MN mortgage originator exemption bonds.
0.6% of the bond amount.

Minnesota requires every state-licensed mortgage loan originator to be covered by a surety bond under Minn. Stat. § 58A.13. When the MLO works for a company that is exempt from the residential mortgage originator license, the exempt employer files this bond through NMLS to provide that coverage — sized to its origination volume. Ours is 0.6% of the bond amount, $100 minimum, 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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Covers the licensed MLOs of an exempt company under Minn. Stat. § 58A.13

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Amount tiered to origination volume — $125,000 to $300,000 per Minn. Stat. § 58.08, subd. 1a(c)

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0.6% of the bond amount, $100 minimum — exact price at the application

0.6% rate$100 minimumInstantissuance at checkoutA-ratedA.M. Best carriers

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How it works

Three steps. One sitting.

The exemption bond is checkout-rated — enter your amount, pay, and post the bond to your NMLS record. Here is the whole process:

NOW · ONLINE

Apply online

Company details, your bond amount, an effective date, and a term. That is the entire application — any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

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.

SAME DAY

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.

About this bond

What it is and who needs it.

What the exemption bond actually guarantees

Under Minnesota's S.A.F.E. Mortgage Licensing Act, every licensed mortgage loan originator must be covered by a surety bond (Minn. Stat. § 58A.13). An MLO who works for a company licensed under Chapter 58 rides on that employer's licensee bond — but a company that is exempt from residential mortgage originator licensing has no licensee bond, so it files this bond through NMLS to cover the state-licensed MLOs it employs.

It's a three-party arrangement: your company (the principal), the surety carrier, and the State of Minnesota, administered by the Department of Commerce (the obligee). The penal sum reflects the dollar amount of residential mortgage loans originated, using the tiers in Minn. Stat. § 58.08, subd. 1a(c) — $125,000 for up to $10 million in annual originations, scaling to $300,000 above $100 million.

It is not insurance for you — the bond answers for your MLOs' compliance with Minnesota's mortgage origination laws, and if the surety pays a claim, you repay the surety (the statute requires a replacement bond immediately after any recovery). We track the term and send renewal notices 60 and 30 days out so the bond never lapses off your NMLS record.

Minn. Stat. § 58A.13Section 58A.13 of Minnesota's S.A.F.E. Mortgage Licensing Act requires each mortgage loan originator to be covered by a surety bond. An MLO employed by a person subject to Chapter 58 may be covered by that employer's bond under Minn. Stat. § 58.08 — an exempt employer instead maintains its own bond covering its licensed MLOs, with a penal sum reflecting loans originated per the tiers in § 58.08, subd. 1a(c). Upon any recovery on the bond, a new bond must be filed immediately.

You need this bond if you're

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A company exempt from the MN residential mortgage originator license that employs state-licensed MLOs

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A bona fide nonprofit holding a certificate of exemption under Minn. Stat. § 58.05 that originates residential mortgage loans

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Registering or renewing your exempt company record in NMLS — the bond must stay continuously on file

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Moving up a volume tier — origination growth past $10M, $25M, or $100M raises the required bond amount

One application, issued instantly.

These are the actual issuing fields — company details, your bond amount, an effective date, and a term. That is the entire application.

Start the application →

FAQ

Common questions.

How much is the Minnesota mortgage originator exemption bond?The premium is 0.6% of the bond amount, $100 minimum. A $125,000 bond — the base tier — runs $750; $200,000 runs $1,200; $300,000 runs $1,800. Your exact price appears at the application, before you pay.

What bond amount do I need?Minnesota tiers the penal sum to annual residential mortgage origination volume under Minn. Stat. § 58.08, subd. 1a(c): $125,000 for up to $10 million, $150,000 to $25 million, $200,000 to $100 million, and $300,000 above that. Confirm your tier against your mortgage call report or with the Department of Commerce.

Why does an exempt company need a bond at all?The exemption is from the Chapter 58 residential mortgage originator license — not from MLO bond coverage. Minn. Stat. § 58A.13 requires every state-licensed mortgage loan originator to be covered by a surety bond, and when the employer holds no licensee bond, this exemption bond provides that coverage.

Is there a credit check?If a credit screen runs on this bond, it is a soft pull only — never a hard inquiry, and it never affects your score. The rate stays 0.6% of the bond amount, $100 minimum, either way.

Who requires the bond, and where do I file it?The Minnesota Department of Commerce, which administers mortgage origination licensing through NMLS. The bond is tracked against your exempt company record in NMLS — your executed bond arrives by email, ready to associate with your filing.

Related bonds

Other Minnesota bonds.

Keep your MLOs covered. Bond issued today.

0.6% of the bond amount, $100 minimum, issued the moment you pay. Soft pull only. Free until issued.

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