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New Jersey mortgage license surety bonds
New Jersey Mortgage License Bonds
New Jersey residential mortgage lenders, correspondent residential mortgage lenders, residential mortgage brokers, exempt company registrants, registered depository institutions, and mortgage loan originators may need surety bond coverage for licensing or registration with the New Jersey Department of Banking and Insurance. Jet Insurance Company helps New Jersey mortgage professionals quote, purchase, renew, replace, and manage the bond required for their NMLS or state filing.
Use this page to compare New Jersey Residential Mortgage Lender, Correspondent Residential Mortgage Lender, Residential Mortgage Broker, Exempt Company Registration, Registered Depository Institution, Mortgage Loan Originator coverage, Mortgage Servicer, and Mortgage Broker, Lender and/or Servicer bond requirements, view Jet pricing, and get filing support for your New Jersey mortgage license.
Need help? Call (855) 516-3348 or email [email protected].
Last updated: July 2026. New Jersey mortgage bond requirements can change. Confirm the final license type, registration type, bond amount, filing method, and NMLS or New Jersey Department of Banking and Insurance checklist before filing.
New Jersey Mortgage Bond Quick Answers
Which bonds are covered?
This page covers New Jersey Residential Mortgage Lender Bonds, Correspondent Residential Mortgage Lender Bonds, Residential Mortgage Broker Bonds, Exempt Company Registration Bonds, Registered Depository Institution Bonds, Mortgage Loan Originator Bond Coverage, and Mortgage Servicer Bonds.
Who regulates these licenses?
The New Jersey Department of Banking and Insurance regulates business applicants under the New Jersey Residential Mortgage Lending Act and manages licensing through NMLS.
What are common limits?
Residential Mortgage Lender, Correspondent Residential Mortgage Lender, and Residential Mortgage Broker bonds start at $150,000 and can increase to $200,000, $250,000, or $300,000 based on closed loan volume.
How do I get help?
Call (855) 516-3348 or email [email protected].
Choose Your New Jersey Mortgage License Bond
The correct New Jersey mortgage bond depends on whether the business is licensed or registered as a Residential Mortgage Lender, Correspondent Residential Mortgage Lender, Residential Mortgage Broker, Exempt Company Registration, Registered Depository Institution, Mortgage Servicer, or another mortgage business type shown on the company’s NMLS checklist. New Jersey’s RMLA bond schedule is based on total closed loan volume for the report year.
Residential Mortgage Lender Bond
For New Jersey residential mortgage lenders that take applications, offer, negotiate, originate, acquire, hold, or service first or second residential mortgage loans on New Jersey property.
Initial bond limit: $150,000
Volume-based limits: $150,000, $200,000, $250,000, or $300,000
Starting price: $749 for one year or $75 monthly for the $150,000 bond.
Correspondent Residential Mortgage Lender Bond
For New Jersey correspondent residential mortgage lenders that take applications, offer, negotiate, originate, or acquire residential mortgage loans in the primary market, but do not regularly hold loans in portfolio or service loans for more than 90 days.
Initial bond limit: $150,000
Volume-based limits: $150,000, $200,000, $250,000, or $300,000
Starting price: $749 for one year or $75 monthly for the $150,000 bond.
Residential Mortgage Broker Bond
For New Jersey residential mortgage brokers that take applications for others, negotiate, place, sell, or offer to arrange residential mortgage loans in the primary market for compensation or expected compensation.
Initial bond limit: $150,000
Volume-based limits: $150,000, $200,000, $250,000, or $300,000
Starting price: $749 for one year or $75 monthly for the $150,000 bond.
Exempt Company Registration Bond
For New Jersey exempt company registration records when the RMLA bond form, NMLS checklist, or Department requirement calls for surety bond coverage.
Bond form includes: Exempt Company Registration
Common limits: Confirm the required amount in NMLS or with NJDOBI
Registered Depository Institution Bond
For New Jersey registered depository institution records when the official RMLA bond form, NMLS checklist, or Department requirement calls for a surety bond filing.
Bond form includes: Registered Depository Institution
Common limits: Confirm the required amount in NMLS or with NJDOBI
Mortgage Servicer Bond
For New Jersey mortgage servicers or RMLA-licensed mortgage servicers when the servicer license, registration, annual report, or NMLS checklist requires surety bond coverage.
