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Minnesota mortgage license surety bonds
Minnesota Mortgage License Bonds
Minnesota residential mortgage originators, residential mortgage servicers, accelerated mortgage payment providers, and mortgage loan originator sponsors may need surety bond coverage for licensing or registration with the Minnesota Department of Commerce. Jet Insurance Company helps Minnesota mortgage professionals quote, purchase, renew, replace, and manage the bond required for their NMLS filing.
Use this page to compare Minnesota Mortgage Originator, Mortgage Servicer, Accelerated Mortgage Payment Provider, Mortgage Loan Originator coverage, and Mortgage Broker, Lender and/or Servicer bond requirements, view Jet pricing, and get filing support for your Minnesota mortgage license.
Need help? Call (855) 516-3348 or email [email protected].
Last updated: July 2026. Minnesota mortgage bond requirements can change. Confirm the final license type, bond amount, filing method, and NMLS or Minnesota Department of Commerce checklist before filing.
Minnesota Mortgage Bond Quick Answers
Which bonds are covered?
This page covers Minnesota Residential Mortgage Originator Bonds, Residential Mortgage Servicer Bonds, Accelerated Mortgage Payment Provider Bonds, Mortgage Loan Originator Bond Coverage, and Mortgage Broker, Lender and/or Servicer Bonds.
Who regulates these licenses?
The Minnesota Department of Commerce regulates mortgage originators, mortgage servicers, mortgage loan originators, exempt entities, and accelerated mortgage payment providers.
What are common limits?
Mortgage Originator Bonds range from $125,000 to $300,000. Mortgage Servicer Bonds range from $125,000 to $300,000. Accelerated Mortgage Payment Provider Bonds generally start at $100,000.
How do I get help?
Call (855) 516-3348 or email [email protected].
Choose Your Minnesota Mortgage License Bond
The correct Minnesota mortgage bond depends on the license or registration type. Residential mortgage originators use a bond based on closed Minnesota residential mortgage loan volume. Residential mortgage servicers use a bond based on unpaid principal balance for Minnesota serviced residential mortgage loans. Accelerated mortgage payment providers use a bond amount determined by the Commissioner, with new businesses generally no less than $100,000.
Residential Mortgage Originator Bond
For Minnesota residential mortgage originator companies, including businesses engaged in residential mortgage brokering or lending activity under Chapter 58.
Bond limits: $125,000, $150,000, $200,000, or $300,000
Starting price: $625 for one year or $63 monthly for the $125,000 bond.
Residential Mortgage Servicer Bond
For Minnesota residential mortgage servicers licensed to service Minnesota residential mortgage loans under Chapter 58.
Bond limits: $125,000, $200,000, or $300,000
Starting price: $625 for one year or $63 monthly for the $125,000 bond.
Accelerated Mortgage Payment Provider Bond
For Minnesota accelerated mortgage payment providers that receive funds to make mortgage payments on behalf of consumers under the accelerated mortgage payment provider framework.
Common starting limit: $100,000 for new businesses, unless a different amount is assigned
Starting price: $499 for one year or $50 monthly for the $100,000 bond.
Mortgage Loan Originator Bond Coverage
For Minnesota mortgage loan originators, bond coverage is commonly handled through the residential mortgage originator company bond, which must cover mortgage loan originators who are employees or independent agents of the applicant.
Common coverage: Company mortgage originator bond
Company bond limits: $125,000 to $300,000
Important: Minnesota company/business entities use NMLS for Mortgage Originator and Mortgage Servicer license applications. Mortgage loan originators also use NMLS, and originators working under a licensed mortgage originator are generally covered by the company bond. Match the bond title, legal name, NMLS ID, effective date, and amount to the current Minnesota Department of Commerce or NMLS checklist before filing.
Minnesota Mortgage License Bond Pricing
Jet pricing below follows the same mortgage bond pricing method used on the other state pages, with a $79 minimum one-year premium. The one-year price is generally 0.5% of the bond limit. If the calculated one-year price ends in zero, Jet subtracts $1 before calculating multi-year options. The two-year price is 1.75 times the one-year price, and the three-year price is 2.5 times the one-year price. Monthly pricing is 10% of the one-year price, rounded when needed.
