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Washington mortgage and consumer loan surety bonds
Washington Mortgage License Bonds
Washington mortgage brokers, consumer loan companies, residential mortgage lenders, residential mortgage loan servicers, mortgage loan originator sponsors, residential mortgage loan modification providers, student education loan servicers, and related lending businesses may need an Electronic Surety Bond for licensing with the Washington State Department of Financial Institutions. Jet Insurance Company helps Washington mortgage and lending professionals quote, purchase, renew, replace, and manage the bond required for their Washington license or NMLS filing.
Use this page to compare Washington Mortgage Broker, Consumer Loan Company, Residential Mortgage Lender, Residential Mortgage Loan Servicer, Mortgage Loan Originator sponsorship coverage, Loan Modification, Student Education Loan Servicer, and Mortgage Broker, Lender and/or Servicer bond requirements, view Jet pricing, and get filing support for your Washington mortgage or lending license.
Need help? Call (855) 516-3348 or email [email protected].
Last updated: July 2026. Washington mortgage and consumer loan bond requirements can change. Confirm the final license type, Washington loan volume, bond amount, NMLS record, ESB access, MLO sponsorship, servicing-only status, and Washington DFI checklist before filing.
Washington Mortgage Bond Quick Answers
Which bonds are covered?
This page covers Washington Mortgage Broker Bonds, Consumer Loan Company Bonds, Residential Mortgage Lender Bonds, Residential Mortgage Loan Servicer Bond guidance, Mortgage Loan Originator sponsorship coverage, Loan Modification Bonds, Student Education Loan Servicer Bonds, and Mortgage Broker, Lender and/or Servicer Bonds.
Who regulates these licenses?
The Washington State Department of Financial Institutions regulates Washington mortgage brokers, loan originators, consumer loan companies, residential mortgage lenders, and residential mortgage loan servicers through its Division of Consumer Services.
What are the common limits?
Washington mortgage broker bonds are $20,000, $40,000, or $60,000. Washington Consumer Loan Company bonds are commonly $30,000, $50,000, $100,000, or $150,000.
How do I get help?
Call (855) 516-3348 or email [email protected].
Choose Your Washington Mortgage License Bond
The correct Washington bond depends on whether the company is applying as a mortgage broker, consumer loan company, residential mortgage lender, residential mortgage loan servicer, loan modification service provider, student education loan servicer, or company sponsoring Washington mortgage loan originators. Washington DFI uses Electronic Surety Bond filing through NMLS for mortgage broker and consumer loan bonds, and paper bonds are not accepted for those ESB requirements.
Mortgage Broker Bond
For Washington mortgage brokers licensed under the Mortgage Broker Practices Act.
Bond limits: $20,000, $40,000, or $60,000
Amount basis: Washington loan origination volume
Starting price: $99 for one year or $10 monthly for the $20,000 bond.
Consumer Loan Company Bond
For Washington Consumer Loan Company licensees conducting origination, lending, brokering, or student loan servicing activity.
Bond limits: $30,000, $50,000, $100,000, or $150,000
Amount basis: Washington loan origination, lending, brokering, or student loan servicing volume
Starting price: $149 for one year or $15 monthly for the $30,000 bond.
Residential Mortgage Lender Bond
For Washington Consumer Loan Company licensees that originate residential mortgage loans.
Bond limits: $30,000, $50,000, $100,000, or $150,000
Amount basis: Annual dollar amount of residential mortgage loans originated
Starting price: $149 for one year or $15 monthly for the $30,000 bond.
Residential Mortgage Loan Servicer Bond Guidance
For Washington Consumer Loan Company licensees that only service residential mortgage loans or master service residential mortgage loans.
Bond requirement: No bond for servicer-only applicants unless the company elects an ESB in lieu of required net worth or sponsors a Washington MLO
Possible bond limits: $30,000 to $150,000 if a bond is required by the checklist or elected in lieu of net worth
Mortgage Loan Originator Sponsorship Coverage
For Washington companies sponsoring mortgage loan originators under a Mortgage Broker or Consumer Loan Company license.
