Any person or entity acting as a mortgage broker in the state of Wisconsin, which includes finding or negotiating residential mortgage loans for commission or monetary gain. Required when: Required as a condition of obtaining and maintaining a mortgage broker license. Exemptions: Depository institutions (banks, saving…
Overview
What it is.
Any person or entity acting as a mortgage broker in the state of Wisconsin, which includes finding or negotiating residential mortgage loans for commission or monetary gain. Required when: Required as a condition of obtaining and maintaining a mortgage broker license. Exemptions: Depository institutions (banks, saving…
Who usually needs it
Any person or entity acting as a mortgage broker in the state of Wisconsin, which includes finding or negotiating residential mortgage loans for commission or monetary gain.
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.
StateWIBond amount$120,000Term lengthContinuousObligeeWisconsin Department of Financial Institutions, Division of BankingRenewalThe bond is continuous but the license must be renewed annually through the Nationwide Multistate Licensing System (NMLS) between November 1 and December 31. The surety bond must remain in force to maintain the license.Bond classLicense BondCategoryFinancial ServicesBondMortgage Broker Surety BondStatutory referenceWis. Stat. § 224.72(4)(am)JurisdictionState
