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Ohio mortgage license surety bonds
Ohio Mortgage License Bonds
Ohio mortgage lenders, mortgage brokers, mortgage servicers, mortgage loan originators, exempt entities, third party processing and/or underwriting companies, and related mortgage businesses may need surety bond coverage for licensing, exemption, or registration with the Ohio Division of Financial Institutions. Jet Insurance Company helps Ohio mortgage professionals quote, purchase, renew, replace, and manage the bond required for their Ohio Residential Mortgage Lending Act license, registration, exemption, or NMLS filing.
Use this page to compare Ohio Mortgage Lender, Mortgage Broker, Mortgage Servicer, Mortgage Loan Originator, Exempt Entity MLO, Third Party Processing and/or Underwriting Company, and Mortgage Broker, Lender and/or Servicer bond requirements, view Jet pricing, and get filing support for your Ohio mortgage license.
Need help? Call (855) 516-3348 or email [email protected].
Last updated: July 2026. Ohio mortgage bond requirements can change. Confirm the final license type, registration type, exemption type, bond amount, branch count, MLO coverage, filing method, and Ohio Division of Financial Institutions or NMLS checklist before filing.
Ohio Mortgage Bond Quick Answers
Which bonds are covered?
This page covers Ohio Mortgage Lender Bonds, Mortgage Broker Bonds, Mortgage Servicer Bonds, Mortgage Loan Originator Bond Coverage, Exempt Entity MLO Bonds, Third Party Processing and/or Underwriting Company Bonds, and Mortgage Broker, Lender and/or Servicer Bonds.
Who regulates these licenses?
The Ohio Division of Financial Institutions regulates mortgage lenders, mortgage brokers, mortgage servicers, mortgage loan originators, registrants, licensees, and letters of exemption under the Ohio Residential Mortgage Lending Act.
What are common limits?
Ohio mortgage lender and broker bonds start at $50,000, plus $10,000 per additional location after the first, and are capped at $150,000. Exclusive mortgage servicers need at least $150,000. Loan processing or underwriting company bonds are calculated in the same manner as registrant bonds and capped at $150,000.
How do I get help?
Call (855) 516-3348 or email [email protected].
Choose Your Ohio Mortgage License Bond
The correct Ohio mortgage bond depends on whether the business is registered as a mortgage lender, mortgage broker, mortgage servicer, or whether a mortgage loan originator is associated with a registrant, an entity holding a valid Ohio letter of exemption, or a loan processing or underwriting company. Ohio’s bond amount is generally based on 0.5% of the aggregate loan amount of residential mortgage loans originated in the immediately preceding calendar year, subject to minimums, branch-location additions, and statutory caps.
Mortgage Lender Bond
For Ohio mortgage lenders registered under the Ohio Residential Mortgage Lending Act to make or originate residential mortgage loans.
Bond limits: $50,000 to $150,000
Amount basis: 0.5% of prior-year Ohio residential mortgage loan volume, with location-based minimum additions
Starting price: $249 for one year or $25 monthly for the $50,000 bond.
Mortgage Broker Bond
For Ohio mortgage brokers registered under the Ohio Residential Mortgage Lending Act to broker, arrange, or negotiate residential mortgage loans.
Bond limits: $50,000 to $150,000
Amount basis: 0.5% of prior-year Ohio residential mortgage loan volume, with location-based minimum additions
Starting price: $249 for one year or $25 monthly for the $50,000 bond.
Mortgage Servicer Bond
For Ohio registrants engaged exclusively in mortgage servicing under the Ohio Residential Mortgage Lending Act.
Minimum bond limit: $150,000
Amount basis: Exclusive mortgage servicer statutory minimum
Starting price: $749 for one year or $75 monthly for the $150,000 bond.
Third Party Processing and/or Underwriting Company Bond
For Ohio loan processing or underwriting companies that provide loan processing or underwriting services to mortgage lenders or mortgage brokers and need a letter of exemption or company bond coverage.
Bond limits: Generally $50,000 to $150,000, depending on the applicable aggregate bond calculation
Amount basis: 0.5% of prior-year aggregate residential mortgage loans originated, capped at $150,000
Starting price: $249 for one year or $25 monthly for the $50,000 bond.
