Minnesota residential mortgage servicer bonds.
From $750.
Looking for the Minnesota residential mortgage originator bond?
Minnesota licenses residential mortgage servicers through the Department of Commerce, and Minn. Stat. § 58.08, subd. 2 requires a surety bond or irrevocable letter of credit of not less than $125,000, tiered up to $300,000 as the unpaid principal balance you service grows. Ours is 0.6% of the bond amount.
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How much does a Minnesota residential mortgage servicer bond cost?
0.6% of the bond amount, from $750 at the $125,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The servicer bond is checkout-rated — enter your amount, pay, and post it to your NMLS record. Here is the whole process:
Apply online
Company details, any other trade names, 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 — 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 the servicer 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 servicer bond guarantees
Minnesota licenses residential mortgage servicers under Minn. Stat. ch. 58, administered by the Department of Commerce through NMLS. Section 58.08, subd. 2 requires a servicer applicant or licensee to submit a surety bond or irrevocable letter of credit in an amount not less than $125,000, and to keep it in force for the life of the license.
The penal sum is tiered to the unpaid principal balance of the residential mortgage loans you service: $125,000 for up to $10 million, $200,000 above $10 million, and $300,000 above $50 million. Cross a tier and the bond has to be increased to match.
The bond secures recovery of expenses, fines, and fees levied by the commissioner, along with losses or damages incurred by borrowers or other aggrieved parties from a servicer's noncompliance. It is not insurance for you — if the surety pays a claim, you repay the surety. 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 the servicer 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, trade names, 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 | 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 (this page) | 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 .
Servicer bond on your NMLS record today.
0.6% of the bond amount, issued the moment you pay. No credit check up to $250,000. Free until issued.