Minnesota residential mortgage originator bonds.
From $100.
Minnesota has no separate mortgage broker license. A broker that takes residential mortgage applications is a residential mortgage originator under Minn. Stat. § 58.02 and files this bond.
Minnesota licenses residential mortgage originators through the Department of Commerce in NMLS, and Minn. Stat. § 58.08, subd. 1a requires each licensee to file a surety bond of $125,000, tiered up to $300,000 as annual origination volume grows. Ours is 0.6% of the bond amount, $100 minimum.
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How much does a Minnesota residential mortgage originator bond cost?
0.6% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The originator bond is checkout-rated — enter your amount, pay, and post it to your NMLS record. Here is the whole process:
Apply online
Company details, your bond amount, an effective date, and a term. That is the application. No credit check up to $250,000.
Pay & e-sign
The premium is 0.6% of the bond amount, $100 minimum — checkout-priced, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.
Post it to your NMLS record
Minnesota tracks this bond in NMLS for the Department of Commerce. Your executed bond arrives by email, ready to associate with your company record — wet-ink original mailed on request.
What it is and who needs it.
What the originator bond guarantees
Minnesota licenses residential mortgage originators under Minn. Stat. ch. 58, administered by the Department of Commerce through NMLS. Section 58.08, subd. 1a requires an applicant or licensee to submit a surety bond issued by an insurance company authorized to do business in Minnesota, and to keep it in force for as long as the license is active.
The penal sum is tiered to origination volume: $125,000 for up to $10 million in closed residential mortgage loans, $150,000 above $10 million, $200,000 above $25 million, and $300,000 above $100 million. Move up a tier and the bond must be increased to match before the next renewal.
The bond secures recovery of expenses, fines, and fees levied by the commissioner, and losses incurred by borrowers as a result of a licensee's noncompliance with Chapter 58. It is not insurance for you — if the surety pays a claim, you repay the surety and file a replacement bond. 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
Post it to your NMLS record. Minnesota tracks this bond in NMLS for the Department of Commerce. Your executed bond arrives by email, ready to associate with your company record — wet-ink original mailed on request.
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 up to $250,000. 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.
These are the actual issuing fields — company details, your bond amount, an effective date, and a term. That is the application.
Start the application →Common questions.
Minnesota mortgage license bonds.
We write 3 mortgage license bonds in Minnesota. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Residential Mortgage Originator Bond (this page) | Minn. Stat. § 58.08, subd. 1a | Varies | From $100 |
| Residential Mortgage Originator Exemption Bond | Minn. Stat. § 58A.13 | Varies | From $100 |
| Residential Mortgage Servicer Bond | Minn. Stat. § 58.08, subd. 2 | $125,000 or more | From $750 |
Other Minnesota bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Originator bond on your NMLS record today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. No credit check up to $250,000. Free until issued.