Ohio RMLA exemption bonds.
From $300.

Mortgage loan originators employed by an Ohio holder of an RMLA letter of exemption still have to be licensed and bonded. ORC 1322.32 covers them individually or under the employer's bond, at one-half of one percent of originations, with a $50,000 floor and $100,000 cap. The premium is 0.6% of the bond amount.

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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 — your exact price appears at the application

0.6% rate$300 at the $50,000 minimumInstantissuance at checkoutNo credit check up to $100,000above that, a soft pull at most, never a hard inquiry

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Price

How much does an Ohio RMLA exemption bond cost?

0.6% of the bond amount, from $300 at the $50,000 minimum. Enter your amount in the calculator for the exact price.

How it works

Three steps. 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. No credit check up to $100,000.

INSTANTLY

Pay & e-sign

The premium is 0.6% of the bond amount — 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 percent 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 percent 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

After you buy

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 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.

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 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.

What sets the price

The premium is 0.6% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.

No credit check up to $100,000. Above that, the carrier may run a soft pull, which never affects your score.

Where a check runs, it decides approval; the rate is the same for everyone approved.

One application, issued instantly.

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

Start the application →

FAQ

Common questions.

How much is the Ohio RMLA letter of exemption bond?The premium is 0.6% of the bond amount. The penal sum comes from ORC 1322.32 — one-half of one percent 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?No credit check up to $100,000. Above that, the carrier may run a soft pull, which 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.

Which A-rated carriers underwrite these bonds?Typically Arch Insurance Company (A.M. Best A+) or Nationwide Mutual Insurance Company (A.M. Best A). Which one writes your bond depends on the bond type and your state. The carrier's name and official signature are printed on the bond you receive.

How do I contact Light RFP about this bond?Email insurance@lightrfp.com. It reaches the bond team at Light RFP Risk Management Services LLC (NY DFS License # PC-1978982). Write to us about quotes, applications, bond forms or certificates. We will respond within 24 hours.

Which license is yours

Ohio mortgage license bonds.

We write 2 mortgage license bonds in Ohio. Each license has its own bond, amount and price; pick the one your license calls for.

License bond	Required by	Bond amount	Price
Residential Mortgage Lending Act Bond	ORC 1322.32	$50,000 or more	From $300
RMLA Letter of Exemption Bond (this page)	ORC 1322.32	$50,000 or more	From $300

Related bonds

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Price and requirements checked on the carrier’s application, 13 October 2026. Page updated 15 October 2026.

RMLA exemption bond, issued today.

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

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