NJ mortgage servicer bonds.
0.6% of the bond amount.

New Jersey's Mortgage Servicers Licensing Act requires a licensed servicer to file a surety bond covering its main office and every branch office from which it services — a penal sum of $100,000 per office location — plus a fidelity bond and errors and omissions coverage. The premium is 0.6% of the bond amount, $100 minimum, priced at checkout. Any credit screen is a soft pull only — it never affects your score.

✓

Required to hold an NJ mortgage servicer license under N.J.S.A. 17:16F-34

✓

$100,000 per office location — main office plus every branch that services loans

✓

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

0.6% rate$100 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

Trusted by industry leaders

How it works

Apply to filed in one sitting.

No quote round-trip on the servicer bond — enter your penal sum, pay, and upload the executed bond to NMLS. Here is the whole thing:

NOW · ONLINE

Apply online

Company details, the penal sum for your office count, and an effective date. 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 — priced at checkout, so the bond issues the moment you pay. Your executed bond and power of attorney generate on the spot.

SAME DAY

File it through NMLS

Your executed bond arrives by email, ready to submit with your New Jersey mortgage servicer license record. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the servicer bond covers

New Jersey began licensing non-bank mortgage servicers with the Mortgage Servicers Licensing Act, P.L.2019, c.65 (N.J.S.A. 17:16F-27 et seq.). Under N.J.S.A. 17:16F-34, a servicer applicant or licensee files a surety bond covering its main office and any branch office from which it acts as mortgage servicer, in a penal sum of $100,000 per office location, together with a fidelity bond and evidence of errors and omissions coverage.

The bond is in a form approved by the Attorney General and is conditioned on performing your written agreements and commitments with or for mortgagors and mortgagees, accounting for all funds received in your capacity as a mortgage servicer, and conducting the business consistent with the Act. A damaged mortgagor may proceed on the bond against the principal or the surety, and the Commissioner may proceed on it to collect civil penalties.

It is not insurance for you — if the surety pays a claim, you repay the surety. The bond runs concurrently with the license period for the main office, aggregate liability never exceeds the penal sum, and after any recovery the principal must file a new bond. We track your term and send renewal notices 60 and 30 days out.

N.J.S.A. 17:16F-34Section 8 of the New Jersey Mortgage Servicers Licensing Act requires a mortgage servicer applicant or licensee, and any person exempt from servicer licensure as a residential mortgage lender, to file with the commissioner a surety bond written by a surety authorized to write bonds in this State covering its main office and any branch office from which it acts as mortgage servicer, in a penal sum of $100,000 per office location, along with a fidelity bond and evidence of errors and omissions coverage. The bond is in a form approved by the Attorney General and is conditioned on performing written agreements with or for mortgagors and mortgagees, accounting for all funds received as a mortgage servicer, and conducting the business consistent with the act. The bond runs concurrently with the license period for the main office and aggregate liability shall not exceed the penal sum.

You need this bond if you're

✓

Applying for an NJ mortgage servicer license for a main office and any branches

✓

Adding a branch office — each location adds $100,000 to the penal sum

✓

Renewing a servicer license whose bond runs concurrently with the license period

✓

Filing a replacement bond after a recovery or a cancellation notice

One application, issued instantly.

These are the actual issuing fields — company details, the penal sum, and an effective date.

Start the application →

FAQ

Common questions.

How much is the New Jersey mortgage servicer bond?The premium is 0.6% of the bond amount, with a $100 minimum. On a single-office $100,000 penal sum that works out to $600. Your exact price appears at the application, before you pay.

How do I calculate the penal sum?N.J.S.A. 17:16F-34 sets $100,000 per office location — your main office plus every branch office from which you act as a mortgage servicer. Two locations means a $200,000 penal sum, and so on.

Do I still need a fidelity bond and E&O?Yes. The same section requires a fidelity bond and evidence of errors and omissions coverage alongside the surety bond, in amounts keyed to the dollar volume of residential mortgage loans you service. We issue the surety bond; your fidelity and E&O come from your carrier.

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 either way.

Am I exempt if I already hold an RMLA lender license?Possibly — a residential mortgage lender licensed under the RMLA is exempt from servicer licensure while acting as a mortgage servicer, provided it meets the supplemental servicer bond, fidelity bond and E&O requirements of the same section. That filing has its own page.

Related bonds

Other New Jersey bonds.

File your servicer bond today.

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

Start application

Your premiumfrom $100

Apply now →