Wisconsin mortgage broker bonds.
$720.
Wisconsin licenses mortgage brokers through the Division of Banking at the Department of Financial Institutions, and Wis. Stat. 224.72(4)(am) requires the applicant to file a commercial surety bond of $120,000, payable to the division for the benefit of the people it served. At 0.6% of the bond amount, that prices at $720.
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How much does a Wisconsin mortgage broker bond cost?
$720 for the $120,000 bond: 0.6% of the bond amount.
Three steps. One sitting.
Mortgage broker license bonds file with the division through NMLS. Here's the entire process:
Apply online
Business details, an effective date, and a term. That is the application. No credit check.
Pay & e-sign
This bond is checkout-priced at 0.6% of the $120,000 bond — $720 — so it issues the moment you pay. Your executed bond and power of attorney generate on the spot.
File with the division
Your executed bond arrives by email, ready to upload to NMLS or file with the Division of Banking alongside your license application. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
A mortgage broker in Wisconsin originates residential mortgage loans for others rather than funding them, and is licensed under Wis. Stat. 224.72 by the Division of Banking at the Department of Financial Institutions through the Nationwide Multistate Licensing System.
Section 224.72(4)(am) requires the applicant to file with the division a commercial surety bond in the amount of $120,000 for a mortgage broker (a mortgage banker files $300,000), issued by a surety authorized to do business in Wisconsin. The bond secures your faithful performance of all duties and obligations as a mortgage broker and is payable to the division for the benefit of persons to whom you provided services. It cannot be terminated without at least 60 days' written notice to the division.
It is not insurance for you — if the surety pays a claim, you repay the surety. Applicants also show a minimum net worth ($100,000 for a mortgage broker). The bond has to stay continuously on file; 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 $120,000 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 arrives by email, ready to upload to NMLS or file with the Division of Banking alongside your license application. 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.
One application, issued instantly.
These are the actual issuing fields — business details, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Wisconsin mortgage license bonds.
We write 2 mortgage license bonds in Wisconsin. 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 ($120,000) (this page) | Wis. Stat. § 224.72(4)(am) | $120,000 | $720 |
| Mortgage Banker Bond ($300,000) | Wis. Stat. § 224.72(4)(am) | $300,000 | $1,800 |
Other Wisconsin bonds.
The same bond in nearby states.
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Post your $120,000 mortgage broker bond today.
0.6% of the bond amount — $720, issued the moment you pay. Free until issued.