Common coverage: Covered through the sponsoring mortgage broker or consumer loan company bond when required
Important note: A residential mortgage servicer-only company may trigger a bond requirement if it sponsors a Washington MLO.
Residential Mortgage Loan Modification Bond
For Washington mortgage brokers or consumer loan companies that only offer third-party residential mortgage loan modification services.
Mortgage Broker Act amount: $20,000
Consumer Loan Act amount: $30,000
Starting price: $99 for one year for the $20,000 bond.
Student Education Loan Servicer Bond
For Washington Consumer Loan Company licensees that only service student education loans.
Bond limit: $30,000
Amount basis: Student education loan servicing activity under the Consumer Loan Act
Starting price: $149 for one year or $15 monthly for the $30,000 bond.
Broker, Lender and/or Servicer Bond
For businesses whose Washington or NMLS requirement references broader mortgage broker, consumer loan, mortgage lender, residential mortgage servicer, MLO sponsorship, loan modification, or student loan servicing coverage.
Common limits: $20,000, $30,000, $40,000, $50,000, $60,000, $100,000, or $150,000
Starting price: $99 for one year for a $20,000 bond or $149 for one year for a $30,000 bond.
Important: Washington mortgage broker bonds are $20,000 for new applicants and adjust to $20,000, $40,000, or $60,000 based on Washington loan origination volume. Washington Consumer Loan Company bonds are $30,000 for new applicants and adjust to $30,000, $50,000, $100,000, or $150,000 based on loan volume. Residential mortgage servicer-only companies generally do not need a bond unless they elect an ESB instead of required net worth or sponsor a Washington MLO.
Washington 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 Washington Use | Monthly | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|
| $20,000 | Mortgage Broker applicant, lowest broker tier, or Mortgage Broker Act loan modification bond | $10 | $99 | $173 | $248 |
| $30,000 | Consumer Loan Company applicant, Consumer Loan Act loan modification, or student education loan servicer | $15 | $149 | $261 | $373 |
| $40,000 | Mortgage Broker middle volume tier | $20 | $199 | $348 | $498 |
| $50,000 | Consumer Loan Company second volume tier | $25 | $249 | $436 | $623 |
| $60,000 | Mortgage Broker highest volume tier | $30 | $299 | $523 | $748 |
| $100,000 | Consumer Loan Company higher volume tier | $50 | $499 | $873 | $1,248 |
| $150,000 | Consumer Loan Company highest volume tier | $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, Washington loan volume, ESB access, NMLS filing status, MLO sponsorship, servicing-only status, and Washington DFI requirements.
Get Washington Mortgage Bond Pricing
Start a quote online and select the Washington bond that matches your license or NMLS checklist. Jet can help confirm whether you need a Mortgage Broker Bond, Consumer Loan Company Bond, Residential Mortgage Lender Bond, Residential Mortgage Loan Servicer bond guidance, MLO sponsorship coverage, Loan Modification Bond, Student Education Loan Servicer Bond, or Mortgage Broker, Lender and/or Servicer Bond.
Questions? Call (855) 516-3348 or email [email protected].
Washington Mortgage Bond Requirements
Washington mortgage broker licensees must have an Electronic Surety Bond on file with DFI through NMLS. The bond amount is determined annually by Washington loan origination volume. New mortgage broker applicants start with a $20,000 ESB unless they held a Washington license in the previous calendar year and must use prior-year Washington volume.
Washington Consumer Loan Company licensees conducting origination, lending, brokering, or student loan servicing activity must also have an Electronic Surety Bond on file. New Consumer Loan Company applicants generally start with a $30,000 ESB unless they only service residential mortgage loans. The bond amount adjusts annually based on Washington loan origination or servicing volume.
