Notary Bond Application:
X
Jet Insurance Company provides surety bonds for mortgage brokers, mortgage lenders, mortgage servicers, mortgage loan originators, correspondent lenders, finance lenders, finance brokers, and other state-regulated mortgage professionals.
Get your bond directly from Jet, review monthly and annual payment options, and receive help with the filing process when your bond is eligible for electronic filing through NMLS.
To quote your mortgage license bond, have your state, license type, legal business name, NMLS ID, required bond amount, and desired effective date ready. If you are unsure of the bond amount, Jet can help match the bond to your state licensing requirement.
A mortgage license bond is a state-required surety bond that helps a mortgage professional qualify for or maintain a license. The bond is a three-party agreement between the licensed mortgage professional, the government regulator requiring the bond, and the surety company backing the guarantee.
The bond does not replace a license, NMLS record, background check, education requirement, application fee, or state approval. Instead, it gives the regulator a financial guarantee that money may be available if the licensee violates applicable mortgage laws, licensing rules, or consumer protection requirements.
Bond requirements vary by state, license type, loan volume, servicing volume, and business activity. The most common mortgage and finance licensees that may need a surety bond include:
Mortgage brokers connect borrowers with lenders. They typically arrange, negotiate, or assist with residential mortgage loan transactions without using their own funds to make the loan.
Mortgage lenders fund or make residential mortgage loans. Lender bond limits are often based on loan volume or other state-specific licensing factors.
Mortgage servicers manage borrower payments, statements, escrow accounts, payoff information, and other post-closing loan administration responsibilities.
A mortgage loan originator is generally an individual who takes a residential mortgage loan application and offers or negotiates residential mortgage loan terms for compensation or gain.
Correspondent lenders may close loans in their own name and later sell those loans to investors. Several states require a separate correspondent lender bond or a mortgage lender bond.
Some mortgage and finance pages include finance lender, finance broker, consumer lender, loan company, or similar bonds when those licenses are managed through NMLS or another state finance regulator.
Jet can help identify the correct mortgage license bond based on your state, license type, NMLS record, and required bond amount.
Find the Bond for My LicenseThe cost of a mortgage license bond is a small percentage of the required bond amount. Pricing depends on the state, bond limit, license type, selected term, and underwriting review.
Mortgage bond limits can range from smaller individual or company bond amounts to larger lender and servicer bonds. Some states use a flat bond amount, while others calculate the limit from loan volume, servicing volume, number of sponsored MLOs, or prior year activity.
California Residential Mortgage Lender/Servicer Bond pricing shown below is based on 0.5% of the bond limit for the 1-year term.
| Aggregate Loan Amount | Bond Limit | Monthly | 1-Year | 2-Years |
|---|---|---|---|---|
| $0 to $50,000,000 | $50,000 | $25 | $250 | $438 |
| $50,000,001 to $500,000,000 | $100,000 | $50 | $500 | $875 |
| Over $500,000,001 | $200,000 | $100 | $1,000 | $1,750 |
| Total Loan Volume | Bond Limit | Monthly | 1-Year | 2-Years |
|---|---|---|---|---|
| $0 to $5 million | $25,000 | $9 | $94 | $164 |
| $5 million to $20 million | $50,000 | $19 | $188 | $328 |
| $20 million to $50 million | $75,000 | $28 | $281 | $492 |
| $50 million to $100 million | $100,000 | $38 | $375 | $656 |
| Over $100 million | $150,000 | $56 | $563 | $984 |
Select your state and license type.
Choose the mortgage broker, lender, servicer, mortgage loan originator, correspondent lender, finance lender, finance broker, or loan company bond required for your license.
Enter your business and license information.
Your bond must match the legal name, business name, NMLS ID, license number, state, and required bond amount.
Review your Jet bond price.
Many applicants receive an online quote. Larger limits or more complex accounts may be reviewed by a Jet underwriter.
Purchase the bond.
Choose from the available monthly, annual, or multi-year payment options when offered.
Grant Jet authority in NMLS when required.
For eligible NMLS electronic surety bonds, grant authority to Jet Insurance Company, NAIC #16379, so Jet can create, execute, deliver, or maintain the bond record.
