The Indiana Loan Broker Bond is required to obtain and maintain a loan broker license in Indiana. The bond amount ranges from $50,000 to $75,000 based on loan origination volume, with $60,000 being the standard for brokers originating $5-20 million in loans annually. This bond protects consumers from fraud, misreprese…
Overview
What it is.
The Indiana Loan Broker Bond is required to obtain and maintain a loan broker license in Indiana. The bond amount ranges from $50,000 to $75,000 based on loan origination volume, with $60,000 being the standard for brokers originating $5-20 million in loans annually. This bond protects consumers from fraud, misreprese…
Who usually needs it
Loan brokers and mortgage brokers who procure residential mortgage loans from third parties for Indiana consumers. Anyone engaging in loan brokerage business in Indiana must be licensed through the Securities Division and maintain this surety bond.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license 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. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
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.
StateINBond amount$60,000ObligeeIndiana Secretary of State, Securities DivisionBond classLicense BondCategoryFinancial ServicesBondIndiana Loan Broker BondPlain descriptionThe Indiana Loan Broker Bond is required to obtain and maintain a loan broker license in Indiana. The bond amount ranges from $50,000 to $75,000 based on loan origination volume, with $60,000 being the standard for brok…Who needs this bondLoan brokers and mortgage brokers who procure residential mortgage loans from third parties for Indiana consumers. Anyone engaging in loan brokerage business in Indiana must be licensed through the Securities Division a…
FAQ
Common questions.
What is the bond amount for the Indiana Loan Broker Bond?
The Indiana Loan Broker Bond amount varies based on your loan origination volume: $50,000 if you originated less than $5 million in residential mortgage loans in the previous year, $60,000 if you originated $5-20 million, and $75,000 if you originated over $20 million. Most loan brokers require the $60,000 bond amount.
Who needs an Indiana Loan Broker Bond?
Anyone engaging in loan brokerage business in Indiana needs this bond. This includes loan brokers and mortgage brokers who procure residential mortgage loans from third-party lenders for Indiana consumers. The bond is required to obtain and maintain a loan broker license through the Indiana Secretary of State Securities Division and must be filed electronically through NMLS.
What statute requires the Indiana Loan Broker Bond?
The Indiana Loan Broker Bond is required under Indiana Code 23-2-5-4 and 23-2-5-5. These statutes mandate that loan brokers obtain a license from the Securities Division and provide evidence of a surety bond. The bond must be in favor of the state and secure damages from any violations by the licensee or its employees.
