MI 2nd mortgage licensee bonds.
$750 flat.
Michigan licenses secondary mortgage brokers, lenders, and servicers under the Secondary Mortgage Loan Act — and MCL 493.56 requires proof of financial responsibility with the license: a corporate surety bond payable to the commissioner, $125,000 for a licensee acting as a servicer. Ours is $750 flat, the price you see is the checkout price, and the bond issues the moment you pay. Any credit screen is a soft pull only — it never affects your score.
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Three steps. One sitting.
Secondary mortgage licensing bonds file in one pass. Here's the entire process:
Apply online
Business details, an effective date, and a term. That is the entire application — and any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
This bond is checkout-priced at $750 flat, 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. Wet-ink original mailed whenever the state insists.
What it is and who needs it.
What the bond actually guarantees
Michigan regulates secondary mortgage brokers, lenders, and servicers through the Department of Insurance and Financial Services under the Secondary Mortgage Loan Act, 1981 PA 125. MCL 493.56 requires proof of financial responsibility at application and renewal — $25,000 for a broker who receives borrower funds before closing or a lender, and $125,000 for a servicer. This bond is written at the $125,000 servicer level, which covers the full broker-lender-servicer license.
The bond is a corporate surety bond payable to the commissioner, conditioned on the licensee 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. Claims can be filed by the commissioner and by your borrowers, loan applicants, and loan servicing customers.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond expires no earlier than the license or registration does, so it 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
One application, issued instantly.
These are the actual issuing fields — business details, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Michigan bonds.
Finish your secondary mortgage license today.
$750 flat, issued the moment you pay, soft pull only. Free until issued.