Any person or entity seeking to transact business as a mortgage broker in Iowa. Required when: Application for a mortgage broker license. Exemptions: Exemptions are listed in Iowa Code § 535B.2 and include banks, credit unions, insurance companies, and licensed attorneys.
Overview
What it is.
Any person or entity seeking to transact business as a mortgage broker in Iowa. Required when: Application for a mortgage broker license. Exemptions: Exemptions are listed in Iowa Code § 535B.2 and include banks, credit unions, insurance companies, and licensed attorneys.
Who usually needs it
Any person or entity seeking to transact business as a mortgage broker in Iowa.
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.
StateIABond amount$100,000Term lengthContinuousObligeeIowa Division of BankingRenewalThe bond is continuous but must be maintained as a condition of the annual license renewal. The bond amount is adjusted annually based on loan volume.Bond classLicense BondCategoryFinancial ServicesBondMortgage Broker Surety BondStatutory referenceIowa Code § 535B.9JurisdictionState
