SD mortgage broker bonds.
From $100. Enter your amount.

South Dakota licenses mortgage brokers through the Division of Banking, and SDCL 54-14-24 requires a surety bond sized to the total dollar amount of loans originated by the licensee and its employees and agents — but never less than $25,000. The premium is 0.6% of the bond amount, $100 minimum, your exact price appears at the application, and the bond issues the moment you pay. Any credit screen is a soft pull only — it never affects your score.

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Required to hold a South Dakota mortgage broker license under SDCL 54-14-24

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Amount scales with your origination volume — the statutory floor is $25,000

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0.6% of the bond amount, $100 minimum — exact price at the application, issued the moment you pay

0.6% rate$100 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

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How it works

Three steps. One sitting.

Mortgage broker bonds are amount-priced, not queue-priced. Here is the entire process:

NOW · ONLINE

Apply online

Business details, your bond amount, an effective date, and a term. That is the entire application, and 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 with a $100 minimum, so your exact price is on screen before you pay — and the bond issues the moment you do.

SAME DAY

File through NMLS

Your executed bond and power of attorney arrive by email, ready to upload with your mortgage broker license application or renewal in NMLS. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

South Dakota requires a license for mortgage brokers, mortgage brokerages, mortgage lenders, and mortgage loan originators under SDCL 54-14-13, administered by the Division of Banking and filed through the nationwide mortgage licensing system. SDCL 54-14-24 requires the licensee to submit a surety bond with the application and to maintain it at all times.

The amount is not a flat number: the statute sizes the bond to the total dollar amount of loans originated by the licensee and its employees and agents, subject to a floor of $25,000. An originator employed by, or working exclusively for, a bonded licensee may be covered by that employer's bond rather than buying a separate one.

It is a three-party arrangement: you (the principal), the surety carrier, and the State of South Dakota (the obligee), with injured borrowers as protected parties. It is not insurance for you — if the surety pays a claim, you repay the surety, and the statute requires you to file a replacement bond immediately after any recovery. Aggregate liability is capped at the bond amount, and either party may cancel on thirty days' notice, so we track your term and send renewal notices 60 and 30 days out.

SDCL 54-14-24Section 54-14-24 of the South Dakota Codified Laws requires each mortgage lender, mortgage brokerage, mortgage broker, and mortgage loan originator to submit with any application, and maintain at all times, a surety bond in an amount that reflects the total dollar amount of loans originated by the licensee and the licensee's employees and agents, but not less than $25,000. The bond runs in favor of South Dakota and injured parties and is conditioned on the licensee's faithful performance under chapter 54-14 and on payment of amounts due to the state or another person while the bond is in force. It may be continuous, aggregate liability is capped at the bond amount, either party may cancel on thirty days' notice, and a licensee must file a replacement bond immediately after a recovery.

You need this bond if you're

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Applying for a South Dakota mortgage broker license — the bond is submitted with the application

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Renewing a mortgage broker or brokerage license through NMLS with the Division of Banking

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Growing your origination volume into a larger required bond amount

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A mortgage loan originator not covered by an employing licensee’s bond

One application, issued instantly.

These are the actual issuing fields — business details, the bond amount, an effective date, and a term. That is the entire application.

Start the application →

FAQ

Common questions.

How much is the South Dakota mortgage broker bond?The premium is 0.6% of the bond amount with a $100 minimum. At the $25,000 statutory floor that lands at the $100 minimum; larger volume-based amounts price off the same 0.6% rate. Your exact price appears at the application, before you pay.

What bond amount does South Dakota require?SDCL 54-14-24 sizes it to the total dollar amount of loans originated by you, your employees, and your agents, and never lets it fall below $25,000. Use the amount your Division of Banking requirement or NMLS record states.

Do I pay the bond amount?No. You pay the premium — 0.6% of the bond amount, $100 minimum. The bond amount is the surety’s maximum liability if a valid claim is made, not a deposit, and nobody holds your money.

Is there a credit check?If a credit screen runs on this bond, it is a soft credit pull only — never a hard inquiry, and it never affects your score. The 0.6% rate with the $100 minimum holds either way.

Do loan originators need their own bond?Not always. Under SDCL 54-14-24, an originator employed by or working exclusively for a licensee covered by a bond may be covered by that bond. Independent originators post their own.

Related bonds

Other South Dakota bonds.

Mortgage broker bond, issued today.

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

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