Michigan 2nd mortgage registrant bonds.
$150.
A Michigan 2nd Mortgage Broker and Lender registration authorizes the same junior-lien brokering and lending as the license. MCL 493.56 sets the same proof of financial responsibility either way: a $25,000 corporate surety bond payable to the commissioner. At 0.6% of the bond amount, that prices at $150.
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How much does a Michigan 2nd mortgage registrant bond cost?
$150 for the $25,000 bond: 0.6% of the bond amount.
Three steps. One sitting.
The registration track files the same bond as the license track. Here is the entire process:
Apply online
Entity details, an effective date, and a term. That is the application. No credit check.
Pay & e-sign
This bond is checkout-priced at 0.6% of the $25,000 amount — $150 — so it 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, attached to your registration record.
What it is and who needs it.
What the bond actually guarantees
Michigan’s Secondary Mortgage Loan Act, 1981 PA 125, lets certain entities register with the Department of Insurance and Financial Services rather than take a license — the route used by FHLMC- and FNMA-approved sellers and servicers, GNMA-approved issuers and servicers, and subsidiaries or affiliates of depository financial institutions. A broker-and-lender registration authorizes arranging junior-lien loans and funding them.
MCL 493.56 is explicit that financial responsibility attaches to "a license or registration" — $25,000 at the broker-and-lender level. The bond is payable to the commissioner and conditioned on the registrant conducting its business as the act and rules require and paying all money that becomes due to borrowers, secondary mortgage loan applicants, and the commissioner.
It is not insurance for you — if the surety pays a claim, you repay the surety. A registration is not transferable and its bond must stay continuously in place; 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 $25,000 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; a longer term is the same price per year, chosen at checkout.
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 Michigan Department of Insurance and Financial Services, attached to your registration record.
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.
One application, issued instantly.
These are the actual issuing fields — entity details, an effective date, and a term. That is the entire application.
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 (this page) | 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) | MCL 493.159 | Varies | From $100 |
| Mortgage Loan Originator Company Bond | MCL 493.159 | Varies | From $125 |
Other Michigan bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your 2nd mortgage registration today.
0.6% of the $25,000 bond — $150 — issued the moment you pay, no credit check. Free until issued.