| Washington License or Authority | Bond Amount | How the Requirement Works | Quote |
|---|---|---|---|
| Mortgage Broker License | $20,000, $40,000, or $60,000 | All Washington mortgage broker licensees must have an ESB on file through NMLS. Amount is based on Washington loan origination volume. | Get Quote |
| Consumer Loan Company License | $30,000, $50,000, $100,000, or $150,000 | Required for Consumer Loan licensees conducting origination, lending, brokering, or student loan servicing activity. Amount is based on Washington loan volume. | Get Quote |
| Residential Mortgage Lender | $30,000, $50,000, $100,000, or $150,000 | Consumer Loan Company licensees that originate residential mortgage loans use the Consumer Loan Act bond schedule based on residential mortgage loan origination volume. | Get Quote |
| Residential Mortgage Loan Servicer | No bond required for servicer-only applicants unless ESB is elected in lieu of net worth or the company sponsors a Washington MLO | Residential mortgage servicer-only companies generally do not need a bond, but a bond may be required if they elect a bond instead of net worth or sponsor an MLO. | Get Help |
| Mortgage Loan Originator Sponsorship Coverage | Covered by sponsoring company bond when required | Washington MLO coverage depends on the sponsoring Mortgage Broker or Consumer Loan Company license and applicable NMLS/DFI checklist. | Get Help |
| Residential Mortgage Loan Modification Services | $20,000 under Mortgage Broker Act or $30,000 under Consumer Loan Act | Mortgage brokers only offering residential mortgage loan modification services have a $20,000 bond. Consumer Loan licensees only offering third-party residential mortgage loan modification services have a $30,000 bond. | Get Quote |
| Student Education Loan Servicer | $30,000 | Consumer Loan licensees that only service student education loans have a $30,000 bond. | Get Quote |
| Mortgage Broker, Lender and/or Servicer | $20,000 to $150,000 depending on license type and volume | Use the Washington bond amount that matches the Mortgage Broker, Consumer Loan Company, residential mortgage lender, servicer, MLO, loan modification, or student loan servicing requirement. | Get Quote |
Filing note: Washington mortgage broker and consumer loan bonds are filed as Electronic Surety Bonds through NMLS. The applicant or licensee grants Jet access in NMLS, and Jet issues the ESB electronically. Confirm the legal name, NMLS ID, license type, bond amount, Washington loan volume, MLO sponsorship, and regulator checklist before ordering.
Washington Mortgage Bond Amounts
Washington uses separate bond schedules for Mortgage Broker licensees and Consumer Loan Company licensees. Mortgage broker bonds are based on Washington loan origination volume. Consumer Loan Company bonds are based on Washington origination, lending, brokering, or student loan servicing volume.
Mortgage Broker Bond Amounts
| Washington Mortgage Broker Loan Volume | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| $0 to $20,000,000 | $20,000 | $10 | $99 |
| $20,000,000 to $40,000,000 | $40,000 | $20 | $199 |
| Over $40,000,000 | $60,000 | $30 | $299 |
Consumer Loan Company Bond Amounts
| Washington Loan Volume | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| $0 to $20,000,000 | $30,000 | $15 | $149 |
| $20,000,000 to $40,000,000 | $50,000 | $25 | $249 |
| $40,000,000 to $50,000,000 | $100,000 | $50 | $499 |
| $50,000,000 or more | $150,000 | $75 | $749 |
Other Washington Mortgage and Lending Bond Amounts
| Washington Requirement | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| Mortgage Broker applicant | $20,000 | $10 | $99 |
| Consumer Loan Company applicant | $30,000 | $15 | $149 |
| Mortgage Broker Act loan modification provider | $20,000 | $10 | $99 |
| Consumer Loan Act third-party residential mortgage loan modification provider | $30,000 | $15 | $149 |
| Student education loan servicer only | $30,000 | $15 | $149 |
| Residential mortgage loan servicer only | No bond unless ESB is elected in lieu of net worth or the company sponsors a Washington MLO | Varies | Varies |
Volume note: Washington applicants that held a Washington license in the previous calendar year must use prior-year Washington volume to determine the bond amount. Current mortgage broker licensees review bond amount when filing the Q4 Mortgage Call Report and file any rider by March 31. Current Consumer Loan licensees conducting origination or lending activity adjust bond amount with the Consumer Loan Annual Assessment due by March 1.
Washington Mortgage Broker Bond
The Washington Mortgage Broker Bond applies to mortgage brokers licensed under the Mortgage Broker Practices Act. Mortgage brokers must have a valid surety bond on file with the director at all times, and the bond must list the mortgage broker’s corporate name and NMLS unique identifier.