| Bond Limit | Common Minnesota Use | Monthly | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|
| $100,000 | Accelerated Mortgage Payment Provider Bond common starting amount for new businesses | $50 | $499 | $873 | $1,248 |
| $125,000 | Residential Mortgage Originator minimum bond or Residential Mortgage Servicer minimum bond | $63 | $625 | $1,094 | $1,563 |
| $150,000 | Residential Mortgage Originator Bond for closed Minnesota loan volume over $10 million to $25 million | $75 | $749 | $1,311 | $1,873 |
| $200,000 | Residential Mortgage Originator Bond for closed Minnesota loan volume over $25 million to $100 million or Servicer Bond for serviced UPB over $10 million to $50 million | $100 | $999 | $1,748 | $2,498 |
| $300,000 | Residential Mortgage Originator Bond for closed Minnesota loan volume over $100 million or Servicer Bond for serviced UPB over $50 million | $150 | $1,499 | $2,623 | $3,748 |
Pricing shown is preferred-tier pricing and may vary based on underwriting approval, bond form, selected term, effective date, final required bond amount, and license requirements.
Get Minnesota Mortgage Bond Pricing
Start a quote online and select the Minnesota bond that matches your license or NMLS checklist. Jet can help confirm whether you need a Residential Mortgage Originator Bond, Residential Mortgage Servicer Bond, Accelerated Mortgage Payment Provider Bond, or Mortgage Loan Originator coverage through a company bond.
Questions? Call (855) 516-3348 or email [email protected].
Minnesota Mortgage Bond Requirements
Minnesota mortgage bond requirements are set by license type and volume. Residential mortgage originators must maintain a surety bond that covers all mortgage loan originators who are employees or independent agents of the applicant. Residential mortgage servicers must maintain a surety bond or irrevocable letter of credit based on Minnesota serviced unpaid principal balance. Accelerated mortgage payment providers must maintain a bond or an approved alternative deposit.
| Minnesota License or Authority | Bond Amount | How the Amount Works | Quote |
|---|---|---|---|
| Residential Mortgage Originator | $125,000 to $300,000 | Based on closed Minnesota residential mortgage loans originated in the preceding year. | Get Quote |
| Residential Mortgage Servicer | $125,000 to $300,000 | Based on unpaid principal balance for Minnesota residential mortgage loans serviced during the preceding quarter. | Get Quote |
| Accelerated Mortgage Payment Provider | Determined by the Commissioner; new businesses generally no less than $100,000 | Based on Minnesota client funds held or to be held by the provider, unless an approved cash or securities deposit is accepted. | Get Quote |
| Mortgage Loan Originator Coverage | Covered through the company mortgage originator bond when eligible | The residential mortgage originator company bond must cover all MLO employees or independent agents of the applicant. | Get Help |
| Mortgage Broker, Lender and/or Servicer | $125,000 to $300,000, or assigned AMPP amount | Use the originator schedule for broker/lender activity, the servicer schedule for servicing activity, and the AMPP amount for accelerated mortgage payment provider activity. | Get Quote |
Filing note: Minnesota uses NMLS for Mortgage Originator, Mortgage Servicer, Mortgage Loan Originator, exempt entity registration, and Accelerated Mortgage Payment Provider licensing. Confirm the exact bond amount, electronic surety bond status, and filing requirements on the current Minnesota NMLS checklist.
Minnesota Mortgage Bond Amounts
Minnesota has separate bond schedules for residential mortgage originators and residential mortgage servicers. Use the originator schedule for closed Minnesota residential mortgage loans and the servicer schedule for Minnesota serviced unpaid principal balance.
| Minnesota Bond Type | Volume or Balance | Required Bond Amount | Jet 1-Year Price |
|---|---|---|---|
| Residential Mortgage Originator | $0 to $10,000,000 in closed Minnesota residential mortgage loans | $125,000 | $625 |
| Residential Mortgage Originator | $10,000,000.01 to $25,000,000 in closed Minnesota residential mortgage loans | $150,000 | $749 |
| Residential Mortgage Originator | $25,000,000.01 to $100,000,000 in closed Minnesota residential mortgage loans | $200,000 | $999 |
| Residential Mortgage Originator | Over $100,000,000 in closed Minnesota residential mortgage loans | $300,000 | $1,499 |
| Residential Mortgage Servicer | $0 to $10,000,000 in unpaid principal balance for serviced Minnesota residential mortgage loans | $125,000 | $625 |
| Residential Mortgage Servicer | $10,000,000.01 to $50,000,000 in unpaid principal balance for serviced Minnesota residential mortgage loans | $200,000 | $999 |
| Residential Mortgage Servicer | Over $50,000,000 in unpaid principal balance for serviced Minnesota residential mortgage loans | $300,000 | $1,499 |
| Accelerated Mortgage Payment Provider | New business or amount determined by Commissioner based on Minnesota client funds | Generally no less than $100,000 for new businesses | $499 |
Volume note: Use the bond amount shown by the Minnesota Department of Commerce or NMLS checklist as the final amount. Mortgage call reports can require an increase or allow a decrease based on updated Minnesota loan volume or serviced unpaid principal balance.