Mortgage Loan Originator Bond Coverage
For Ohio mortgage loan originators employed by or associated with a registrant, or associated with an entity holding a valid Ohio letter of exemption.
Common coverage: Covered by the registrant, exempt entity, or loan processing/underwriting company bond when eligible
Exempt entity MLO range: $50,000 to $100,000
Exempt Entity MLO Bond
For Ohio mortgage loan originators employed by or associated with a person or entity holding a valid letter of exemption, unless the exempt entity provides eligible bond coverage on the MLO’s behalf.
Bond limits: $50,000 to $100,000
Amount basis: 0.5% of prior-year residential mortgage loans originated by the licensee, capped at $100,000
Starting price: $249 for one year or $25 monthly for the $50,000 bond.
Broker, Lender and/or Servicer Bond
For businesses whose NMLS or Ohio Division of Financial Institutions requirement references mortgage broker, mortgage lender, mortgage servicer, RMLA registrant, MLO, exempt entity, or loan processing/underwriting company coverage.
Common limits: $50,000 to $150,000 depending on activity, volume, branch count, servicing status, and exemption type
Starting price: $249 for one year for a $50,000 bond.
Important: Ohio mortgage lenders and brokers have a $50,000 minimum bond, plus $10,000 for each location after the first, subject to the statutory bond calculation and cap. Exclusive mortgage servicers have a $150,000 minimum bond. Loan processing or underwriting companies are bonded in the same manner as registrants when required. Confirm whether each MLO or processor/underwriter is covered by the registrant, exempt entity, or loan processing/underwriting company bond before purchasing separate coverage.
Ohio 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 Ohio Use | Monthly | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|
| $50,000 | Mortgage Lender, Mortgage Broker, Exempt Entity MLO, or Third Party Processing/Underwriting Company Bond minimum | $25 | $249 | $436 | $623 |
| $60,000 | Mortgage lender or broker with one additional Ohio location at minimum volume | $30 | $299 | $523 | $748 |
| $75,000 | Intermediate mortgage lender, broker, processor/underwriter, or branch-adjusted bond amount | $38 | $375 | $656 | $938 |
| $100,000 | Higher-volume lender, broker, processing/underwriting company, or maximum Exempt Entity MLO Bond amount | $50 | $499 | $873 | $1,248 |
| $150,000 | Maximum lender, broker, or processing/underwriting company bond amount, or exclusive Mortgage Servicer Bond minimum | $75 | $749 | $1,311 | $1,873 |
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 type, exemption type, MLO coverage, branch count, prior-year residential mortgage loan volume, servicing status, and Ohio Division of Financial Institutions requirements.
Get Ohio Mortgage Bond Pricing
Start a quote online and select the Ohio bond that matches your license, registration, exemption, or NMLS checklist. Jet can help confirm whether you need a Mortgage Lender Bond, Mortgage Broker Bond, Mortgage Servicer Bond, Mortgage Loan Originator coverage, Exempt Entity MLO Bond, Third Party Processing and/or Underwriting Company Bond, or Mortgage Broker, Lender and/or Servicer Bond.
Questions? Call (855) 516-3348 or email [email protected].
Ohio Mortgage Bond Requirements
Ohio requires a person to obtain a certificate of registration before transacting business as a mortgage lender, mortgage servicer, or mortgage broker in Ohio. The Ohio Residential Mortgage Lending Act also requires mortgage loan originators to be licensed and employed by or associated with a registrant or an entity holding a valid letter of exemption.
Ohio registrants must obtain and maintain a corporate surety bond in favor of the Superintendent of Financial Institutions. The bond is for the exclusive benefit of any buyer injured by a violation of Ohio’s mortgage law or rules by the registrant, an employee, or a mortgage loan originator employed by or associated with the registrant.