License Type
Washington Mortgage Broker License.
Bond Limits
$20,000, $40,000, or $60,000 based on Washington loan origination volume.
Starting Price
$99 for one year or $10 monthly for the $20,000 bond.
Use this option when the Washington or NMLS checklist references Mortgage Broker License, mortgage broker ESB, Mortgage Broker Practices Act, Washington broker bond, or a $20,000, $40,000, or $60,000 bond amount.
Washington Consumer Loan Company Bond
The Washington Consumer Loan Company Bond applies to Consumer Loan licensees conducting origination, lending, brokering, or student loan servicing activity. DFI uses NMLS to manage Consumer Loan licenses, and new Consumer Loan Company applicants must have the ESB issued through NMLS before the application can be filed.
License Type
Washington Consumer Loan Company License.
Bond Limits
$30,000, $50,000, $100,000, or $150,000 based on Washington loan volume.
Starting Price
$149 for one year or $15 monthly for the $30,000 bond.
Use this option when the Washington or NMLS checklist references Consumer Loan Company License, Consumer Loan Act, consumer loan bond, lender bond, brokering bond, or a $30,000, $50,000, $100,000, or $150,000 bond amount.
Washington Residential Mortgage Lender Bond
Washington residential mortgage lending activity is commonly licensed under the Consumer Loan Company License. If a Consumer Loan Company only originates residential mortgage loans, the surety bond amount is based on the annual dollar amount of residential mortgage loans originated in Washington. If the company both originates and services residential mortgage loans, the bond amount is based on origination volume.
License Type
Washington Consumer Loan Company License for residential mortgage lending.
Bond Limits
$30,000, $50,000, $100,000, or $150,000 based on residential mortgage loan origination volume.
Starting Price
$149 for one year or $15 monthly for the $30,000 bond.
Use this option when the Washington or NMLS checklist references residential mortgage lender, consumer loan company mortgage lending, residential mortgage loan origination, mortgage lender bond, or closed residential mortgage loans.
Washington Residential Mortgage Loan Servicer Bond Guidance
Washington Consumer Loan Company applicants that only service residential mortgage loans generally do not have a bond requirement. A bond requirement may arise if the company elects to use an ESB in lieu of the required net worth or sponsors a Washington mortgage loan originator. This makes the servicer bond decision different from the standard origination or lending bond schedule.
License Type
Washington Consumer Loan Company License for residential mortgage servicing or master servicing.
Bond Requirement
No bond for servicer-only companies unless ESB is elected in lieu of net worth or the company sponsors a Washington MLO.
Jet Help
Jet can help confirm whether the checklist requires a bond or whether the company is using net worth instead.
Use this option when the Washington or NMLS checklist references residential mortgage loan servicer, master servicer, servicer-only company, net worth alternative, or sponsored Washington MLO coverage.
Washington Mortgage Loan Originator Sponsorship Coverage
Washington mortgage loan originators work under a sponsoring mortgage broker or consumer loan company license. A company bond may be part of the required coverage for sponsored Washington MLOs depending on the company license and activity. A residential mortgage servicer-only company can trigger a bond requirement if it sponsors a Washington MLO.
License Type
Washington Mortgage Loan Originator License.
Common Coverage
Coverage through the sponsoring mortgage broker or consumer loan company bond when required.
Checklist Review
Confirm the current Washington DFI and NMLS checklist before ordering separate coverage.
Use this option when the Washington or NMLS checklist references MLO sponsorship, Washington mortgage loan originator, company MLO coverage, or sponsored originator bond coverage.
Washington Residential Mortgage Loan Modification Bond
Washington loan modification bond requirements depend on whether the company is licensed under the Mortgage Broker Practices Act or the Consumer Loan Act. A mortgage broker that only offers residential mortgage loan modification services has a $20,000 bond. A Consumer Loan Company that only offers third-party residential mortgage loan modification services has a $30,000 bond.
Mortgage Broker Act
$20,000 bond for mortgage brokers that only offer residential mortgage loan modification services.