Bond amount: Confirm current servicer requirement in NMLS
Common market reference: $100,000 and higher depending on servicer status and volume
Mortgage Loan Originator Bond Coverage
New Jersey’s official RMLA bond covers the business licensee, qualifying individual licensees, mortgage loan originators, employees, and agents for covered RMLA violations.
Common coverage: Covered through the company bond
Company bond limits: $150,000 to $300,000 for lender, correspondent lender, and broker RMLA bonds
Broker, Lender and/or Servicer Bond
For businesses whose NMLS checklist references broader New Jersey mortgage authority, RMLA bond coverage, servicing authority, MLO coverage, or registration bond requirements.
Common limits: $150,000 to $300,000 for RMLA lender, correspondent lender, and broker bonds
Starting price: $749 for one year for a $150,000 RMLA bond.
Important: New Jersey RMLA licensees must use the exact legal name shown on the NMLS record and application. NJDOBI states that the principal name on the bond must match the applicant’s full legal name exactly.
New Jersey 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 New Jersey Use | Monthly | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|
| $100,000 | Mortgage Servicer Bond or registration bond when required at this amount | $50 | $499 | $873 | $1,248 |
| $150,000 | Initial Residential Mortgage Lender, Correspondent Residential Mortgage Lender, or Residential Mortgage Broker Bond; closed loan volume up to $50,000,000 | $75 | $749 | $1,311 | $1,873 |
| $200,000 | RMLA bond for closed loan volume over $50,000,000 and up to $75,000,000 | $100 | $999 | $1,748 | $2,498 |
| $250,000 | RMLA bond for closed loan volume over $75,000,000 and up to $100,000,000 | $125 | $1,249 | $2,186 | $3,123 |
| $300,000 | RMLA bond for closed loan volume over $100,000,000 | $150 | $1,499 | $2,623 | $3,748 |
| $500,000 | Higher mortgage servicer or RMLA-licensed servicer registration bond amount when required | $250 | $2,499 | $4,373 | $6,248 |
Pricing shown is preferred-tier pricing and may vary based on underwriting approval, bond form, selected term, effective date, final required bond amount, license type, registration status, closed loan volume, servicing volume, and New Jersey Department of Banking and Insurance requirements.
Get New Jersey Mortgage Bond Pricing
Start a quote online and select the New Jersey bond that matches your license, registration, or NMLS checklist. Jet can help confirm whether you need a Residential Mortgage Lender Bond, Correspondent Residential Mortgage Lender Bond, Residential Mortgage Broker Bond, Exempt Company Registration Bond, Registered Depository Institution Bond, Mortgage Servicer Bond, or Mortgage Loan Originator coverage.
Questions? Call (855) 516-3348 or email [email protected].
New Jersey Mortgage Bond Requirements
New Jersey requires business applicants seeking licensure under the Residential Mortgage Lending Act to create an NMLS record, obtain a unique identifier, and submit the required company filing through NMLS. The official New Jersey RMLA bond form includes Residential Mortgage Lender, Correspondent Residential Mortgage Lender, Residential Mortgage Broker, Exempt Company Registration, and Registered Depository Institution.
For Residential Mortgage Lender, Correspondent Residential Mortgage Lender, and Residential Mortgage Broker licensees, the bond amount starts at $150,000. After the annual report, the bond requirement is based on total closed loan volume for the report year.
| New Jersey License, Registration, or Authority | Bond Amount | How the Amount Works | Quote |
|---|---|---|---|
| Residential Mortgage Lender | $150,000 to $300,000 | Initial minimum $150,000. Amount increases after annual report based on total closed loan volume. | Get Quote |
| Correspondent Residential Mortgage Lender | $150,000 to $300,000 | Initial minimum $150,000. Amount increases after annual report based on total closed loan volume. | Get Quote |
| Residential Mortgage Broker | $150,000 to $300,000 | Initial minimum $150,000. Amount increases after annual report based on total closed loan volume. | Get Quote |
| Exempt Company Registration | Confirm in NMLS or with NJDOBI | The official RMLA bond form includes Exempt Company Registration. Use the amount shown on the company’s NMLS checklist or Department instructions. | Get Help |
| Registered Depository Institution | Confirm in NMLS or with NJDOBI | The official RMLA bond form includes Registered Depository Institution. Use the amount shown on the company’s NMLS checklist or Department instructions. | Get Help |
| Mortgage Servicer | Confirm current NMLS servicer checklist | New Jersey mortgage servicer annual report data is used in calculating the servicer surety bond requirement. Confirm the current amount and form before ordering. | Get Quote |
| Mortgage Loan Originator Coverage | Covered through the company bond when eligible | The official RMLA bond protects covered claims involving qualifying individual licensees, mortgage loan originators, employees, and agents. | Get Help |
| Mortgage Broker, Lender and/or Servicer | $150,000 to $300,000 for RMLA lender, correspondent lender, and broker bonds; servicer amount varies by checklist | Use the RMLA closed loan volume schedule for lender, correspondent lender, and broker bonds. Use the current NMLS checklist for servicer requirements. | Get Quote |
Filing note: New Jersey mortgage licensing and registration are handled through NMLS, but the Department’s requirement pages also reference original, fully executed surety bonds. Confirm the exact bond form, original filing requirement, electronic surety bond status, and delivery instructions on the current New Jersey NMLS checklist before ordering or filing the bond.
