RI lender license bonds.
$300 on the $50,000 amount.
A lender licensed in Rhode Island — including mortgage lenders — files a $50,000 surety bond with the Department of Business Regulation, Division of Banking under R.I. Gen. Laws § 19-14-6, running to the state for the use of the state and of anyone with a cause of action against the licensee. The rate is 0.6% of the bond amount, $100 minimum — $300 at the statutory $50,000 — and the bond issues the moment you pay. Any credit screen is a soft credit pull only — never a hard inquiry.
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Three steps. One sitting.
The amount is statutory and the rate is fixed, so nothing waits on a quote. Here is the entire process:
Apply online
Business details, the owner, an effective date, and a term — that is the entire application. Any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
Your premium is already exact at the statutory $50,000, so the bond issues the moment you pay — executed bond and power of attorney on the spot.
File through NMLS
Your executed bond arrives by email, ready to attach to your lender license record for the Division of Banking. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
Rhode Island licenses lenders under chapter 19-14 of the General Laws through the Division of Banking, with applications and renewals handled on NMLS. Section 19-14-6 requires the applicant to file a bond, approved by the director, in the sum of fifty thousand dollars ($50,000) — the same figure the statute sets for third-party loan servicers and debt collectors.
The bond runs to the state for the use of the state and of any person who may have cause of action against the obligor. You are the principal, the carrier is the surety, and Rhode Island is the obligee; borrowers harmed by a violation of the licensing chapter can recover against it.
It is not insurance for you — if the surety pays a claim, you repay the surety. The bond must stay continuously on file for the life of the license, and the surety has to give the director advance notice before cancelling. We track the 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 — business details, the owner, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other Rhode Island bonds.
Finish your lender license today.
0.6% of the bond amount, $100 minimum — $300 at the statutory $50,000, issued the moment you pay. Free until issued.