Jet completes the proper filing step.
When the bond is eligible for electronic filing, Jet can deliver the bond through NMLS. If the state requires a different filing method, Jet will provide the required bond document or filing instructions.
After you submit your quote request, Jet confirms the license type, bond amount, effective date, and filing method. If the bond is eligible for NMLS electronic filing, Jet will file after you grant authority to Jet Insurance Company, NAIC #16379.
If the state requires a paper bond, wet signature, continuation certificate, or other filing method, Jet will provide the required bond document or filing instructions.
Many mortgage company license bonds are managed as Electronic Surety Bonds through the Nationwide Multistate Licensing System, commonly known as NMLS. NMLS allows authorized surety companies and surety bond producers to create, execute, deliver, and maintain eligible company bond records for state licensing.
Electronic filing does not apply to every bond. NMLS states that ESB currently applies to company bonds that states have adopted for electronic processing. Branch and individual bonds are not in ESB scope at this time.
For eligible electronic surety bonds, Jet cannot file the bond until the licensee grants authority in NMLS. Search for Jet Insurance Company and select NAIC #16379 as the surety company. Once authority is granted and the bond is issued, Jet can complete the eligible filing.
Start with a Jet quote, purchase the bond, then grant Jet authority in NMLS if your bond is eligible for electronic filing.
Jet can issue a replacement bond, but the prior bond cancellation rules and state timing requirements should be reviewed before switching.
Contact Jet if your legal name, address, NMLS ID, license number, or bond amount changes so the bond can be updated correctly.
For additional filing guidance, visit Jet's Electronic Surety Bond Filing Through the NMLS guide.
A mortgage license bond is designed to protect the public and the state regulator, not the mortgage business. If a licensee violates applicable mortgage laws or licensing rules, a consumer or regulator may seek payment from the bond.
Common issues that can lead to complaints, disciplinary action, or bond claims include:
For more information about claim causes and the claim process, visit Jet's Mortgage License Bond Claims Guide.
Many NMLS-managed company and individual licenses renew annually from November 1 through December 31. State-specific renewal checklists may add requirements.
Some states require a continuation certificate or other evidence that the bond remains active. Jet can provide renewal documentation when required.
Cancellation rules depend on the state and bond form. Mortgage license bonds commonly include a cancellation notice period that can range from 30 to 90 days.
If you replace your bond with another surety, make sure the new bond is accepted before the old bond cancels. A bond gap can create license problems.
Select a state-specific page or start a quote to match the correct mortgage, finance, lender, broker, servicer, MLO, or related license bond to your application.
If your state or license is not listed above, start with Jet's quote page and the team will help match the correct bond to your license.
No. Errors and omissions insurance is designed to protect the business from covered professional liability claims. A mortgage license bond protects the public and regulator. If the surety pays a valid bond claim, the licensee must reimburse the surety.
It depends on the state. Some states require a company bond that covers sponsored mortgage loan originators. Others require individual MLO bonds or separate bonds by license type. Check your NMLS checklist and state regulator requirements.
Jet can file eligible company electronic surety bonds through NMLS after the licensee grants authority to Jet Insurance Company. Electronic filing does not apply to every bond, and NMLS states that branch and individual bonds are not currently in ESB scope.
The bond should match the legal name, business name, license type, NMLS ID, license number, bond amount, and state-required obligee information. Incorrect information can delay filing or licensing approval.
Jet Insurance Company NAIC number is 16379. Use this number when granting Jet authority as your surety company in NMLS.
Many mortgage license bond quotes can be issued online. Larger bond limits, complex licensing situations, or accounts that require underwriter review may take additional time.
If your bond cancels and a replacement bond is not filed in time, the state regulator may suspend, revoke, or refuse to renew the license. Cancellation notice periods vary by bond form and state.
Renew before the license or bond term expires. Many NMLS-managed company and individual license renewals run from November 1 through December 31 each year, although state-specific requirements may apply.
Jet Insurance Company makes it simple to quote, purchase, renew, and file eligible mortgage license bonds. Start online or call Jet for help matching your license type to the correct bond.