Iowa mortgage banker bonds.
From $600.
Iowa's mortgage banker license requires a surety bond filed with the superintendent of banking through NMLS before the license issues. Iowa Code 535B.9 sets the bond at $100,000; it rises to $150,000 for lenders whose annual loan volume tops $100 million. The premium is 0.6% of the bond amount.
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How much does an Iowa mortgage banker bond cost?
0.6% of the bond amount, from $600 at the $100,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No quote round-trip — enter your amount, pay, and the executed bond delivers through NMLS. Here is the whole thing:
Apply online
Your business details, the bond amount your NMLS checklist requires, and an effective date — that is the application. No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Pay & e-sign
The premium is 0.6% of the bond amount — priced at checkout, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.
File through NMLS
The executed bond delivers on the NMLS electronic surety bond track to the Iowa Division of Banking. Wet-ink original mailed whenever the state insists.
What it is and who needs it.
What the mortgage banker bond covers
Iowa licenses mortgage bankers — lenders who fund or service residential mortgage loans — through the Division of Banking under Iowa Code chapter 535B, with applications processed through NMLS. Under section 535B.9, a license applicant files a surety bond with the administrator — $100,000 for mortgage bankers until the superintendent sets a loan-volume-based amount by rule; the Division's checklist raises it to $150,000 when annual loan volume exceeds $100 million.
The bond is for the use of the state and any persons with causes of action against you — conditioned on faithfully conforming to chapter 535B and its rules, with the surety answerable for moneys that become due to the state or to those persons under the chapter. It's what stands behind your lending and servicing conduct with Iowa borrowers.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond is continuous until canceled by the surety on at least 30 days' written notice to you and the administrator, and it files electronically through NMLS against your company record; we track the term 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 through NMLS. The executed bond delivers on the NMLS electronic surety bond track to the Iowa Division of Banking. Wet-ink original mailed whenever the state insists.
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 $250,000. 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.
Submit the application with the bond amount your NMLS checklist requires — the executed bond is generated the moment you pay, ready to file.
Start the application →Common questions.
Iowa mortgage license bonds.
We write 3 mortgage license bonds in Iowa. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Mortgage Broker Bond — NMLS | Iowa Code § 535B.9 | $100,000 or more | From $600 |
| Exempt Company Registration Bond ($100,000) | Iowa Code § 535B.9 | $100,000 | $600 |
| Mortgage Banker Bond — NMLS (this page) | Iowa Code § 535B.9 | $100,000 or more | From $600 |
Other Iowa bonds.
The same bond in nearby states.
Price and requirements checked on the carrier’s application, . Page updated .
Mortgage banker bond, issued today.
0.6% of the bond amount, with your exact price at the application. Enter your required amount and file the same day.