Consumer Loan Act
$30,000 bond for Consumer Loan licensees that only offer third-party residential mortgage loan modification services.
Starting Price
$99 for one year for a $20,000 bond or $149 for one year for a $30,000 bond.
Use this option when the Washington or NMLS checklist references residential mortgage loan modification services, third-party loan modification, loan modification provider, Mortgage Broker Act modification coverage, or Consumer Loan Act modification coverage.
Washington Student Education Loan Servicer Bond
Washington Consumer Loan Company licensees that only service student education loans must maintain a $30,000 surety bond under the Consumer Loan Act bond rule.
License Type
Washington Consumer Loan Company License for student education loan servicing.
Bond Limit
$30,000.
Jet Pricing
$149 for one year, $15 monthly, $261 for two years, or $373 for three years.
Use this option when the Washington or NMLS checklist references student education loan servicing, student loan servicer, Consumer Loan Act student loan servicing, or $30,000 bond coverage.
Washington Mortgage Broker, Lender and/or Servicer Bond
The Washington Mortgage Broker, Lender and/or Servicer Bond option is for businesses whose Washington DFI or NMLS requirement references broader mortgage broker, consumer loan, residential mortgage lender, residential mortgage servicer, mortgage loan originator sponsorship, loan modification, student loan servicing, or combined mortgage activity.
Authority Type
Washington mortgage broker, consumer loan company, residential mortgage lender, servicer, MLO sponsor, loan modification, or student loan servicer coverage.
Common Bond Limits
$20,000, $30,000, $40,000, $50,000, $60,000, $100,000, or $150,000.
Starting Price
$99 for one year for a $20,000 bond or $149 for one year for a $30,000 bond.
Use this option when the Washington or NMLS requirement references mortgage broker, mortgage lender, consumer loan company, residential mortgage servicer, loan originator sponsorship, loan modification, student loan servicing, or combined mortgage activity rather than a narrower bond title.
Washington Mortgage Bond Comparison
Washington mortgage and lending bond requirements depend on the license type, activity, Washington loan volume, MLO sponsorship, and whether the company is a servicer-only company or also originates, brokers, lends, or services student loans.
| Requirement | Regulator | Bond Amount | Main Filing Point |
|---|---|---|---|
| Mortgage Broker Bond | Washington DFI Division of Consumer Services | $20,000, $40,000, or $60,000 | NMLS Electronic Surety Bond |
| Consumer Loan Company Bond | Washington DFI Division of Consumer Services | $30,000, $50,000, $100,000, or $150,000 | NMLS Electronic Surety Bond |
| Residential Mortgage Lender Bond | Washington DFI Division of Consumer Services | $30,000, $50,000, $100,000, or $150,000 | NMLS Electronic Surety Bond |
| Residential Mortgage Loan Servicer Bond Guidance | Washington DFI Division of Consumer Services | No bond for servicer-only applicants unless ESB is elected in lieu of net worth or the company sponsors a Washington MLO | NMLS checklist and DFI review |
| Mortgage Loan Originator Sponsorship Coverage | Washington DFI Division of Consumer Services | Covered by sponsoring company bond when required | NMLS sponsorship and company bond record |
| Residential Mortgage Loan Modification Bond | Washington DFI Division of Consumer Services | $20,000 under Mortgage Broker Act or $30,000 under Consumer Loan Act | NMLS Electronic Surety Bond |
| Student Education Loan Servicer Bond | Washington DFI Division of Consumer Services | $30,000 | NMLS Electronic Surety Bond |
How Washington Mortgage Bond Quotes Work
1
Confirm the Washington License
Identify whether the checklist references Mortgage Broker, Consumer Loan Company, Residential Mortgage Lender, Residential Mortgage Loan Servicer, MLO sponsorship, Loan Modification, Student Education Loan Servicer, or combined mortgage authority.
2
Confirm the Bond Amount
Use the mortgage broker schedule, consumer loan company schedule, loan modification amount, student loan servicer amount, or servicer-only bond guidance that matches the license type and Washington activity.
