NJ mortgage lender bonds.
0.6% of the bond amount.
The blanket bond a corporation licensed as a New Jersey residential mortgage lender 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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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
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.
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 lender 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 lenders 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. One bond covers your whole licensed lending operation, which is why the statute calls it a blanket bond.
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.
You need this bond if you're
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 →Common questions.
Other New Jersey bonds.
Get your RMLA lender bond today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.