North Carolina reverse mortgage lender bonds.
$600 flat.
Before a licensed lender can make reverse mortgage loans in North Carolina, it has to request authorization from the Commissioner of Banks and submit a $100,000 surety bond with that request. Ours is $600 flat — the price you see is the checkout price, and the bond issues the moment you pay. No credit check.
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How much does a North Carolina reverse mortgage lender bond cost?
$600 at the $100,000 amount, the same for every applicant.
Three steps. One sitting.
The reverse mortgage bond is a fixed statutory amount at a fixed price. Here is the entire process:
Apply online
Business details, your county, a short set of commercial questions, an effective date, and a term. No credit check.
Pay & e-sign
This bond is checkout-priced at $600 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with the Commissioner of Banks
Submit the executed bond with your reverse mortgage authorization request through NMLS. Wet-ink original mailed on request — the Commissioner accepts originals.
What it is and who needs it.
What the bond actually guarantees
North Carolina treats reverse mortgages as a separate authority layered on a lender license. Reverse mortgages are governed by Article 21 of Chapter 53 and the Banking Commission rules in 04 NCAC 03K. A licensed mortgage lender requests reverse mortgage authorization through NMLS, and a $100,000 surety bond must be submitted with that authorization request to the Commissioner of Banks.
The bond must be executed by an insurance company authorized to do business in North Carolina and not affiliated with the lender, and it is conditioned on the authorized lender’s compliance with Articles 19B and 21 of Chapter 53 and all rules adopted under them. That is the whole point: reverse mortgage borrowers are older homeowners drawing equity, and the bond backs the conduct rules written for them.
It is not insurance for you — if the surety pays a claim, you repay the surety. If a lender fails to keep the minimum bond in place, the Commissioner may suspend or revoke the authorization to engage in reverse mortgages. 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 $100,000 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; a longer term is the same price per year, chosen at checkout.
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
File with the Commissioner of Banks. Submit the executed bond with your reverse mortgage authorization request through NMLS. Wet-ink original mailed on request — the Commissioner accepts originals.
What sets the price
The premium is fixed at $600 at the $100,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields — business details, your county, the commercial questions, an effective date, and a term.
Start the application →Common questions.
North Carolina mortgage license bonds.
We write 5 mortgage license bonds in North Carolina. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Loan Broker Bond ($10,000) | N.C.G.S. § 66-108 | $10,000 | $100 |
| Mortgage Broker Bond (NMLS) | N.C.G.S. § 53-244.103 | $75,000 or more | From $450 |
| Mortgage Lender Bond (NMLS) | N.C.G.S. § 53-244.103 | $150,000 or more | From $900 |
| Mortgage Servicer Bond (NMLS) | N.C.G.S. § 53-244.103 | $150,000 or more | From $900 |
| Reverse Mortgage Lender Bond ($100,000) (this page) | 04 NCAC 03K · N.C.G.S. Ch. 53, Art. 21 | $100,000 | $600 |
Other North Carolina bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Reverse mortgage authorization, bonded today.
$600 flat, issued the moment you pay, no credit check. Free until issued.