Michigan loan originator bonds.
From $100.
Every licensed Michigan mortgage loan originator must provide, or be covered by, a surety bond under MCL 493.159 of the Mortgage Loan Originator Licensing Act. The individual bond is tiered to your prior-year loan volume: $10,000, $25,000, or $50,000. The premium is 0.6% of the bond amount plus a $25 fee, $100 minimum.
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How much does a Michigan loan originator bond cost?
0.6% of the bond amount plus a $25 fee, from $100. 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 goes out the same day. Here is the whole thing:
Apply online
Your details, the bond amount your volume tier requires, and an effective date — that is the application. No credit check up to $50,000.
Pay & e-sign
The premium is 0.6% of the bond amount plus a $25 fee, $100 minimum — priced at checkout, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.
Sign & file the original
Your e-signed bond arrives by email the day you buy, and the wet-ink original follows by mail — sign it as principal, then file it with the Michigan Department of Insurance and Financial Services.
What it is and who needs it.
What the MLO bond covers
Michigan licenses individual mortgage loan originators under the Mortgage Loan Originator Licensing Act, 2009 PA 75. MCL 493.159 requires each licensed originator to provide a surety bond to the commissioner — or be covered by a bond their sponsoring employer files.
The individual bond is tiered to the Michigan mortgage loans you originated in the preceding year: $10,000 under $12 million, $25,000 from $12 million to $24 million, and $50,000 at $24 million or more.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay continuously in place while you hold the license; 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
Sign & file the original. Your e-signed bond arrives by email the day you buy, and the wet-ink original follows by mail — sign it as principal, then file it with the Michigan Department of Insurance and Financial Services.
What sets the price
The premium is 0.6% of the bond amount plus a $25 fee, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $50,000. 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 volume tier requires — the executed bond is generated the moment you pay, ready to sign and file.
Start the application →Common questions.
Michigan mortgage license bonds.
We write 11 mortgage license bonds in Michigan. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| 1st Mortgage Broker & Lender License Bond ($25,000) — NMLS | MCL 445.1654 | $25,000 | $150 |
| 1st Mortgage Broker License Bond ($25,000) — NMLS | MCL 445.1654 | $25,000 | $150 |
| 1st Mortgage Broker, Lender & Servicer Bond — NMLS | MCL 445.1654 | $25,000 or more | From $150 |
| 2nd Mortgage Broker & Lender License Bond ($25,000) — NMLS | MCL 493.56 | $25,000 | $150 |
| 2nd Mortgage Broker & Lender Registrant Bond ($25,000) — NMLS | MCL 493.56 | $25,000 | $150 |
| 2nd Mortgage Broker License Bond ($25,000) — NMLS | MCL 493.56 | $25,000 | $150 |
| 2nd Mortgage Broker Registrant Bond ($25,000) — NMLS | MCL 493.56 | $25,000 | $150 |
| 2nd Mortgage Broker, Lender & Servicer Bond ($125,000) — NMLS | MCL 493.56 | $125,000 | $750 |
| 2nd Mortgage Broker, Lender & Servicer Registrant Bond ($125,000) — NMLS | MCL 493.56 | $125,000 | $750 |
| Mortgage Loan Originator Bond (Individual) (this page) | MCL 493.159 | Varies | From $100 |
| Mortgage Loan Originator Company Bond | MCL 493.159 | Varies | From $125 |
Other Michigan bonds.
Price and requirements checked on the carrier’s application, . Page updated .
MLO bond, issued today.
0.6% of the bond amount plus a $25 fee, $100 minimum, with your exact price at the application. Enter your tier and file the same day.