3
Grant ESB Access and File
Grant Jet access in NMLS so the Electronic Surety Bond or rider can be issued through NMLS for the Washington DFI filing.
Need a Washington Mortgage License Bond?
Jet can help you choose the correct Washington Mortgage Broker Bond, Consumer Loan Company Bond, Residential Mortgage Lender Bond, Residential Mortgage Loan Servicer bond guidance, MLO sponsorship coverage, Loan Modification Bond, Student Education Loan Servicer Bond, or Mortgage Broker, Lender and/or Servicer Bond, review pricing, and issue the ESB through NMLS.
Washington mortgage bond pricing starts at $99 for one year for a $20,000 Mortgage Broker Bond, $149 for one year for a $30,000 Consumer Loan Company Bond, and $749 for one year for a $150,000 high-volume Consumer Loan Company Bond.
Questions? Call (855) 516-3348 or email [email protected].
How Are Washington Mortgage Bonds Filed?
Washington mortgage broker and consumer loan company bonds are filed electronically through NMLS. The licensee grants Jet access in NMLS, and Jet issues the ESB or bond rider electronically. Washington DFI does not accept paper bond forms for these ESB requirements.
The bond should match the legal name, corporate name, NMLS unique identifier, license type, bond amount, effective date, Washington loan volume, and activity shown on the Washington DFI and NMLS checklist.
NMLS ESB Filing
Washington mortgage broker and consumer loan bonds are issued electronically through NMLS after the licensee grants access to the surety provider.
Bond Riders
Bond increases and decreases are typically handled by an electronic rider in NMLS, then submitted to the regulator through NMLS.
Bond Changes
Contact Jet before changing the legal name, DBA, NMLS ID, license type, bond amount, Washington loan volume, servicer-only status, or MLO sponsorship.
Washington Mortgage Bond Renewals, Changes, and Cancellations
Renewing Your Bond
Review the bond before renewal to confirm the legal name, NMLS ID, license type, Washington loan volume, activity, MLO sponsorship, and required bond amount. Washington mortgage broker and consumer loan bond amounts may change annually based on volume.
Changing the Bond
A bond rider or replacement ESB may be needed if the legal name, DBA, NMLS record, license type, Washington loan volume, loan modification activity, student loan servicing activity, or MLO sponsorship changes.
Cancelling or Replacing Your Bond
Do not cancel a required Washington mortgage or consumer loan bond until replacement coverage is accepted or DFI confirms the license no longer requires coverage. Mortgage broker replacement bonds must be on file before the prior bond cancellation date.
What Does a Washington Mortgage License Bond Cover?
A Washington mortgage broker surety bond protects the state and any person who suffers loss because of violations of the Mortgage Broker Practices Act or rules by the broker, employees, or independent contractors. The director or any injured person, including a third-party provider, may make a claim against the bond.
A Washington Consumer Loan Company bond supports compliance with the Consumer Loan Act and DFI requirements for origination, lending, brokering, loan modification, or student loan servicing activity. The bond is not insurance for the licensed mortgage broker, consumer loan company, servicer, lender, or MLO sponsor.
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 Washington Mortgage Bond Claims
- Maintain continuous ESB coverage for the correct Washington mortgage broker, consumer loan company, residential mortgage lender, loan modification, student loan servicer, or MLO sponsorship requirement.
- Match the bond to the exact legal name, corporate name, NMLS unique identifier, license type, bond amount, and effective date.
- Use the correct Washington loan origination volume to determine the mortgage broker bond amount.
- Use the correct Washington origination, lending, brokering, or student loan servicing volume to determine the Consumer Loan Company bond amount.
- Determine whether a residential mortgage servicer-only company needs a bond because it elects an ESB in lieu of net worth or sponsors a Washington MLO.
- Confirm whether loan modification activity is under the Mortgage Broker Act or Consumer Loan Act before selecting the $20,000 or $30,000 bond.
- Grant Jet NMLS surety access before the bond must be issued or a rider must be filed.
- Submit the Q4 Mortgage Call Report, Consumer Loan Annual Assessment, bond riders, license amendments, branch changes, sponsorship changes, and NMLS updates on time.
