Illinois exempt entity mortgage bonds.
From $150.
Looking for the Illinois exempt entity processor bond?
An Illinois exempt company or entity registrant that sponsors licensed mortgage loan originators must file a surety bond through NMLS covering each of them under the Residential Mortgage License Act of 1987. The amount reflects Illinois loan volume, from $25,000 to $150,000, and the premium is 0.6% of the bond amount.
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How much does an Illinois exempt entity mortgage bond cost?
0.6% of the bond amount, from $150 at the $25,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
Enter your amount, pay, and satisfy the NMLS bond requirement. Here is the whole thing:
Apply online
Entity details, the bond amount your volume tier requires, an effective date, and a term. No credit check up to $150,000.
Pay & e-sign
The premium is 0.6% of the bond amount — 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 exempt company registration record so IDFPR can verify coverage for your sponsored loan originators.
What it is and who needs it.
What the bond actually guarantees
Some organizations — certain subsidiaries and other entities carved out of full licensure — originate Illinois residential loans as exempt company or entity registrants under the Residential Mortgage License Act of 1987, 205 ILCS 635, while still sponsoring state-licensed mortgage loan originators. Section 7-12 requires each of those originators to be covered by a surety bond, so the registrant files and maintains one electronically through NMLS.
It's a three-party arrangement: you (the principal), the surety carrier, and the State (the obligee). The bond stands behind your sponsored originators' compliance with the Act, with the penal sum maintained at an amount reflecting the dollar volume of loans originated, as determined by the Director — the Department's rules tier it from $25,000 to $150,000.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond re-tiers as your sponsored originators' Illinois volume changes; we issue the amount your registration requires and send renewal notices 60 and 30 days out.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with your NMLS record. Submit the bond against your exempt company registration record so IDFPR can verify coverage for your sponsored loan originators.
What sets the price
The premium is 0.6% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $150,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields — entity details, your bond amount, an effective date, and a term. That is the application.
Start the application →Common questions.
Illinois mortgage license bonds.
We write 3 mortgage license bonds in Illinois. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Loan Broker Bond ($25,000) | 815 ILCS 175/15-15(b) | $25,000 | $250 |
| Residential Mortgage License Bond — Exempt Entity (NMLS) (this page) | 205 ILCS 635/7-12 | $25,000 or more | From $150 |
| Residential Mortgage License Bond (NMLS) | 205 ILCS 635/7-12 | $25,000 or more | From $150 |
Other Illinois bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Exempt entity bond, issued today.
0.6% of the bond amount, issued the moment you pay. Free until issued.