Ohio third-party processing exemption bonds.
$300 flat.
A company that processes or underwrites mortgage loans for licensed originators can seek a letter of exemption under Ohio's Residential Mortgage Lending Act instead of licensing each employee. ORC 1322.32 still requires a corporate surety bond in favor of the Superintendent of Financial Institutions, floored at $50,000. Ours is $300 flat.
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How much does an Ohio third-party processing exemption bond cost?
$300 at the $50,000 amount, the same for every applicant.
Three steps. One sitting.
An NMLS exemption filing is one application, not a negotiation. Here's the entire process:
Apply online
Company details, ownership, and an effective date. No credit check.
Pay & e-sign
Bonds like this are among the thousands of bond types that issue right after purchase.
File with the Division
Your executed bond and power of attorney arrive by email, ready to file with the Division of Financial Institutions through NMLS. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Ohio's Residential Mortgage Lending Act (ORC Chapter 1322) generally requires individuals who process or underwrite residential mortgage loans to be licensed loan processors or underwriters, supervised by a licensed mortgage loan originator. ORC 1322.01(AA)(2)(h) lets employees of a third-party loan processing company skip that individual licensing when they perform only clerical or support duties under proper supervision — if their employer holds a letter of exemption from the Superintendent.
That letter of exemption does not remove the bonding requirement. ORC 1322.32 conditions RMLA activity in Ohio on a corporate surety bond in favor of the Superintendent of Financial Institutions, with a statutory floor of $50,000. A third-party processing or underwriting company operating under the exemption files at that $50,000 floor rather than a volume-scaled amount, because it is not itself originating loans.
It's a three-party arrangement: you (the principal), the surety carrier, and the Superintendent of Financial Institutions (the obligee), protecting Ohio borrowers harmed by a violation of the Act. It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay active for the life of your exemption filing, so we track it and notify you ahead of renewal.
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 $50,000 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 Division. Your executed bond and power of attorney arrive by email, ready to file with the Division of Financial Institutions through NMLS. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $300 at the $50,000 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. No credit check.
Start the application →Common questions.
Other Ohio bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
File your NMLS exemption bond today.
$300 flat, no credit check, bond often issued in the same sitting. Free until issued.