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

The blanket bond a corporation licensed as a New Jersey residential mortgage broker must obtain before doing business, under the New Jersey Residential Mortgage Lending Act. The Department of Banking and Insurance sets the amount — $150,000 at initial licensure, rising with closed loan volume — and the premium is 0.6% of the bond amount, $100 minimum. Any credit screen is a soft pull only — it never affects your score.

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Required before doing business as an NJ residential mortgage broker under N.J.S.A. 17:11C-63

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Amount set by DOBI regulation — $150,000 initially, up to $300,000 on closed loan volume

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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

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How it works

Apply to filed in one sitting.

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

NOW · ONLINE

Apply online

Company details, your state of incorporation and county, the bond amount DOBI requires, 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 electronically with your NJ residential mortgage broker license record. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the RMLA blanket bond covers

New Jersey licenses residential mortgage brokers under the Residential Mortgage Lending Act, P.L.2009, c.53 (N.J.S.A. 17:11C-51 et seq.). Before doing business, a business licensee must obtain a blanket bond in an amount and form prescribed by the Commissioner of Banking and Insurance — never less than $25,000 by statute, and set at $150,000 by regulation for an initial license.

The bond runs to the State for the benefit of any person injured by the wrongful act, default, fraud or misrepresentation of the business licensee — or of its qualified individual licensees, mortgage loan originators, other employees and agents. That is what makes it a blanket bond: one bond covers the whole licensed operation, not one originator.

It is not insurance for you — if the surety pays a claim, you repay the surety. The amount steps up with your closed loan volume after each annual report, and proof of the increase is due to the Department within 30 days, so we track your term and send renewal notices 60 and 30 days out.

N.J.S.A. 17:11C-63 · N.J.A.C. 3:15-3.1Section 13 of the New Jersey Residential Mortgage Lending Act requires a business licensee, prior to doing business as a residential mortgage lender or residential mortgage broker, to obtain a blanket bond in an amount and form prescribed by regulation of the commissioner but not less than $25,000, running to the State for the benefit of any person injured by the wrongful act, default, fraud or misrepresentation of the licensee or its qualified individual licensees, mortgage loan originators, employees or agents. N.J.A.C. 3:15-3.1 sets the amount at $150,000 for an initial license, applicable to the first $50,000,000 of closed loan volume, stepping to $200,000, $250,000 and $300,000 as volume passes $50,000,000, $75,000,000 and $100,000,000.

You need this bond if you're

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Applying for an NJ residential mortgage broker license as a corporation or LLC through NMLS

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Renewing a license whose bond amount has to step up after your annual report

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Adding New Jersey to a multi-state mortgage brokerage already licensed elsewhere

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Replacing a cancelled bond before DOBI suspends the license for lapsed coverage

One application, issued instantly.

These are the actual issuing fields — company details, state of incorporation, the bond amount, and an effective date.

Start the application →

FAQ

Common questions.

How much is the New Jersey mortgage broker bond?The premium is 0.6% of the bond amount, with a $100 minimum. On the $150,000 bond DOBI requires at initial licensure that works out to $900. Your exact price appears at the application, before you pay.

What bond amount does DOBI require?N.J.A.C. 3:15-3.1 sets $150,000 for an initial license, covering your first $50,000,000 of closed loan volume. It rises to $200,000 above $50,000,000, $250,000 above $75,000,000, and $300,000 above $100,000,000 — measured after each annual report.

Is this the same bond as the mortgage lender bond?Same statutory blanket bond, different license type and a different Propeller form. Use this page if your license is a residential mortgage broker license held by a corporation or LLC; there are separate forms for lenders, correspondent lenders, and individual or partnership applicants.

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.

Where do I file it?Electronically through NMLS, on your New Jersey Department of Banking and Insurance license record. The bond principal name must match the applicant’s full legal name exactly.

Related bonds

Other New Jersey bonds.

Get your RMLA broker bond today.

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

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Your premiumfrom $100

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