OH RMLA exemption bonds.
From $100. Enter your amount.

Some Ohio entities hold a letter of exemption under the Residential Mortgage Lending Act instead of an RMLA registration — but the mortgage loan originators they employ still have to be licensed and bonded. ORC 1322.32 covers those licensees either individually or under the employer's bond, on the same one-half of one per cent formula, with a $50,000 floor and a $100,000 cap. The premium is 0.6% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — it never affects your score.

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For letter-of-exemption holders and the originators they employ under ORC 1322.32

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Penal sum 0.5% of last year’s originations — $50,000 floor, $100,000 cap for exemption-letter licensees

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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 exemption bond — enter your penal sum, pay, and file with the Division. Here is the whole thing:

NOW · ONLINE

Apply online

Entity details, ownership, the penal sum your filing 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 — your exact price appears before you pay, and the bond issues the moment you do.

SAME DAY

File with the Division

Your executed bond arrives by email, ready to upload to NMLS or file with the Ohio Division of Financial Institutions alongside the letter of exemption.

About this bond

What it is and who needs it.

Exempt entity, licensed originators, one bond

Under the Ohio Residential Mortgage Lending Act (ORC Chapter 1322), some entities are not required to register and instead hold a letter of exemption from the Division of Financial Institutions. The exemption covers the entity — it does not remove the licensing obligation from the mortgage loan originators the entity employs.

ORC 1322.32 handles that case directly: a licensee employed by an entity holding a letter of exemption is covered by a corporate surety bond either individually or under the employer's bond, in favor of the Superintendent of Financial Institutions. The penal sum uses the same one-half of one per cent of the preceding calendar year's originations formula, with a $50,000 minimum and a $100,000 maximum for this class.

It is not insurance for the employer or the originator — if the surety pays a claim, it is repaid. Because the penal sum tracks last year's origination volume, the required amount can move at renewal; we track the term and send renewal notices 60 and 30 days out.

ORC 1322.32Section 1322.32 of the Revised Code, 'Corporate surety bond; notice of action or judgment,' requires a corporate surety bond in favor of the superintendent of financial institutions. Alongside the registrant requirement, it provides that a licensee employed by an entity holding a letter of exemption is covered by a bond either individually or through the employer's bond. The penal sum is computed as one-half of one per cent of the aggregate loan amount of residential mortgage loans originated in the immediately preceding calendar year, subject to a minimum of fifty thousand dollars and a maximum of one hundred thousand dollars for licensees covered under a letter of exemption. Confirm your computed penal sum with the Division of Financial Institutions.

You need this bond if you're

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An entity holding an RMLA letter of exemption that employs licensed mortgage loan originators

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A licensed originator employed by an exempt entity who is bonding individually rather than under the employer

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Renewing an exemption-letter filing whose penal sum was recomputed off last year’s originations

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Replacing a bond your current surety cancelled or declined to renew

One application, issued instantly.

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

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FAQ

Common questions.

How much is the Ohio RMLA letter of exemption bond?The premium is 0.6% of the bond amount, $100 minimum. The penal sum comes from ORC 1322.32 — one-half of one per cent of last year’s originations, at least $50,000 and no more than $100,000 for this class — so your exact price appears at the application.

What is a letter of exemption?It is the Division of Financial Institutions letter confirming an entity is not required to register under ORC Chapter 1322. The entity is exempt; the mortgage loan originators it employs still have to be licensed and bonded.

Does the originator or the employer post the bond?Either. ORC 1322.32 says a licensee employed by an entity holding a letter of exemption is covered individually or under the employer's bond — most employers carry one bond covering their licensed originators.

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.

Who is the obligee, and where does the bond go?The Superintendent of Financial Institutions. The executed bond arrives by email, ready to upload to NMLS or file with the Ohio Division of Financial Institutions alongside the letter of exemption.

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RMLA exemption bond, issued today.

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

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