Any person or entity acting as a mortgage broker in Massachusetts, defined as negotiating or finding mortgages on residential property for others for compensation. Required when: As a condition of obtaining and holding a mortgage broker license. Exemptions: Banks, national banking associations, federally chartered cre…
Overview
What it is.
Any person or entity acting as a mortgage broker in Massachusetts, defined as negotiating or finding mortgages on residential property for others for compensation. Required when: As a condition of obtaining and holding a mortgage broker license. Exemptions: Banks, national banking associations, federally chartered cre…
Who usually needs it
Any person or entity acting as a mortgage broker in Massachusetts, defined as negotiating or finding mortgages on residential property for others for compensation.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMABond amount$75,000Term lengthContinuousObligeeMassachusetts Division of BanksRenewalThe bond remains in effect continuously but requires the licensee to submit an annual Continuation Certificate to the Division or maintain the bond through the NMLS, typically renewing by December 31st each year.Bond classMiscellaneous CommercialCategoryFinancial ServicesBondCorporate Surety BondStatutory referenceM.G.L. c. 255E, § 2; 209 CMR 42.06(2)(a)2JurisdictionState