Ohio also recognizes loan processing or underwriting companies that provide processing or underwriting services to mortgage lenders or brokers under contract. When required, a loan processing or underwriting company may obtain a surety bond in the same manner as a registrant, with one aggregate bond covering the company regardless of the number of exempted office locations.
| Ohio License, Registration, or Authority | Bond Amount | How the Amount Works | Quote |
|---|---|---|---|
| Mortgage Lender | $50,000 to $150,000 | 0.5% of prior-year aggregate Ohio residential mortgage loan amount, not exceeding $150,000. Minimum $50,000 plus $10,000 for each location after the first. | Get Quote |
| Mortgage Broker | $50,000 to $150,000 | 0.5% of prior-year aggregate Ohio residential mortgage loan amount, not exceeding $150,000. Minimum $50,000 plus $10,000 for each location after the first. | Get Quote |
| Mortgage Servicer | Minimum $150,000 if exclusively servicing | Registrants engaged exclusively in mortgage servicing must maintain at least a $150,000 bond. | Get Quote |
| Third Party Processing and/or Underwriting Company | Generally $50,000 to $150,000 | Bonded in the same manner as a registrant or qualified exempt entity when required. The rule uses 0.5% of aggregate residential mortgage loans originated in the prior calendar year, capped at $150,000. | Get Quote |
| Mortgage Loan Originator Coverage | Covered by the registrant, exempt entity, or processing/underwriting company bond when eligible | MLOs covered by a corporate surety bond obtained by the registrant, exempt entity, or loan processing/underwriting company on the licensee’s behalf are not required to obtain an individual bond. | Get Help |
| Exempt Entity MLO Bond | $50,000 to $100,000 | For an MLO employed by or associated with a valid letter-of-exemption entity when required. Amount is 0.5% of prior-year aggregate residential mortgage loan amount, capped at $100,000, with a $50,000 minimum. | Get Quote |
| Mortgage Broker, Lender and/or Servicer | $50,000 to $150,000 | Use the mortgage lender/broker schedule for origination or brokerage activity, the $150,000 minimum for exclusive mortgage servicing, and the processing/underwriting rule for applicable loan processing or underwriting companies. | Get Quote |
Filing note: Ohio mortgage licensing, exemptions, and NMLS filings should be confirmed with the Ohio Division of Financial Institutions and the current NMLS checklist. Confirm the exact bond form, legal name, NMLS ID, license, registration, or exemption type, branch count, MLO coverage, processing/underwriting company status, and filing method before ordering or filing the bond.
Ohio Mortgage Bond Amounts
Ohio mortgage lender and mortgage broker bond amounts are based on the prior-year aggregate amount of residential mortgage loans originated, with a minimum bond amount and additional location requirement. Loan processing or underwriting companies are addressed under the Ohio surety bond rule and are bonded in the same manner as a registrant or qualified exempt entity when required. The Ohio mortgage servicer bond minimum is different when the registrant engages exclusively in mortgage servicing.
| Ohio Requirement | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| Mortgage lender, broker, or processing/underwriting company minimum | $50,000 | $25 | $249 |
| Mortgage lender or broker with one additional Ohio location at minimum volume | $60,000 | $30 | $299 |
| Mortgage lender, broker, or processing/underwriting company intermediate amount | $75,000 | $38 | $375 |
| Exempt entity MLO bond maximum or higher-volume lender, broker, or processing/underwriting company bond | $100,000 | $50 | $499 |
| Maximum lender, broker, or processing/underwriting company bond, or exclusive mortgage servicer minimum | $150,000 | $75 | $749 |
Calculation note: Ohio’s statutory formula is 0.5% of the aggregate loan amount of residential mortgage loans originated in the immediately preceding calendar year. Mortgage lender and broker bonds may not exceed $150,000, but the statutory minimum includes $50,000 plus $10,000 for each location after the first. Exempt entity MLO bond coverage is capped at $100,000. Loan processing or underwriting company bond amounts should be confirmed against the current Ohio/NMLS checklist and applicable OAC rule.
Ohio Mortgage Lender Bond
The Ohio Mortgage Lender Bond applies to mortgage lenders registered under the Ohio Residential Mortgage Lending Act. A mortgage lender that transacts business in Ohio must maintain a corporate surety bond in favor of the Superintendent of Financial Institutions.
License Type
Ohio Mortgage Lender Certificate of Registration.
Bond Limits
$50,000 to $150,000 based on prior-year Ohio residential mortgage loan volume and location count.
Starting Price
$249 for one year or $25 monthly for the $50,000 bond.
Use this option when the Ohio or NMLS checklist references mortgage lender authority, mortgage lending activity, residential mortgage lending, a certificate of registration, or an Ohio Residential Mortgage Lending Act bond.
