IL residential mortgage bonds.
From $100. Enter your amount.
Illinois mortgage bankers and brokers licensed under the Residential Mortgage License Act of 1987 maintain a surety bond through NMLS covering each sponsored mortgage loan originator, with the penal sum sized to the dollar amount of Illinois loans originated — $25,000 to $150,000 under the Department's tiers. The premium is 0.6% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.
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Apply to filed in one sitting.
Enter your amount, pay, and satisfy the NMLS bond requirement. Here is the whole thing:
Apply online
Business details, the bond amount your volume tier requires, an effective date, and a term. Any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
The premium is 0.6% of the bond amount, $100 minimum — a $25,000 floor bond prices at $150 — and the bond issues the moment you pay, executed bond and power of attorney on the spot.
File with your NMLS record
Submit the bond against your residential mortgage license record so IDFPR can verify coverage for your sponsored loan originators.
What it is and who needs it.
What the bond actually guarantees
The Residential Mortgage License Act of 1987, 205 ILCS 635, licenses the mortgage bankers and brokers originating Illinois residential loans. Section 7-12 requires that each mortgage loan originator be covered by a surety bond, with the penal sum maintained at an amount reflecting the dollar volume of loans originated, as determined by the Director — in practice the licensee files one bond through NMLS covering all its sponsored originators.
It's a three-party arrangement: you (the principal), the surety carrier, and the State (the obligee). The bond stands behind compliance with the Act — the origination, disclosure, and conduct rules protecting Illinois borrowers — and the Department's rules tier the amount from $25,000 (up to $5 million in annual Illinois volume) to $150,000 (over $100 million).
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond is filed and maintained electronically in NMLS and re-tiered as your volume changes; we issue the amount your tier requires and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — business details, your bond amount, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Illinois bonds.
Mortgage license bond, issued today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.