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The New Jersey Residential Mortgage Lender Bond is required by the New Jersey Commissioner of Banking and Insurance. This is a type of surety bond and is just one of the requirements to obtain a Residential Mortgage Lender License in the state. The application process is administered by the Nationwide Mortgage Licensing System (NMLS). A New Jersey Residential Mortgage Lender Bond may be used for both Residential Mortgage Lender license applications and Mortgage Broker license applications. The bond ensures that the bond holder will faithfully comply with and abide by the provisions of N.J.S.A. 17:11C-51 and all rules and regulations of the New Jersey Licensed Lenders Act.

Who is Required to Have a  Residential Mortgage Lender License?

Any business entity, including a sole proprietorship, who for compensation or gain, or in the expectation of compensation or gain, either directly or indirectly takes a residential mortgage loanNew Jersey Residential Mortgage Lender Bond application, or offers, negotiates, originates, or acquires residential mortgage loans in the primary market. Residential mortgage loans include both first and second mortgage loans on New Jersey property. The cost of the required $150,000 surety bond is usually between 1% and 3% of the bond amount. Surety1 will shop its many markets to procure the right price at the right terms.

How Get a New Jersey Residential Mortgage Lender Bond

At we make it easy to apply for all your mortgage industry surety bonds:

  1. Complete our easy to navigate and secure online application 1
  2. Usually within one business day, review 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, the New Jersey Residential Mortgage Lender Bond will be shipped for an original signature. Once signed, the bond must be uploaded to the NMLS and the original mailed to the Department of Banking and Insurance.
1- The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
2. Given the size of the bond, additional underwriting information may be required by the surety prior to providing a quote. Your professional surety bond agent will work with you to obtain the necessary information to provide a competitive quote from any number of the dozen surety companies represented by is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. is the premier online provider of surety bonds nationwide since 2003. We also maintain an A+ rating from the Better Business Bureau.

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New Jersey Residential Mortgage Licensing Requirements and Fees:

  • Tangible net worth of at least $250,000
  • New Jersey Residential Mortgage Lender Bond in the minimum amount of $150,000
  • Criminal background check for owners, principals, officers, directors, partners, members and managers of LLCs, and shareholders owning 10 percent or more of business applicant
  • Identification of at least one officer, director, partner, member, owner or principal who must obtain a Qualified Individual Residential Mortgage Lender License. Individual qualifications include:
    • criminal background check,
    • national and state testing,
    • pre-licensure education,
    • credit report.
  • Documentation concerning corporate, partnership, limited liability company, or sole proprietorship organization;
    • foreign businesses require Certificate of Authority to do Business in New Jersey
      from NJ Division of Revenue
  • Certification of office location suitability

Total License costs: $1,300 including the NMLS processing fee. $36.26 will be added per FBI Criminal Background Check authorization. Fees collected through the NMLS ARE NOT REFUNDABLE.

All licensing fees are required by the obligee, not the surety company.

Click here to visit our state-by-state guide to mortgage industry bonds 

 CLICK HERE for additional licensing information from the State of New Jersey Department of Banking and Insurance.

New Jersey Residential Mortgage Lender Bond


How to Get Your New Jersey Residential Mortgage Lender Bond

  1. Complete an online application. It’s free and no-obligation.
  2. One of our surety experts will contact you with a firm quote and an agreement to sign.
  3. Provide payment and your signed agreement, and then you will receive your Surety Bond!

If you have any questions, please call us at 877-654-2327.

How to Get Bonded

1. Apply Online
Using our Free & Secure Application
2. Get Your Free Quote
Applications are No-Obligation
3. Get Your Bond
Most Bonds are Approved in 1-2 Business Days

Surety Bond Experts

Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.

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