New Jersey Mortgage Bond Amounts
New Jersey’s RMLA bond amount for Residential Mortgage Lender, Correspondent Residential Mortgage Lender, and Residential Mortgage Broker licensees is based on total closed loan volume for the report year. If the surety bond coverage is deficient after the annual report is submitted, the licensee has 30 days from the date of submission to acquire the appropriate amount of coverage and provide original documentation to the Department.
| Total Closed Loan Volume | Required RMLA Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| $50,000,000 or less | $150,000 | $75 | $749 |
| More than $50,000,000 and up to $75,000,000 | $200,000 | $100 | $999 |
| More than $75,000,000 and up to $100,000,000 | $250,000 | $125 | $1,249 |
| More than $100,000,000 | $300,000 | $150 | $1,499 |
Annual report note: The RMLA surety bond schedule applies to Residential Mortgage Lenders, Correspondent Residential Mortgage Lenders, and Residential Mortgage Brokers. Servicer bond requirements should be confirmed against the mortgage servicer NMLS checklist and Department instructions.
New Jersey Residential Mortgage Lender Bond
The New Jersey Residential Mortgage Lender Bond applies to business entities that take residential mortgage loan applications, offer, negotiate, originate, acquire, or service residential mortgage loans involving first or second mortgage loans on New Jersey property.
License Type
New Jersey Residential Mortgage Lender License.
Bond Limits
$150,000 initial bond; $150,000, $200,000, $250,000, or $300,000 based on total closed loan volume.
Starting Price
$749 for one year or $75 monthly for the $150,000 bond.
Use this option when the New Jersey or NMLS checklist references Residential Mortgage Lender authority, funded loans, held loans, residential mortgage lending, or a New Jersey Residential Mortgage Lender Bond.
New Jersey Correspondent Residential Mortgage Lender Bond
The New Jersey Correspondent Residential Mortgage Lender Bond applies to business entities that take residential mortgage loan applications, offer, negotiate, originate, or acquire residential mortgage loans in the primary market, but do not regularly hold mortgage loans in portfolio or service mortgage loans for more than 90 days.
License Type
New Jersey Correspondent Residential Mortgage Lender License.
Bond Limits
$150,000 initial bond; $150,000, $200,000, $250,000, or $300,000 based on total closed loan volume.
Starting Price
$749 for one year or $75 monthly for the $150,000 bond.
Use this option when the New Jersey or NMLS checklist references Correspondent Residential Mortgage Lender authority, correspondent lender activity, acquired loans, or a New Jersey Correspondent Residential Mortgage Lender Bond.
New Jersey Residential Mortgage Broker Bond
The New Jersey Residential Mortgage Broker Bond applies to business entities, including sole proprietorships, that for compensation or expected compensation take residential mortgage loan applications for others, negotiate, place, sell, or offer to arrange residential mortgage loans in the primary market for others.
License Type
New Jersey Residential Mortgage Broker License.
Bond Limits
$150,000 initial bond; $150,000, $200,000, $250,000, or $300,000 based on total closed loan volume.
Starting Price
$749 for one year or $75 monthly for the $150,000 bond.
Use this option when the New Jersey or NMLS checklist references Residential Mortgage Broker authority, brokered loans, arranging loans, negotiating loans, or a New Jersey Residential Mortgage Broker Bond.
New Jersey Exempt Company Registration Bond
The official New Jersey RMLA bond form includes Exempt Company Registration as an available license or registration type. The required bond amount may depend on the company’s NMLS checklist, registration status, activities, employees, MLO relationships, and Department instructions.
Registration Type
New Jersey Exempt Company Registration.
Bond Amount
Use the amount shown by NMLS or the Department.