Minnesota Residential Mortgage Originator Bond
The Minnesota Residential Mortgage Originator Bond applies to company/business entities licensed as residential mortgage originators. Minnesota’s mortgage originator bond starts at $125,000 and can increase to $150,000, $200,000, or $300,000 based on closed Minnesota residential mortgage loan volume.
License Type
Minnesota Residential Mortgage Originator License.
Bond Limits
$125,000 to $300,000, based on closed Minnesota residential mortgage loan volume.
Starting Price
$625 for one year or $63 monthly for the $125,000 bond.
The bond must cover all mortgage loan originators who are employees or independent agents of the applicant and must remain in effect during all periods of licensing.
Minnesota Residential Mortgage Servicer Bond
The Minnesota Residential Mortgage Servicer Bond applies to licensed residential mortgage servicers. Minnesota requires a servicer to maintain a surety bond or irrevocable letter of credit in an amount not less than $125,000, with higher amounts based on Minnesota serviced unpaid principal balance.
License Type
Minnesota Residential Mortgage Servicer License.
Bond Limits
$125,000, $200,000, or $300,000, based on Minnesota serviced unpaid principal balance.
Starting Price
$625 for one year or $63 monthly for the $125,000 bond.
Use this option when the Minnesota or NMLS checklist references mortgage servicing, residential mortgage servicer authority, or the mortgage servicer bond under Chapter 58.
Minnesota Accelerated Mortgage Payment Provider Bond
The Minnesota Accelerated Mortgage Payment Provider Bond applies to businesses that receive funds to make mortgage payments to a lender or lenders on behalf of mortgagors in a way that exceeds the regular scheduled minimum payment obligation. Minnesota requires accelerated mortgage payment provider licensing through NMLS.
License Type
Minnesota Accelerated Mortgage Payment Provider License.
Bond Amount
Determined by the Commissioner based on Minnesota client funds held or to be held; new businesses generally no less than $100,000.
Starting Price
$499 for one year or $50 monthly for the $100,000 bond.
The Commissioner may accept a cash or securities deposit instead of a surety bond when approved. Jet can help when the license checklist requires a surety bond.
Minnesota Mortgage Loan Originator Bond Coverage
Minnesota mortgage loan originators use NMLS for licensing. For a residential mortgage originator company, the company surety bond must cover all mortgage loan originators who are employees or independent agents of the applicant. Employees of certain exempt entities may not need a Minnesota MLO license but may need NMLS registration.
License Type
Minnesota Mortgage Loan Originator License or NMLS registration, depending on the employer and exemption status.
How Coverage Works
Coverage is commonly provided through the residential mortgage originator company bond.
Company Bond Limits
$125,000 to $300,000, based on closed Minnesota residential mortgage loan volume.
Before ordering a separate MLO bond, confirm whether the originator is covered under a licensed residential mortgage originator company bond or is employed by an exempt entity that only requires NMLS registration.
Minnesota Mortgage Broker, Lender and/or Servicer Bond
The Minnesota Mortgage Broker, Lender and/or Servicer Bond option is for mortgage businesses whose NMLS or Department of Commerce requirement references broader mortgage authority. Minnesota’s residential mortgage originator license includes broker and lender activity, while residential mortgage servicer licensing applies to servicing activity.
Authority Type
Minnesota mortgage broker, lender, residential mortgage originator, servicer, MLO sponsor, or accelerated mortgage payment provider authority.
Common Bond Limits
$125,000 to $300,000 for originator or servicer bonds; generally no less than $100,000 for new AMPP businesses.
Starting Price
$499 for one year for a $100,000 AMPP bond or $625 for one year for a $125,000 originator or servicer bond.
Use this option when the Minnesota or NMLS requirement references mortgage broker, mortgage lender, mortgage servicer, mortgage originator, MLO coverage, or combined mortgage activity rather than a narrower bond title.
Minnesota Exempt Entity and MLO Registration Note
Minnesota recognizes exempt entity paths for certain mortgage-related activity. Mortgage loan originators who are employees of certain exempt entities may not be required to maintain a Minnesota MLO license, but they must register through NMLS. Mortgage originators and mortgage servicers who are employees under Minnesota’s exemption provisions are also not required to maintain a state license but must register through NMLS.