Ohio Mortgage Broker Bond
The Ohio Mortgage Broker Bond applies to mortgage brokers registered under the Ohio Residential Mortgage Lending Act. A mortgage broker that transacts business in Ohio must maintain a corporate surety bond in favor of the Superintendent of Financial Institutions.
Registration Type
Ohio Mortgage Broker Certificate of Registration.
Bond Limits
$50,000 to $150,000 based on prior-year Ohio residential mortgage loan volume and location count.
Starting Price
$249 for one year or $25 monthly for the $50,000 bond.
Use this option when the Ohio or NMLS checklist references mortgage broker authority, brokered loans, arranging loans, negotiating loans, or an Ohio Residential Mortgage Lending Act bond.
Ohio Mortgage Servicer Bond
The Ohio Mortgage Servicer Bond applies to registrants engaged exclusively in the business of mortgage servicing. Ohio requires the bond amount for registrants that engage exclusively in mortgage servicing to be a minimum of $150,000.
Registration Type
Ohio Mortgage Servicer Certificate of Registration.
Minimum Bond Limit
$150,000 for registrants engaged exclusively in mortgage servicing.
Jet Pricing
$749 for one year, $75 monthly, $1,311 for two years, or $1,873 for three years.
Use this option when the Ohio or NMLS checklist references mortgage servicing, mortgage servicer registration, exclusive mortgage servicing, or an Ohio Mortgage Servicer Bond.
Ohio Third Party Processing and/or Underwriting Company Bond
The Ohio Third Party Processing and/or Underwriting Company Bond applies to loan processing or underwriting companies that provide loan processing or underwriting services to one or more mortgage lenders or mortgage brokers under contract. Ohio law allows certain employees of these companies to perform only clerical or support duties under the direction and supervision of a licensed MLO employee of the same company, provided the loan processing or underwriting company has obtained the required letter of exemption.
Ohio’s surety bond rule states that a bond obtained by a loan processing or underwriting company is handled in the same manner as a registrant or qualified exempt entity bond. The bond must be issued in the name of the loan processing or underwriting company, list the company’s main office, include any trade or fictitious name used, and provide one aggregate bond amount regardless of the number of exempted office locations.
License or Exemption Type
Ohio Third Party Processing and/or Underwriting Company, loan processing company, underwriting company, or letter-of-exemption filing.
Bond Limits
Generally $50,000 to $150,000 depending on the required aggregate bond calculation and final Ohio/NMLS checklist.
Starting Price
$249 for one year or $25 monthly for the $50,000 bond.
Use this option when the Ohio or NMLS checklist references Third Party Processing and/or Underwriting Company, loan processing or underwriting company, third-party processor, third-party underwriter, or a letter of exemption for processing/underwriting activity.
Ohio Mortgage Loan Originator Bond Coverage
Ohio mortgage loan originators must be licensed and employed by or associated with a registrant or an entity holding a valid letter of exemption. If the mortgage loan originator is covered by a corporate surety bond obtained by the registrant, the exempt entity, or the loan processing or underwriting company on the licensee’s behalf, the MLO is not required to obtain an individual bond.
License Type
Ohio Mortgage Loan Originator License.
How Coverage Works
Coverage is generally provided by the registrant’s bond when the MLO is employed by or associated with the registrant, or by an exempt entity or processing/underwriting company bond when eligible.
Separate Bond Situation
MLOs associated with a valid letter-of-exemption entity or performing loan processor/underwriter clerical or support duties may need $50,000 to $100,000 coverage if not covered by the entity or company.
Before ordering separate MLO coverage, confirm whether the MLO is covered by the registrant, exempt entity, or loan processing/underwriting company corporate surety bond and whether the employment, association, or independent contractor relationship is reflected correctly in NMLS or Ohio records.
Ohio Exempt Entity MLO Bond
The Ohio Exempt Entity MLO Bond applies when a mortgage loan originator is employed by or associated with a person or entity holding a valid Ohio letter of exemption and the MLO or exempt entity must provide separate surety bond coverage. This bond is in favor of the Superintendent of Financial Institutions and is for the exclusive benefit of any buyer injured by a violation by the licensee.
Coverage Type
Mortgage loan originator coverage tied to a valid Ohio letter-of-exemption entity.
Bond Limits
$50,000 to $100,000 based on 0.5% of prior-year residential mortgage loans originated, capped at $100,000.
Starting Price
$249 for one year or $25 monthly for the $50,000 bond.
