Maryland Finance and Mortgage Broker Bonds

Maryland mortgage broker bonds are required for mortgage professionals to operate in the state. Learn more about these bonds and find the best rates online.
Search for your bond to get started!

Maryland Finance and Mortgage Broker Bonds

City of Baltimore Credit Hauling Bond

City of Baltimore Credit Hauling Bond

The Maryland City of Baltimore Credit Hauling Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
City of Baltimore
Bond Premium
Bond Amount:
$1-$100,000
Bond Duration
Bond Term:
12
Months
Commissioner of Financial Regulations Installment Loan Licensee Bond

Commissioner of Financial Regulations Installment Loan Licensee Bond

The Maryland Installment Loan Licensee Bond starts at $120 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
Commissioner of Financial Regulations
Bond Premium
Bond Amount:
$12,000
Bond Duration
Bond Term:
12
Months
Commissioner of Financial Regulations Debt Management Services License Bond

Commissioner of Financial Regulations Debt Management Services License Bond

The Maryland Debt Management Services License Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
Commissioner of Financial Regulations
Bond Premium
Bond Amount:
$10,000-$500,000
Bond Duration
Bond Term:
12
Months
Nebraska Department of Banking & Finance Installment Loan Bond

Nebraska Department of Banking & Finance Installment Loan Bond

The Nebraska Installment Loan Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
NE
Bond Terms
Nebraska Department of Banking & Finance
Bond Premium
Bond Amount:
$50,000
Bond Duration
Bond Term:
12
Months
Consumer Protection Division, Office of the Attorney General Structured Settlement Transferee Bond

Consumer Protection Division, Office of the Attorney General Structured Settlement Transferee Bond

The Maryland Structured Settlement Transferee Bond starts at $N/A plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
Consumer Protection Division, Office of the Attorney General
Bond Premium
Bond Amount:
$100,000
Bond Duration
Bond Term:
12
Months
Maryland Dept of Licensing And Regulations Money Transmitter Bond

Maryland Dept of Licensing And Regulations Money Transmitter Bond

The Maryland Money Transmitter Bond starts at $1500 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
Maryland Dept of Licensing And Regulations
Bond Premium
Bond Amount:
$150,000
Bond Duration
Bond Term:
12
Months
Maryland Division of Securities Investment Adviser Bond

Maryland Division of Securities Investment Adviser Bond

The Maryland Investment Adviser Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
Maryland Division of Securities
Bond Premium
Bond Amount:
$10,000
Bond Duration
Bond Term:
12
Months
Maryland State Highway Admistration Credit Hauling Bond

Maryland State Highway Admistration Credit Hauling Bond

The Maryland Credit Hauling Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
Maryland State Highway Admistration
Bond Premium
Bond Amount:
$1,000-$10,000
Bond Duration
Bond Term:
12
Months
State of Maryland Credit Services Business Bond

State of Maryland Credit Services Business Bond

The Maryland Credit Services Business Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
State of Maryland
Bond Premium
Bond Amount:
$50,000
Bond Duration
Bond Term:
12
Months
State of Maryland Mortgage Lender Bond

State of Maryland Mortgage Lender Bond

The Maryland Mortgage Lender Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
MD
Bond Terms
State of Maryland
Bond Premium
Bond Amount:
$25,000-$250,000
Bond Duration
Bond Term:
12
Months
United States Trustee US Trustee Program Nonprofit Budget and Credit Counseling Agency Bond

United States Trustee US Trustee Program Nonprofit Budget and Credit Counseling Agency Bond

The United States Trustee US Trustee Program Nonprofit Budget and Credit Counseling Agency Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!

Bond State
US
Bond Terms
United States Trustee
Bond Premium
Bond Amount:
$1-$100,000
Bond Duration
Bond Term:
12
Months

What are Maryland finance & mortgage broker bonds?

Finance and mortgage broker bonds are legally binding agreements between three parties:

The bonds provide a guarantee that licensed finance professionals conduct business in compliance with the regulations set forth in the Maryland Annotated Code

If the finance professional fails to comply with the regulations, the surety company will pay out financial losses to damaged parties up to the full bond amount. The finance professional is liable to reimburse the surety for any damages paid under the bond.

How much do Maryland finance & mortgage broker bonds cost?

The Maryland Department of Labor, Office of the Commissioner of Financial Regulation classifies all mortgage brokers and mortgage servicers as mortgage lenders. All mortgage lenders are required to post a Lender Licensee bond as part of the licensing process. The required bond amount varies depending on the lender’s aggregate mortgage loan volume the previous year:

  • Less than $3 million in mortgage lending: $50,000 surety bond
  • Between $3 million and $10 million in mortgage lending: $100,000 surety bond
  • More than $10 million in mortgage lending: $150,000 surety bond

The required bond costs for other finance bonds in Maryland are as follows:

  • Credit Hauling Bond: $3,000
  • Credit Services Business Bond: $50,000
  • Debt Management Bond: Up to $100,000
  • Consumer Loan Licensee Bond: Varies
  • Investment Advisor Bond: $10,000
  • Money Transmitter Bond: $150,000

The surety company issuing the bond determines your premium rate, which is the percentage of the total bond amount you pay as the premium. Premium rates for Maryland finance and mortgage broker bonds typically cost between 1% and 5% of the total bond amount. EZSurety has issued mortgage broker bonds in Maryland for premiums as low as $675.

During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history. Applicants with good credit generally receive the lowest rates, however, bad credit will not prevent you from securing a Maryland mortgage broker bond. EZSurety still offers competitive rates to individuals with low credit scores or other financial issues.

How to get your mortgage lender license in Maryland?

To become a licensed mortgage broker in Maryland, you must meet the following licensing requirements:

  1. Complete the criminal background check
  2. Submit your personal financial statements
  3. Provide a copy of your credit report
  4. Submit a copy of the trade name registration certificate from the Maryland Department of Assessments and Taxation
  5. Provide proof of three years of mortgage lending experience
  6. Submit your application through the Nationwide Multistate Licensing System & Registry (NMLS)
  7. Post the appropriate surety bond
  8. Pay the $1,000 licensing fees, $100 processing fee, and $36.25 background check fee

For information on obtaining other finance licenses in Maryland, you can visit the NMLS Resource Center.

How to Know if You Need a Surety Bond

You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.

Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.

Surety Bonds Online