Any person engaging in business as a mortgage broker, mortgage lender, or dual authority in the District of Columbia. Required when: Application for an original license or renewal of a license. Exemptions: Banks, trust companies, savings and loan associations, credit unions, insurance companies, and other entities spe…
Overview
What it is.
Any person engaging in business as a mortgage broker, mortgage lender, or dual authority in the District of Columbia. Required when: Application for an original license or renewal of a license. Exemptions: Banks, trust companies, savings and loan associations, credit unions, insurance companies, and other entities spe…
Who usually needs it
Any person engaging in business as a mortgage broker, mortgage lender, or dual authority in the District of Columbia.
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.
StateDCBond amountThe bond amount is determined by the total volume of loans in the previous year…Term lengthContinuousObligeeDistrict of Columbia Department of Insurance, Securities and BankingRenewalThe bond must be maintained continuously as long as the license is in force. Licensees must update the bond amount annually through the NMLS if their prior year's loan volume necessitates a higher penal sum.Bond classLicense BondCategoryFinancial ServicesBondMortgage Broker Surety BondStatutory referenceD.C. Official Code § 26-1103(i)JurisdictionState