Jet Help
Jet can help confirm the bond title, amount, and filing instructions before purchase.
Use this option when the NMLS checklist or Department instructions specifically reference New Jersey Exempt Company Registration bond coverage.
New Jersey Registered Depository Institution Bond
The official New Jersey RMLA bond form also includes Registered Depository Institution as an available registration type. The required bond amount should be confirmed against the company’s NMLS checklist and New Jersey Department of Banking and Insurance instructions.
Registration Type
New Jersey Registered Depository Institution.
Bond Amount
Use the amount shown by NMLS or the Department.
Jet Help
Jet can help quote the bond once the required amount and filing instructions are confirmed.
Use this option when the NMLS checklist or Department instructions specifically reference Registered Depository Institution bond coverage under the RMLA bond form.
New Jersey Mortgage Servicer Bond
New Jersey mortgage servicers and RMLA-licensed mortgage servicers should confirm their current surety bond requirement through NMLS and the New Jersey Department of Banking and Insurance. New Jersey servicer annual report guidance states that mortgage servicing volume is used in the calculation of the servicer surety bond requirement and annual assessment.
License or Registration Type
New Jersey Mortgage Servicer License or RMLA-Licensed Mortgage Servicer Registration.
Bond Amount
Confirm the amount in NMLS or with NJDOBI before ordering.
Starting Reference
Jet pricing for a $100,000 bond is $499 for one year or $50 monthly, subject to the final required amount.
Use this option when the New Jersey or NMLS checklist references mortgage servicer licensing, RMLA-licensed mortgage servicer registration, servicing volume, or a servicer surety bond filing.
New Jersey Mortgage Loan Originator Bond Coverage
The official New Jersey RMLA bond form protects covered claims involving the business licensee, qualifying individual licensees, mortgage loan originators, employees, and agents. Mortgage loan originators must create an NMLS record and apply through NMLS, and New Jersey MLO coverage is commonly tied to the licensed company’s RMLA bond.
License Type
New Jersey Mortgage Loan Originator License.
How Coverage Works
Coverage is commonly provided through the licensed or registered company’s RMLA bond.
Company Bond Limits
$150,000 to $300,000 for RMLA lender, correspondent lender, and broker bonds.
Before ordering separate MLO coverage, confirm whether the MLO is covered under the licensed company’s New Jersey RMLA bond and company sponsorship relationship.
New Jersey Mortgage Broker, Lender and/or Servicer Bond
The New Jersey Mortgage Broker, Lender and/or Servicer Bond option is for mortgage businesses whose NMLS or Department requirement references broader mortgage authority, RMLA bond coverage, servicer bond coverage, MLO coverage, or a registration bond requirement.
Authority Type
New Jersey residential mortgage lender, correspondent residential mortgage lender, residential mortgage broker, exempt company, registered depository institution, mortgage servicer, or MLO sponsor authority.
Common Bond Limits
$150,000 to $300,000 for RMLA lender, correspondent lender, and broker bonds; servicer and registration amounts should be confirmed in NMLS.
Starting Price
$749 for one year for a $150,000 RMLA bond, or $499 for one year for a $100,000 servicer bond if that is the required amount.
Use this option when the New Jersey or NMLS requirement references mortgage broker, mortgage lender, correspondent lender, mortgage servicer, MLO coverage, registration coverage, or combined mortgage activity rather than a narrower bond title.
New Jersey Mortgage Bond Comparison
New Jersey mortgage bond requirements depend on the company’s license type, RMLA registration type, closed loan volume, servicing activity, and whether MLO coverage is handled through the company bond.
| Requirement | Regulator | Bond Amount | Main Filing Point |
|---|---|---|---|
| Residential Mortgage Lender Bond | New Jersey Department of Banking and Insurance | $150,000 to $300,000 based on closed loan volume | NMLS company license record and Department instructions |
| Correspondent Residential Mortgage Lender Bond | New Jersey Department of Banking and Insurance | $150,000 to $300,000 based on closed loan volume | NMLS company license record and Department instructions |
| Residential Mortgage Broker Bond | New Jersey Department of Banking and Insurance | $150,000 to $300,000 based on closed loan volume | NMLS company license record and Department instructions |
| Exempt Company Registration Bond | New Jersey Department of Banking and Insurance | As required by NMLS or NJDOBI | NMLS registration record and Department instructions |
| Registered Depository Institution Bond | New Jersey Department of Banking and Insurance | As required by NMLS or NJDOBI | NMLS registration record and Department instructions |
| Mortgage Servicer Bond | New Jersey Department of Banking and Insurance | Confirm current amount in NMLS or with NJDOBI | NMLS servicer license or registration record |
| Mortgage Loan Originator Coverage | New Jersey Department of Banking and Insurance | Covered through company bond when eligible | NMLS MLO license and company sponsorship record |
How New Jersey Mortgage Bond Quotes Work
1
Confirm the New Jersey License
Identify whether the NMLS checklist references Residential Mortgage Lender, Correspondent Residential Mortgage Lender, Residential Mortgage Broker, Exempt Company Registration, Registered Depository Institution, Mortgage Servicer, or MLO coverage.