Use this option when the Ohio or NMLS checklist references an MLO associated with a valid letter of exemption, exempt entity coverage, CUSO/depository institution exemption coverage, or an individual MLO bond requirement tied to an exempt entity.
Ohio Mortgage Broker, Lender and/or Servicer Bond
The Ohio Mortgage Broker, Lender and/or Servicer Bond option is for mortgage businesses whose NMLS or Ohio Division of Financial Institutions requirement references broader mortgage authority, including mortgage lender, mortgage broker, mortgage servicer, RMLA registrant, exempt entity, loan processing or underwriting company, or mortgage loan originator coverage.
Authority Type
Ohio mortgage lender, mortgage broker, mortgage servicer, RMLA registrant, exempt entity, loan processing or underwriting company, or MLO coverage.
Common Bond Limits
$50,000 to $150,000 for lender, broker, servicer, and processing/underwriting company coverage; $50,000 to $100,000 for certain exempt entity MLO coverage.
Starting Price
$249 for one year for a $50,000 Ohio mortgage bond.
Use this option when the Ohio or NMLS requirement references mortgage broker, mortgage lender, mortgage servicer, MLO coverage, exempt entity coverage, third-party processing, third-party underwriting, or combined mortgage activity rather than a narrower bond title.
Ohio Mortgage Bond Comparison
Ohio mortgage bond requirements depend on the license, registration, or exemption type, prior-year residential mortgage loan volume, branch-location count, whether the registrant exclusively services mortgage loans, and whether mortgage loan originator coverage is handled through a registrant, exempt entity, or loan processing/underwriting company bond.
| Requirement | Regulator | Bond Amount | Main Filing Point |
|---|---|---|---|
| Mortgage Lender Bond | Ohio Division of Financial Institutions | $50,000 to $150,000 based on Ohio residential mortgage loan volume and location count | Ohio and NMLS license record |
| Mortgage Broker Bond | Ohio Division of Financial Institutions | $50,000 to $150,000 based on Ohio residential mortgage loan volume and location count | Ohio and NMLS registration record |
| Mortgage Servicer Bond | Ohio Division of Financial Institutions | Minimum $150,000 for registrants engaged exclusively in mortgage servicing | Ohio and NMLS registration record |
| Third Party Processing and/or Underwriting Company Bond | Ohio Division of Financial Institutions | Generally $50,000 to $150,000, based on the applicable aggregate bond calculation and final checklist | Ohio letter-of-exemption or NMLS company record when applicable |
| Mortgage Loan Originator Coverage | Ohio Division of Financial Institutions | Covered by registrant, exempt entity, or processing/underwriting company bond when eligible | NMLS MLO license and company association record |
| Exempt Entity MLO Bond | Ohio Division of Financial Institutions | $50,000 to $100,000 based on applicable residential mortgage loan volume | Ohio letter-of-exemption entity or MLO coverage record |
How Ohio Mortgage Bond Quotes Work
1
Confirm the Ohio License or Exemption
Identify whether the checklist references Mortgage Lender, Mortgage Broker, Mortgage Servicer, Mortgage Loan Originator, Exempt Entity, Third Party Processing and/or Underwriting Company, or another Ohio Residential Mortgage Lending Act requirement.
2
Confirm the Bond Amount
Use the Ohio formula, branch count, servicing status, exemption type, processing/underwriting company status, and MLO coverage rules to determine whether the bond is $50,000, $60,000, $75,000, $100,000, $150,000, or another required amount.
3
Buy and File
After purchase, Jet provides the bond or filing guidance based on the current Ohio Division of Financial Institutions and NMLS process.
Need an Ohio Mortgage License Bond?
Jet can help you choose the correct Ohio Mortgage Lender Bond, Mortgage Broker Bond, Mortgage Servicer Bond, Mortgage Loan Originator coverage, Exempt Entity MLO Bond, Third Party Processing and/or Underwriting Company Bond, or Mortgage Broker, Lender and/or Servicer Bond, review pricing, and get the bond issued for licensing, exemption, or registration.
Ohio mortgage bond pricing starts at $249 for one year for a $50,000 mortgage lender, mortgage broker, third party processing/underwriting company, or exempt entity MLO bond. Exclusive mortgage servicer bond pricing starts at $749 for one year for the $150,000 bond.