Exempt Entity MLOs
Some exempt-entity MLOs register through NMLS instead of holding a Minnesota state MLO license.
Company Bond
If a company license is required, use the bond shown on the Minnesota NMLS checklist.
Confirm Before Filing
Use the NMLS checklist and Minnesota Department of Commerce guidance to confirm whether a bond is required.
Minnesota Mortgage Bond Comparison
Minnesota mortgage bond requirements depend on the license type and NMLS record. This comparison helps identify which bond is most likely to apply before starting the quote.
| Requirement | Regulator | Bond Amount | Main Filing Point |
|---|---|---|---|
| Residential Mortgage Originator Bond | Minnesota Department of Commerce | $125,000, $150,000, $200,000, or $300,000 | NMLS company license record |
| Residential Mortgage Servicer Bond | Minnesota Department of Commerce | $125,000, $200,000, or $300,000 | NMLS company license record |
| Accelerated Mortgage Payment Provider Bond | Minnesota Department of Commerce | Determined by the Commissioner; new businesses generally no less than $100,000 | NMLS license record |
| Mortgage Loan Originator Coverage | Minnesota Department of Commerce | Covered through company bond when eligible | NMLS MLO license or registration record |
How Minnesota Mortgage Bond Quotes Work
1
Confirm the Minnesota License
Identify whether the NMLS checklist references Residential Mortgage Originator, Residential Mortgage Servicer, Accelerated Mortgage Payment Provider, MLO coverage, or exempt entity registration.
2
Confirm the Bond Amount
Use the current Minnesota NMLS checklist and the statutory schedule for closed loan volume, serviced unpaid principal balance, or AMPP client funds.
3
Buy and File
After purchase, Jet provides the bond or filing guidance based on the current Minnesota and NMLS process.
Need a Minnesota Mortgage License Bond?
Jet can help you choose the correct Minnesota Residential Mortgage Originator Bond, Residential Mortgage Servicer Bond, Accelerated Mortgage Payment Provider Bond, or Mortgage Loan Originator coverage, review pricing, and get the bond issued for licensing.
Minnesota mortgage bond pricing starts at $499 for one year for a $100,000 AMPP bond and $625 for one year for a $125,000 Residential Mortgage Originator or Residential Mortgage Servicer Bond.
Questions? Call (855) 516-3348 or email [email protected].
How Are Minnesota Mortgage Bonds Filed?
Minnesota mortgage licensing is handled through NMLS for company/business Mortgage Originator, Mortgage Servicer, Mortgage Loan Originator, exempt entity registration, and Accelerated Mortgage Payment Provider records. The bond should match the legal name, NMLS ID, license type, and required bond amount shown on the Minnesota checklist.
Jet can provide the required bond document or electronic filing guidance after purchase. Before ordering, confirm the company or individual legal name, NMLS ID, license or registration type, bond amount, effective date, and whether the bond must be completed as an Electronic Surety Bond in NMLS.
NMLS Filing
The bond should match the legal name, NMLS ID, and Minnesota license or registration record.
MLO Coverage
Confirm whether MLOs are covered by the residential mortgage originator company bond or an exempt-entity registration path.
Bond Changes
Contact Jet before changing the legal name, DBA, NMLS ID, bond amount, license authority, servicer balance, originator volume, AMPP activity, or MLO sponsorship.
Minnesota Mortgage Bond Renewals, Changes, and Cancellations
Renewing Your Bond
Minnesota mortgage originator, mortgage servicer, and MLO licenses expire December 31 and are renewed through NMLS. Review the bond before renewal to confirm the legal name, NMLS ID, license type, MLO coverage, servicing balance, originator volume, and bond amount remain correct.
Changing the Bond
A bond change may be needed when the company changes its legal name, DBA, NMLS ID, bond amount, originator volume, servicer balance, mortgage authority, or MLO sponsorship structure.
Cancelling or Replacing Your Bond
Do not cancel a required Minnesota mortgage bond until replacement coverage is accepted or the license or registration no longer requires coverage. A bond gap can create licensing and NMLS problems.
What Does a Minnesota Mortgage License Bond Cover?
A Minnesota mortgage license bond is designed to protect the public and the state regulator, not the bonded mortgage company or mortgage loan originator. Residential mortgage originator bonds and residential mortgage servicer bonds are available for recovery of expenses, fines, and fees levied by the Commissioner, and for losses incurred by borrowers or aggrieved parties due to covered noncompliance or breach of contract related to regulated activity.