2
Confirm the Bond Amount
Use $150,000 for a new RMLA lender, correspondent lender, or broker bond, then confirm whether closed loan volume requires $200,000, $250,000, or $300,000 after annual reporting.
3
Buy and File
After purchase, Jet provides the bond or filing guidance based on the current New Jersey Department of Banking and Insurance and NMLS process.
Need a New Jersey Mortgage License Bond?
Jet can help you choose the correct New Jersey Residential Mortgage Lender Bond, Correspondent Residential Mortgage Lender Bond, Residential Mortgage Broker Bond, Exempt Company Registration Bond, Registered Depository Institution Bond, Mortgage Servicer Bond, Mortgage Loan Originator coverage, or Mortgage Broker, Lender and/or Servicer Bond, review pricing, and get the bond issued for licensing or registration.
New Jersey mortgage bond pricing starts at $749 for one year for the $150,000 RMLA bond. Higher bond limits are available based on closed loan volume or final NMLS requirements.
Questions? Call (855) 516-3348 or email [email protected].
How Are New Jersey Mortgage Bonds Filed?
New Jersey business entity applicants under the Residential Mortgage Lending Act must create a company record in NMLS, obtain a unique identifier, and file the required Form MU1 through NMLS. Each business entity applicant must also have a Qualified Individual, and each individual originating residential mortgage loans must be separately licensed as a Mortgage Loan Originator through NMLS.
NJDOBI’s lender, correspondent lender, and broker requirement pages reference an original, fully executed surety bond furnished by a surety company authorized to conduct business in New Jersey. The bond should match the company’s full legal name exactly as shown on the application and NMLS record.
NMLS Filing
The bond should match the legal name, NMLS ID, New Jersey license or registration record, and required bond amount.
Original Bond Documentation
Confirm whether the current checklist requires an original bond, electronic surety bond, rider, or other documentation before ordering.
Bond Changes
Contact Jet before changing the legal name, DBA, NMLS ID, bond amount, license type, registration status, closed loan volume, servicing volume, or MLO relationship.
New Jersey Mortgage Bond Renewals, Changes, and Cancellations
Renewing Your Bond
Keep the New Jersey mortgage bond active for all periods of licensing or registration. Review the bond before renewal to confirm the legal name, NMLS ID, license type, registration type, closed loan volume, servicing volume, MLO coverage, and bond amount remain correct.
Changing the Bond
A bond increase may be required after the annual report if closed loan volume changes. A bond change may also be needed after a legal name, DBA, NMLS ID, license authority, registration status, servicer status, or MLO relationship change.
Cancelling or Replacing Your Bond
The official New Jersey RMLA bond form allows cancellation by filing 30 days’ written notice with the commissioner. Do not cancel a required New Jersey mortgage bond until replacement coverage is accepted or the license or registration no longer requires coverage.
What Does a New Jersey Mortgage License Bond Cover?
A New Jersey mortgage license bond is designed to protect the State of New Jersey and persons injured by covered wrongful acts, defaults, omissions, fraud, or misrepresentation. The official RMLA bond form covers the business licensee, qualifying individual licensees, mortgage loan originators, employees, and agents under the New Jersey Residential Mortgage Lending Act.
The RMLA bond requires the licensee to faithfully comply with New Jersey mortgage law and rules, avoid wrongful acts, defaults, omissions, fraud, or misrepresentation, perform obligations honestly, fairly, equitably, and efficiently when engaging in first or second mortgage lending business in New Jersey, and pay money due to the State under the Act.
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 New Jersey Mortgage Bond Claims
- Maintain continuous bond coverage for the correct New Jersey RMLA license, registration, MLO coverage, or mortgage servicer bond requirement.
