MI 2nd mortgage servicer registrant bonds.
0.6% of the bond amount.
The Michigan 2nd Mortgage Broker, Lender and Servicer registration carries the full authority on junior-lien loans — and servicing is what moves the requirement up. MCL 493.56 sets proof of financial responsibility at $125,000 for a license or registration to act as a servicer, by corporate surety bond payable to the commissioner. At 0.6% of the bond amount, that prices at $750, 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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Three steps. One sitting.
Even at the $125,000 level this files in one pass. Here is the entire process:
Apply online
Entity 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 0.6% of the $125,000 amount — $750 — 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
Servicing is the activity Michigan bonds most heavily under the Secondary Mortgage Loan Act, 1981 PA 125 — a servicer collects payments and holds borrower money over the life of a junior-lien loan. MCL 493.56 therefore sets proof of financial responsibility at $125,000 for a license or registration to act as a servicer, against $25,000 at the broker-and-lender level. A broker-lender-servicer registration carries the full $125,000 figure.
The registration track itself is the route DIFS opens to FHLMC- and FNMA-approved sellers and servicers, GNMA-approved issuers and servicers, and subsidiaries or affiliates of depository financial institutions. 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. Claims may be filed only by the commissioner and by your borrowers, loan applicants, and loan servicing customers, and the bond has to 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 — entity details, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Michigan bonds.
Finish your 2nd mortgage servicer registration today.
0.6% of the $125,000 bond — $750 — issued the moment you pay, soft pull only. Free until issued.