NJ mortgage broker bonds.
0.6% of the bond amount.
The RMLA blanket bond on the individual-or-partnership application form — the same bond a corporate brokerage files, executed by a sole proprietor or partnership. The Department of Banking and Insurance sets the amount at $150,000 for an initial license, 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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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:
Apply online
Applicant details, years in business, the bond amount DOBI requires, and an effective date. Any credit screen is a soft pull that never shows as a hard inquiry.
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.
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.
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 — including a sole proprietor or partnership — 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 licensee, its qualified individual licensees, mortgage loan originators, other employees and agents. This form exists because the surety executes the bond in the name of the individual or partnership rather than a corporation.
It is not insurance for you — if the surety pays a claim, you repay the surety. A broker's amount steps up with closed loan volume after each annual report, and proof of the increase is due to the Department within 30 days; we track your term and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — applicant details, years in business, the bond amount, and an effective date.
Start the application →Common questions.
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.