Questions? Call (855) 516-3348 or email [email protected].
How Are Ohio Mortgage Bonds Filed?
Ohio mortgage bonds should match the legal name, license, registration, or exemption type, NMLS ID, branch or location details, bond amount, effective date, and MLO association or exempt entity coverage shown on the applicable Ohio and NMLS record. Ohio law states that a copy of the bond must be filed with the Superintendent of Financial Institutions.
Before ordering, confirm whether the bond is for a mortgage lender, mortgage broker, exclusive mortgage servicer, mortgage loan originator associated with an exempt entity, third party processing and/or underwriting company, or broader mortgage broker/lender/servicer authority. Also confirm whether the bond must be completed electronically through NMLS, submitted directly to the Division, or handled with a specific Ohio bond form.
Ohio Filing
The bond must be in favor of the Superintendent of Financial Institutions and match the Ohio registration, license, or exemption record.
MLO and Processor Coverage
Confirm whether each Ohio MLO, loan processor, or underwriter is covered by a registrant, exempt entity, or loan processing/underwriting company bond before purchasing separate coverage.
Bond Changes
Contact Jet before changing the legal name, DBA, NMLS ID, branch count, bond amount, registration type, exemption type, servicing status, MLO association, or processing/underwriting company relationship.
Ohio Mortgage Bond Renewals, Changes, and Cancellations
Renewing Your Bond
Keep the Ohio mortgage bond active for the full term of registration, licensure, or exemption. Review the bond before renewal to confirm the legal name, NMLS ID, license type, exemption type, location count, MLO coverage, processing/underwriting company coverage, prior-year loan volume, servicing status, and bond amount remain correct.
Changing the Bond
A bond increase may be required if prior-year residential mortgage loan volume, branch count, exemption status, or licensing status changes. A bond rider may also be needed after a legal name, DBA, NMLS ID, registration, exemption, servicing, processing/underwriting, or MLO association change.
Cancelling or Replacing Your Bond
Ohio law requires the liability for acts or omissions during the bond term to remain in effect for at least two years after the corporate surety bond is terminated or canceled. Do not cancel a required Ohio mortgage bond until replacement coverage is accepted or the license, registration, or exemption no longer requires coverage.
What Does an Ohio Mortgage License Bond Cover?
An Ohio mortgage license bond is designed to protect buyers injured by a violation of the Ohio Residential Mortgage Lending Act or rules adopted under that chapter. The registrant bond may cover violations by the registrant, an employee, or a mortgage loan originator employed by or associated with the registrant.
For mortgage loan originators employed by or associated with a valid letter-of-exemption entity, employed by a loan processing or underwriting company, or acting as an independent contractor performing clerical or support duties of a loan processor or underwriter, the required bond is for the exclusive benefit of buyers injured by covered violations. Ohio also requires notice to the Superintendent when certain buyer actions or judgments are brought, and a surety must notify the Superintendent after paying a claim or judgment.
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 Ohio Mortgage Bond Claims
- Maintain continuous bond coverage for the correct Ohio mortgage lender, mortgage broker, mortgage servicer, MLO, exempt entity, or third party processing/underwriting company requirement.
- Match the bond to the exact legal name, DBA, NMLS ID, license, registration, or exemption type, branch count, main office address, trade name, and required bond amount.
- Use the correct prior-year residential mortgage loan volume to calculate the bond amount.
- Add the required $10,000 per location after the first for mortgage lender and mortgage broker bonds when applicable.
- Use the $150,000 minimum when the registrant engages exclusively in mortgage servicing.
- Confirm whether MLOs are covered by the registrant, exempt entity, or loan processing/underwriting company bond before purchasing separate coverage.
- Confirm whether a loan processing or underwriting company needs a valid letter of exemption before employees perform clerical or support duties under the company’s processing or underwriting structure.
- Do not conduct Ohio mortgage lender, mortgage broker, mortgage servicer, MLO, processing, or underwriting activity without the correct certificate, license, exemption, or association.
- Do not advertise or represent loan terms in a false, misleading, or deceptive way.
- Do not charge unauthorized or improper consumer fees.
- Maintain required records for the time required by Ohio law and make records available for examination when requested.
- Submit required reports, renewals, license amendments, exemption updates, bond riders, and NMLS updates on time.