- Match the bond to the exact full legal name, DBA, NMLS ID, license or registration type, and required bond amount.
- Use the correct closed loan volume from the annual report to determine the RMLA bond amount after reporting.
- Increase the bond within 30 days if annual report data shows coverage is deficient.
- Confirm whether MLOs, qualifying individual licensees, employees, and agents are covered under the company bond before purchasing separate coverage.
- Do not conduct New Jersey residential mortgage lending, correspondent lending, brokering, servicing, or origination activity without the correct license, registration, or exemption.
- Do not advertise or represent loan terms in a false, misleading, or deceptive way.
- Do not charge unauthorized or prohibited fees.
- Maintain required books, records, annual reports, mortgage call reports, renewals, servicing records, consumer disclosures, and complaint documentation.
- Keep company, branch, qualified individual, sponsorship, servicing, and MLO information current in NMLS and with the Department.
- Contact Jet before cancelling, replacing, or changing the bond.
Want to Know More About Mortgage Bond Processes?
Popular Mortgage License Bond Guides
New Jersey Mortgage License Bond FAQ
What New Jersey mortgage bonds are covered on this page?
This page covers New Jersey Residential Mortgage Lender Bonds, Correspondent Residential Mortgage Lender Bonds, Residential Mortgage Broker Bonds, Exempt Company Registration Bonds, Registered Depository Institution Bonds, Mortgage Servicer Bonds, Mortgage Loan Originator bond coverage, and Mortgage Broker, Lender and/or Servicer Bonds.
What is the New Jersey Residential Mortgage Lender Bond amount?
The New Jersey Residential Mortgage Lender Bond starts at $150,000. After annual reporting, the amount can be $150,000, $200,000, $250,000, or $300,000 based on total closed loan volume.
How much does a New Jersey Residential Mortgage Lender Bond cost?
Jet pricing for a $150,000 New Jersey Residential Mortgage Lender Bond is $749 for one year, $75 monthly, $1,311 for two years, or $1,873 for three years. Higher limits cost more.
What is the New Jersey Correspondent Residential Mortgage Lender Bond amount?
The New Jersey Correspondent Residential Mortgage Lender Bond starts at $150,000. After annual reporting, the amount can be $150,000, $200,000, $250,000, or $300,000 based on total closed loan volume.
What is the New Jersey Residential Mortgage Broker Bond amount?
The New Jersey Residential Mortgage Broker Bond starts at $150,000. After annual reporting, the amount can be $150,000, $200,000, $250,000, or $300,000 based on total closed loan volume.
How much does a New Jersey Residential Mortgage Broker Bond cost?
Jet pricing for a $150,000 New Jersey Residential Mortgage Broker Bond is $749 for one year, $75 monthly, $1,311 for two years, or $1,873 for three years. Higher limits cost more.
What is the New Jersey RMLA bond amount after annual reporting?
The RMLA bond amount is $150,000 for closed loan volume of $50,000,000 or less, $200,000 for volume up to $75,000,000, $250,000 for volume up to $100,000,000, and $300,000 for volume over $100,000,000.
Does New Jersey require a mortgage servicer bond?
New Jersey mortgage servicers and RMLA-licensed mortgage servicers should confirm the current servicer bond amount through NMLS and NJDOBI. Servicer annual report data is used in calculating the servicer surety bond requirement.
Does a New Jersey mortgage loan originator need an individual bond?
The official New Jersey RMLA bond form covers the business licensee, qualifying individual licensees, mortgage loan originators, employees, and agents. Confirm the MLO’s company sponsorship and NMLS record before purchasing separate coverage.
Are New Jersey mortgage bonds filed through NMLS?
New Jersey business applicants under the RMLA must create an NMLS record and file through NMLS. NJDOBI’s requirement pages also reference an original, fully executed surety bond, so confirm the current NMLS checklist and Department instructions before filing.
Who should I contact for New Jersey 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 New Jersey mortgage license bond.
Get the New Jersey Mortgage Bond Required for Your License
Start by choosing the New Jersey bond that matches your license, registration, company record, MLO coverage, closed loan volume, servicing volume, annual report requirement, or NMLS checklist. Jet will help with quoting, bond purchase, renewal support, and filing guidance when applicable.
New Jersey mortgage bond pricing starts at $749 for one year or $75 monthly for the $150,000 Residential Mortgage Lender, Correspondent Residential Mortgage Lender, or Residential Mortgage Broker Bond.
Call: (855) 516-3348
Email: [email protected]