MI 1st mortgage licensee bonds.
From $100. Enter your amount.
Michigan licenses first-mortgage brokers, lenders, and servicers through the Department of Insurance and Financial Services under the Mortgage Brokers, Lenders, and Servicers Licensing Act — and MCL 445.1654 requires proof of financial responsibility: $25,000 for a broker who collects funds before closing or a lender, $125,000 for a servicer. 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.
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 license class requires, and an effective date — that is the entire application, and 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 — 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 Michigan Department of Insurance and Financial Services. Wet-ink original mailed whenever the state insists.
What it is and who needs it.
What the bond actually guarantees
Michigan regulates first-mortgage brokers, lenders, and servicers through the Department of Insurance and Financial Services under the Mortgage Brokers, Lenders, and Servicers Licensing Act, 1987 PA 173. MCL 445.1654 requires each applicant to post proof of financial responsibility — a corporate surety bond payable to the commissioner: $25,000 for a broker who receives funds from a prospective borrower before closing or for a lender, and $125,000 for a servicer.
It's a three-party arrangement: you (the principal), the surety carrier, and the State of Michigan (the obligee). The bond stands behind your conduct as a licensee — the origination, disclosure, and servicing rules that protect Michigan borrowers.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond files electronically through NMLS and must stay continuously in place for the life of the license; we track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
Submit the application with the bond amount your license class requires — the executed bond is generated the moment you pay, ready to file.
Start the application →Common questions.
Other Michigan bonds.
1st mortgage licensee bond, issued today.
0.6% of the bond amount, $100 minimum, with your exact price at the application. Enter your required amount and file the same day.