Ohio Mortgage Broker Bond

    When Ohio began regulation of mortgage brokers on April 16, 1993, the regulations were on the non restrictive side of the scale; but since the Ohio Mortgage Broker Act in 2002 the restrictiveness has increased greatly. Mortgage brokers are now registered with the Division of Financial Institutions of the Department of Commerce. Mortgage Brokers must demonstrate fitness, have an in state office, and maintain a $50,000 Mortgage Broker Bond.
    Businesses applying for an entity license must designate an employee or owner as the Operations Manager. This person is required to have 3 years or more of experience, and are also required to pass an examination. Annual continuing education is also required. The operation manager must have sufficient authority over the entity to carry out his statutory responsibility.
    The Mortgage Broker Act also requires loan officers to obtain their own licensing. To obtain a license the loan officer must pass examination; demonstrate a level of fitness, as well as annual continuing education.
How to get bonded
  • Apply Online
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Ohio Mortgage Bond Markets

Bad Credit Mortgage Broker Bonds

Applicants with a low credit score, or public records (Bankruptcy, Liens, Collection, or Civil Judgments) will find a difficult time getting bonded. Bryant Surety Bonds, inc offers a Bad Credit Surety Bond Program that is specially tailored to your needs and can get you approved. This program is available for high risk mortgage brokers.

Ohio Licensure Requirements*

Applicant Requirements:

  • Age: No Requirement
  • State Residency: No Requirement
  • Experience: 3+ years in the mortgage lending field. If applicant is a corporation, partnership, or any other business entity the operations manager must fulfill the experience requirement.
  • Education: Operations manager complete 24 hours of live classroom instruction.
  • Continuing Education: 6 hours annually
  • Examination: Operations manager must pass examination.
  • Fitness For Licensure: Applicant must demonstrate: experience, character, financial responsibility, and general character.
  • Net Worth: No Requirement
  • Surety Bond: $25,000 mortgage surety bond
  • Background Check: Operation managers, owner with 5% ownership, partner, and officers must submit fingerprints as well as consent to a criminal background check.
  • Managing Principal: If the applicant is a business entity, then an operation manager shall be chosen who fulfills the experience, education, and examination requirements. The Operations Manager must be a licensed loan officers

State Licensing Fees:

  • Initial Application: $350 registration fee, $350 application fee.
  • Branch Application: $350 branch registration fee.
  • Renewal Application: $350 renewal fee, $350 branch renewal fee.

Employee Requirements:

  • Age: No Requirement
  • State Residency: No Requirement
  • Experience: No Requirement
  • Education: No Requirement
  • Continuing Education: licensee must complete 6 hours annually
  • Examination: With in 90 days of original issuance of loan officer license, licensee shall successfully complete as approved examination.
  • Fitness For Licensure: Character and general fitness.
  • Net Worth: No Requirement
  • Surety Bond: No Requirement
  • Background Check: Applicant shall submit a set of fingerprints, as well as consent to a background check.
  • Exemptions: A loan officer may not be employed by more hen one registrant at a time. Owner, officers, and partners who are not acting as the operations manager must register as a loan officer if they wish to act in that capacity. If a clerical employee provides assistance in taking and preparing mortgages loan applications, then this employee must be licensed as well.
  • Licensing Fee: $100 License fee
  • Renewal Fee: $100 Renewal fee

Branch Offices:

  • In State Requirements: A registrant must maintain an office in state.
  • Licensure Requirements: A registrant must obtain a separate registration for each branch office in the state of Ohio.
  • Branch Manager: None


  • Entities: Regulated financial institutions.
  • Safe Harbor: None

*Information for state licensing is provided as a guide, always verify with the state that the information is correct.

How to apply:

1.) Visit the commercial application page.
2.) Complete our online application.