- Keep company, branch, MLO association, exempt entity, processing/underwriting company, servicing, and license information current in NMLS and with the Ohio Division of Financial Institutions.
- Contact Jet before cancelling, replacing, or changing the bond.
Want to Know More About Mortgage Bond Processes?
Popular Mortgage License Bond Guides
Ohio Mortgage License Bond FAQ
What Ohio mortgage bonds are covered on this page?
This page covers Ohio Mortgage Lender Bonds, Mortgage Broker Bonds, Mortgage Servicer Bonds, Mortgage Loan Originator bond coverage, Exempt Entity MLO Bonds, Third Party Processing and/or Underwriting Company Bonds, and Mortgage Broker, Lender and/or Servicer Bonds.
What is the Ohio Mortgage Lender Bond amount?
The Ohio Mortgage Lender Bond ranges from $50,000 to $150,000. The amount is generally 0.5% of the prior-year aggregate Ohio residential mortgage loan amount, with a minimum of $50,000 plus $10,000 for each additional location after the first.
How much does an Ohio Mortgage Lender Bond cost?
Jet pricing for a $50,000 Ohio Mortgage Lender Bond is $249 for one year, $25 monthly, $436 for two years, or $623 for three years. Higher limits cost more.
What is the Ohio Mortgage Broker Bond amount?
The Ohio Mortgage Broker Bond ranges from $50,000 to $150,000. The amount is generally 0.5% of the prior-year aggregate Ohio residential mortgage loan amount, with a minimum of $50,000 plus $10,000 for each additional location after the first.
How much does an Ohio Mortgage Broker Bond cost?
Jet pricing for a $50,000 Ohio Mortgage Broker Bond is $249 for one year, $25 monthly, $436 for two years, or $623 for three years. Higher limits cost more.
What is the Ohio Mortgage Servicer Bond amount?
Ohio registrants engaged exclusively in mortgage servicing must maintain a minimum $150,000 corporate surety bond.
How much does an Ohio Mortgage Servicer Bond cost?
Jet pricing for a $150,000 Ohio Mortgage Servicer Bond is $749 for one year, $75 monthly, $1,311 for two years, or $1,873 for three years.
What is the Ohio Third Party Processing and/or Underwriting Company Bond amount?
Ohio loan processing or underwriting companies are bonded in the same manner as registrants or qualified exempt entities when required. The amount is generally based on 0.5% of aggregate residential mortgage loans originated in the prior calendar year, capped at $150,000. Confirm the exact amount on the current Ohio or NMLS checklist.
How much does an Ohio Third Party Processing and/or Underwriting Company Bond cost?
Jet pricing for a $50,000 Ohio Third Party Processing and/or Underwriting Company Bond is $249 for one year, $25 monthly, $436 for two years, or $623 for three years. Higher limits cost more.
Does an Ohio mortgage loan originator need an individual bond?
Not always. Ohio mortgage loan originators covered by a corporate surety bond obtained by the registrant, valid exempt entity, or loan processing or underwriting company on the licensee’s behalf are not required to obtain an individual bond.
What is the Ohio Exempt Entity MLO Bond amount?
For a mortgage loan originator employed by or associated with a valid Ohio letter-of-exemption entity, the bond amount is 0.5% of the aggregate loan amount of residential mortgage loans originated in the immediately preceding calendar year, capped at $100,000, with a $50,000 minimum.
Who is the obligee on an Ohio mortgage license bond?
The obligee is the Superintendent of Financial Institutions for the State of Ohio.
Who should I contact for Ohio 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 an Ohio mortgage license bond.
Get the Ohio Mortgage Bond Required for Your License
Start by choosing the Ohio bond that matches your license, registration, exemption, company record, MLO coverage, processing/underwriting company status, branch count, prior-year loan volume, servicing status, or NMLS checklist. Jet will help with quoting, bond purchase, renewal support, and filing guidance when applicable.
Ohio mortgage bond pricing starts at $249 for one year or $25 monthly for the $50,000 Mortgage Lender, Mortgage Broker, Third Party Processing and/or Underwriting Company, or Exempt Entity MLO Bond. Exclusive Mortgage Servicer Bond pricing starts at $749 for one year or $75 monthly for the $150,000 bond.
Call: (855) 516-3348
Email: [email protected]