South Dakota mortgage lender bonds.
From $150.
A South Dakota mortgage lender licensed under SDCL 54-14-13 has to submit a surety bond with its application and maintain it at all times. Section 54-14-24 sizes the bond to the total dollar amount of loans originated by the licensee and its employees and agents, with a $25,000 floor. The premium is 0.6% of the bond amount.
Trusted by industry leaders
How much does a South Dakota mortgage lender bond cost?
0.6% of the bond amount, from $150 at the $25,000 minimum. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
Mortgage lender bonds are amount-priced, not queue-priced. Here is the entire process:
Apply online
Business details, your bond amount, an effective date, and a term. No credit check up to $50,000.
Pay & e-sign
The premium is 0.6% of the bond amount, so your exact price is on screen before you pay — and the bond issues the moment you do.
File through NMLS
Your executed bond and power of attorney arrive by email, ready to upload with your mortgage lender license application or renewal in NMLS. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
South Dakota licenses mortgage lenders — companies that make or fund residential mortgage loans — through the Division of Banking under SDCL 54-14-13, with residential applications filed in the nationwide mortgage licensing system. The bond is not a post-approval formality: SDCL 54-14-24 requires it to be submitted with the application and maintained for the life of the license.
The amount tracks your book. The statute sets it at an amount that reflects the total dollar amount of loans originated by the licensee and the licensee's employees and agents, and never below $25,000 — so a lender that grows its origination volume can be asked to increase the bond.
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. The bond is conditioned on faithful performance under chapter 54-14 and on paying amounts due while it is in force. It is not insurance for you — if the surety pays a claim, you repay the surety and must file a replacement bond immediately. We track the term and send renewal notices 60 and 30 days out.
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 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The term is set on the carrier’s application; the premium covers the period shown there.
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 through NMLS. Your executed bond and power of attorney arrive by email, ready to upload with your mortgage lender license application or renewal in NMLS. Wet-ink original mailed on request.
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 $50,000. 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 — business details, the bond amount, an effective date, and a term. That is the application.
Start the application →Common questions.
South Dakota mortgage license bonds.
We write 2 mortgage license bonds in South Dakota. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Mortgage Broker Bond | SDCL 54-14-24 | $25,000 or more | From $150 |
| Mortgage Lender Bond (this page) | SDCL 54-14-24 | $25,000 or more | From $150 |
Other South Dakota bonds.
The same bond in nearby states.
Price and requirements checked on the carrier’s application, . Page updated .
Mortgage lender bond, issued today.
0.6% of the bond amount, issued the moment you pay. Free until issued.