The California Mortgage Lender Surety Bond is required by the State of California, Department of Business Oversight, in order to obtain a Mortgage Lender License.
First, the applicant must be an approved lender of one or more of the following before being considered:
The applicant must then submit the following via the online National Mortgage Licensing System (NMLS):
*Once the applicant has obtained their Mortgage Lender License, they will be required to maintain a California Mortgage Lender Surety Bond that covers the activities of the MLOs they employ. The bond amount will be based on the amount of origination and/or servicing activities conducted by the licensee in the preceding calendar year, as follows:
|Aggregate Loans||Bond Amount|
|$50,000,001 – $500,000,000||$100,000|
More information about these licensing requirements and processes can be found on the CA Department of Business Oversight website.
In order to obtain this bond, simply fill out our free online application! One of our licensed agents will contact you within one business day with a quote for the price to obtain your bond (the “premium”). If you choose to move forward after receiving your quote, we will have you sign any necessary paperwork and remit the premium payment, at which time we will file your bond via the online NMLS!
Why choose Surety1?
At Surety1, our agents work with over a dozen “A” rated surety markets to ensure we are finding you the lowest price for your bond. We’ve been issuing surety bonds since 2003 and our quality, reliable service has led us to an A+ rating by the Better Business Bureau! Located in California and licensed in all 50 states.