Maryland Mortgage Lender Bond

The Maryland Mortgage Lender Bond is a type of surety bond and is one requirement to obtain a mortgage lender license in the state.  While the bond is required by the Maryland Commissioner of Financial Regulation, the license administration and license application is managed by the Nationwide Mortgage Licensing System (NMLS) and the surety bond is filed electronically directly to the NMLS.

Who Is Required to Have a Mortgage Lender License?

This license is required for any person (defined in Md. Code Ann., Fin. Inst. §1-101) who engages in the mortgage lending business (including the making or procuring of loans primarily for personal, family, or household use secured by a dwelling or residential real estate located outside of Maryland) as a lender, servicer, or broker. A complete list of the license requirements can be found here. The license authorizes the following activities:

All licensed lenders must provide a Maryland Mortgage Lender Bond The required amount of the surety bond depends on the volume of mortgage business performed in the previous 12 months. New licensees must provide the minimum bond amount.

• If the business volume is under $3,000,000, the minimum required bond amount is $50,000.
• If the business volume is between 3,000,000 and $10,000,000, the minimum required bond amount is $100,000.
• If the business volume is over $10,000,000, the minimum required bond amount is $150,000.

Click to Visit our State-by-State Guide to Mortgage industry Surety Bonds

How to Obtain a Maryland Mortgage Lender Bond

At Surety1.com we make it east to obtain the surety bonds you need. Our simple 3 step process is:

1. Complete our easy to navigate and secure online application¹
2. Receive your free, no obligation quote from one of our surety bond professional agents.²
3. Sign some paperwork and make payment (all major credit cards accepted).

Once these steps have been completed, your Maryland Mortgage Lender Bond will be filed electronically by Surety1.com to the NMLS.
<sup>1. The name on the surety bond application must match exactly the full legal name of license applicant.
2. Depending on the bond amount, additional underwriting information may be required by the surety company to gain approval for the bond.</sup> 

Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003. We also maintain an A+ rating from the Better Business Bureau.