
  • Broker bond requirements, form and amount vary by state
  • Bryant Surety Bonds can write multiple bonds allowing you to broker in all 50 states
How to get bonded
  • Apply Online
    Fill out our online application form.
  • Get Approved Instantly
    You will be sent your quote in minutes.
  • Pay and ship your bond
    We offer secure payment options.
Start Your Application
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What is a Mortgage Broker Bond?

A mortgage broker bond is a surety bond which guarantees that mortgage brokers will comply with state regulations and requirements for their business.

Like all bonds, mortgage broker bonds work as three-party agreements between: the obligee (consumers), the principal (the mortgage broker) and the surety bond company that provides the bond. The bond’s function is to serve as protection for consumers who are obtaining a mortgage with the help of the mortgage broker. If a consumer suffers financial harm because of a mortgage broker’s actions, the surety will compensate for these losses.

While procedures for receiving a mortgage broker license differ from state to state, obtaining a mortgage broker surety bond is almost always required.

Mortgage Broker Bond Cost

Mortgage broker bond rates and renewal dates differ from state to state. If you want to expand your business to multiple states, you will need to apply for separate bonds according to each state’s laws.

The most important factor in determining the cost of your mortgage broker surety bond premium is your personal credit score. If you have good credit, the cost of your bond premium will range between 1%-4% of the total bond amount.

Reducing the Cost of Your Mortgage Broker Bond Premium

You can reduce your surety bond premium over time by:

  • Improving your credit score
  • Providing strong financial and business statements or proof of liquid assets
  • Working with a professional and certified surety bond agency

Bryant Surety Bonds works with an extensive network of A-rated, T-listed surety bond companies in all 50 states. This guarantees that you will receive the lowest and best rates on your mortgage broker bond.

For an initial estimate of what your personal mortgage broker bond premium will look like, use our surety bond cost calculator in the sidebar or visit our surety bond cost section.

Bad Credit Surety Bond Program

If you have bad credit, bankruptcies or other financial or legal complications, some surety bond companies may deny you a mortgage broker bond. But with Bryant Surety Bonds’ bad credit surety bond program, you can still obtain your mortgage broker surety bond, though at slightly higher rates - between 5%-7.5%.

By improving your credit score and financial standing, you will be able to lower your rate on an annual basis.

How to Get Your Mortgage Broker Bond

Obtaining your mortgage broker surety bond is simple. Apply online and you will instantly receive a bond quote free of charge. You can also give us a call at (866)-450-3412 if you want to receive further information or need assistance during your application process.

The surety will ask for a number of documents before issuing the bond, to get a clear picture of your business and financial information. Along with your application you will also need to submit the relevant bond form for the state you will be working in. Once all your documents have been received and the surety has assessed them, it will underwrite your bond.

Mortgage broker bonds are usually renewed on a yearly or bi-yearly basis, along with your mortgage broker license.

Give us a call and we'll get you bonded!

Mortgage Broker Bond Renewal Deadlines

See below for particular information on some of the renewal dates across states: