Any person or business entity acting as a mortgage lender, which includes mortgage brokers, mortgage lenders (makers), and mortgage servicers. Required when: Required upon application for a new mortgage lender license or for the renewal of an existing license. Exemptions: Exemptions include banks, credit unions, trust…
Overview
What it is.
Any person or business entity acting as a mortgage lender, which includes mortgage brokers, mortgage lenders (makers), and mortgage servicers. Required when: Required upon application for a new mortgage lender license or for the renewal of an existing license. Exemptions: Exemptions include banks, credit unions, trust…
Who usually needs it
Any person or business entity acting as a mortgage lender, which includes mortgage brokers, mortgage lenders (makers), and mortgage servicers.
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.
StateMDBond amountThe bond amount is determined by the Commissioner based on the aggregate princi…Term lengthContinuousObligeeMaryland Commissioner of Financial RegulationRenewalThe bond amount is subject to recalculation at the time of license renewal based on the licensee's last four quarterly Mortgage Call Reports filed with the NMLS.Bond classLicense BondCategoryFinancial ServicesBondMaryland Mortgage Lender Licensee Surety BondStatutory referenceMaryland Code, Financial Institutions Article, § 11-508JurisdictionState
