Missouri Mortgage Broker Bond Requirements

To get a mortgage company license in Missouri, applicants need to get a mortgage broker bond in a minimum of $50,000.

The state Division of Finance is responsible for regulating, issuing, and renewing licenses for Missouri mortgage brokers.

The license application process itself is conducted through the Nationwide Mortgage Licensing System (NMLS).

After registering in NMLS, you will be able to complete the official license application form and submit supporting documentation such as your Missouri mortgage broker bond.

Why Do I Require a Bond?

The purpose of this bond is to serve as protection to borrowers who make use of the services offered by licensed mortgage brokers in the state. In particular, section 443.849 of the Missouri Revised Statutes states that:

“The surety bond is for the protection of borrowers and the director may make a claim on the bond on behalf of any borrower sustaining an injury as the result of the actions of a licensee not in compliance with or in violation of any of the provisions of sections 443.701 to 443.893.”

If a licensed Missouri mortgage broker violates any of these provisions and causes losses to a borrower, a claim can be filed against the bond. The surety that backs the bond must then investigate the claim to determine whether to provide compensation.

Compensation extended under a surety bond claim can be as high as the full penal sum of your bond. Once a surety covers a claim, the mortgage broker must repay the surety completely.

Is this your first time applying for a bond? See our ‘What is a surety bond’ guide to learn more about how bonds work and why you need one.

Start your surety bond application today! Why us?
  • Quick turnaround - just 1-2 business days
  • Tailor-made advice on building a strong application
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For more information about the cost of this bond, and how to apply, see the sections below!

If you’d like to speak to someone personally about getting your bond, call us at (866)-450-3412 anytime!

What’s The Cost of the Missouri Mortgage Broker Bond?

To get a Missouri mortgage company license you will need to post a surety bond at an amount of $50,000.

After your first year of operating as a mortgage broker, your bond amount may change in accordance with the number of loans you have brokered during the preceding year. See the official Division of Finance surety bond schedule to learn about how bond amounts increase.

Your bond premium is a percentage of the total amount of your bond. This percentage is determined by the surety that issues your bond based on several different financial indicators.

Factors That Determine Your Bond Premium

The primary factor that determines your bond premium is your personal credit score. If you have a high credit score, your premium will be low, and vice versa.

Typically, applicants with very high scores are offered a rate on their bond between .75% and 1.5% of the total bond amount.

Those applicants who have somewhat lower, or average, scores are usually offered a bond at a rate of no more than 3%. Finally, applicants who currently have a very low credit score, are bonded at rates upward of 3%.

On top of your credit score, your surety may also want to review some or all of the following financial information:

  • Personal and business financial statements
  • Fixed and liquid assets
  • Work experience and record

To learn more about how premiums are determined by sureties, see our detailed surety bond cost guide!

Want to know how much your bond might cost? See the table below to get a cost estimate on the basis of your credit score!

Missouri Mortgage Broker Bond Cost Based on Credit Score
License type Bond Amount Credit Score
Above 700 650-699 600-649 Below 599
Mortgage company / residential mortgage loan broker $50,000 $375-$750 $500-$1,500 $750-$2,000 $1,500-$3,500

How to Apply For a Mortgage Broker Bond in Missouri

To get started, click on the banner below and complete the brief surety bond application form. We will then provide you with a free quote on your bond, along with detailed instructions about how to proceed with the bonding process.

Not ready to apply? Then simply get a free no-obligations quote, so you can see our low prices!

If you have any additional questions about the bonding requirements for mortgage brokers in Missouri, call us at (866)-450-3412 to speak to our bond experts!

Want to get a mortgage broker bond in more than one state? We are licensed to provide surety bonds in all 50 states, and can help you with all your surety bond-related needs!


About us:
Bryant Surety Bonds, Inc. is a surety bond agency based in Pennsylvania. Licensed in all 50 states and with access to over 20 T-listed, A-Rated bonding companies, we have the contacts, expertise, and top service to provide you with a hassle-free experience, all while offering competitive rates for your surety bond.