- Do not conduct Washington mortgage broker, consumer loan, residential mortgage lending, MLO, loan modification, or servicing activity without the correct license and bond coverage.
- Do not advertise or represent loan terms in a false, misleading, or deceptive way.
- Maintain required loan files, disclosures, trust accounting records, servicing records, complaint records, information security program, and NMLS filings.
- Contact Jet before cancelling, replacing, increasing, decreasing, or changing the bond.
Want to Know More About Mortgage Bond Processes?
Popular Mortgage License Bond Guides
Washington Mortgage License Bond FAQ
What Washington mortgage bonds are covered on this page?
This page covers Washington Mortgage Broker Bonds, Consumer Loan Company Bonds, Residential Mortgage Lender Bonds, Residential Mortgage Loan Servicer bond guidance, Mortgage Loan Originator sponsorship coverage, Loan Modification Bonds, Student Education Loan Servicer Bonds, and Mortgage Broker, Lender and/or Servicer Bonds.
What is the Washington Mortgage Broker Bond amount?
The Washington Mortgage Broker Bond amount is $20,000, $40,000, or $60,000 based on Washington loan origination volume. New mortgage broker applicants start at $20,000 unless they held a Washington license in the prior calendar year and must use prior-year volume.
How much does a Washington Mortgage Broker Bond cost?
Jet pricing starts at $99 for one year or $10 monthly for the $20,000 Washington Mortgage Broker Bond.
What is the Washington Consumer Loan Company Bond amount?
The Washington Consumer Loan Company Bond amount is $30,000, $50,000, $100,000, or $150,000 based on Washington loan origination, lending, brokering, or student loan servicing volume. New applicants generally start at $30,000.
How much does a Washington Consumer Loan Company Bond cost?
Jet pricing starts at $149 for one year or $15 monthly for the $30,000 Washington Consumer Loan Company Bond.
Does a Washington residential mortgage loan servicer need a bond?
Not always. A servicer-only or master servicer-only Consumer Loan Company applicant generally does not need a bond unless the company elects an ESB in lieu of required net worth or sponsors a Washington mortgage loan originator.
Does a Washington mortgage loan originator need a separate bond?
Washington MLO coverage is generally tied to the sponsoring Mortgage Broker or Consumer Loan Company bond when required. Confirm the current DFI and NMLS checklist if separate coverage is requested or if the sponsor is a servicer-only company.
Are Washington mortgage bonds filed electronically?
Yes. Washington mortgage broker and consumer loan bonds are filed as Electronic Surety Bonds through NMLS. Paper bond forms are not accepted for these ESB requirements.
When does a Washington mortgage broker adjust the bond amount?
Current Washington mortgage broker licensees determine whether the bond must be adjusted when filing the Q4 Mortgage Call Report, which is due February 14, and file any rider to adjust the bond amount by March 31.
When does a Washington Consumer Loan Company adjust the bond amount?
Current Washington Consumer Loan licensees conducting origination or lending activity adjust bond amount with the Consumer Loan Annual Assessment due by March 1 and deliver the bond rider in NMLS at that time.
Who regulates Washington mortgage license bonds?
The Washington State Department of Financial Institutions Division of Consumer Services regulates Washington mortgage brokers, loan originators, consumer loan companies, residential mortgage lenders, and residential mortgage loan servicers.
Who should I contact for Washington 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 Washington mortgage or consumer loan bond.
Get the Washington Mortgage Bond Required for Your License
Start by choosing the Washington bond that matches your license, company record, ESB requirement, Washington loan volume, mortgage broker authority, consumer loan company authority, residential mortgage lending activity, residential mortgage servicing status, MLO sponsorship, loan modification activity, student loan servicing activity, or NMLS checklist. Jet will help with quoting, bond purchase, renewal support, ESB access, and filing guidance when applicable.
Washington mortgage bond pricing starts at $99 for one year for a $20,000 Mortgage Broker Bond, $149 for one year for a $30,000 Consumer Loan Company Bond, and $749 for one year for a $150,000 high-volume Consumer Loan Company Bond.
Call: (855) 516-3348
Email: [email protected]