The residential mortgage originator bond must cover all mortgage loan originators who are employees or independent agents of the applicant. Residential mortgage servicer bonds or approved letters of credit must remain in effect during all periods of licensing.
A surety bond is different from insurance for the bonded party. If Jet pays a valid claim, the bonded principal is responsible for reimbursing Jet for the amount paid and related costs under the indemnity agreement.
How to Avoid Minnesota Mortgage Bond Claims
- Maintain continuous bond coverage for the correct Minnesota mortgage license, servicer license, AMPP license, or MLO coverage requirement.
- Match the bond to the exact legal name, DBA, NMLS ID, license type, registration type, and required bond amount.
- Use the correct closed Minnesota residential mortgage loan volume for the originator bond schedule.
- Use the correct Minnesota serviced unpaid principal balance for the servicer bond schedule.
- Confirm whether MLOs are covered by the company bond or are registered through an exempt entity path.
- Do not conduct Minnesota mortgage business without the correct license or registration.
- Do not advertise or represent loan terms in a misleading way.
- Do not charge unauthorized or prohibited fees.
- Maintain required books, records, mortgage call reports, renewals, consumer disclosures, and complaint documentation.
- Keep company, branch, servicer, AMPP, exempt entity, and MLO information current in NMLS.
- Contact Jet before cancelling, replacing, or changing the bond.
Want to Know More About Mortgage Bond Processes?
Popular Mortgage License Bond Guides
Minnesota Mortgage License Bond FAQ
What Minnesota mortgage bonds are covered on this page?
This page covers Minnesota Residential Mortgage Originator Bonds, Residential Mortgage Servicer Bonds, Accelerated Mortgage Payment Provider Bonds, Mortgage Loan Originator bond coverage, and Mortgage Broker, Lender and/or Servicer Bonds.
What is the Minnesota Residential Mortgage Originator Bond amount?
The Minnesota Residential Mortgage Originator Bond ranges from $125,000 to $300,000 based on closed Minnesota residential mortgage loans originated in the preceding year.
How much does a Minnesota Residential Mortgage Originator Bond cost?
Jet pricing for a $125,000 Minnesota Residential Mortgage Originator Bond is $625 for one year, $63 monthly, $1,094 for two years, or $1,563 for three years. Higher limits cost more.
What is the Minnesota Residential Mortgage Servicer Bond amount?
The Minnesota Residential Mortgage Servicer Bond is $125,000, $200,000, or $300,000 based on unpaid principal balance for Minnesota residential mortgage loans serviced during the preceding quarter.
How much does a Minnesota Residential Mortgage Servicer Bond cost?
Jet pricing for a $125,000 Minnesota Residential Mortgage Servicer Bond is $625 for one year, $63 monthly, $1,094 for two years, or $1,563 for three years. Higher limits cost more.
What is the Minnesota Accelerated Mortgage Payment Provider Bond amount?
The amount is determined by the Commissioner based on Minnesota client funds held or to be held. New businesses are generally required to maintain a bond of no less than $100,000 unless another amount or approved deposit applies.
Does a Minnesota mortgage loan originator need an individual bond?
Minnesota mortgage loan originators are commonly covered by the residential mortgage originator company bond, which must cover all mortgage loan originators who are employees or independent agents of the applicant. Confirm the NMLS checklist before purchasing separate coverage.
Are Minnesota mortgage bonds filed through NMLS?
Minnesota uses NMLS for Mortgage Originator, Mortgage Servicer, Mortgage Loan Originator, exempt entity, and Accelerated Mortgage Payment Provider licensing or registration. Follow the current Minnesota NMLS checklist for the exact bond filing steps.
Who should I contact for Minnesota mortgage bond help?
Call Jet at (855) 516-3348, email [email protected], or start a quote online for help choosing, purchasing, renewing, replacing, or changing a Minnesota mortgage license bond.
Get the Minnesota Mortgage Bond Required for Your License
Start by choosing the Minnesota bond that matches your license, registration, MLO coverage, mortgage volume, servicing portfolio, AMPP activity, or NMLS requirement. Jet will help with quoting, bond purchase, renewal support, and filing guidance when applicable.
Minnesota mortgage bond pricing starts at $499 for one year for a $100,000 AMPP bond and $625 for one year for a $125,000 Residential Mortgage Originator or Residential Mortgage Servicer Bond.
Call: (855) 516-3348
Email: [email protected]