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Ohio Residential Mortgage Lending Act Surety Bond

Mortgage brokers, lenders, and servicers (registrants) conducting business in Ohio under the Residential Mortgage Lending Act. Required when: Required as a condition of obtaining and maintaining a Certificate of Registration to conduct mortgage business in the state. Exemptions: Entities exempted under ORC 1322.04, in…

Bond amount"0.5% of the aggregate loan amount of residential mortgage loans originated in …
State or jurisdictionOhio
ObligeeOhio Department of Commerce, Division of Financial Institutions

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

Amounts can vary

Selected requirement: "0.5% of the aggregate loan amount of residential mortgage loans originated in …. Other available requirements: "0.5% of the aggregate loan amount of residential mortgage loans originated in the immediately preceding calendar year, capped at $150,000. The minimum bond amount is $50,000, plus an additional $10,000 for each branch location in excess o…. Exact options still depend on the obligee, state, and underwriting.

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Overview

What it is.

Mortgage brokers, lenders, and servicers (registrants) conducting business in Ohio under the Residential Mortgage Lending Act. Required when: Required as a condition of obtaining and maintaining a Certificate of Registration to conduct mortgage business in the state. Exemptions: Entities exempted under ORC 1322.04, in…

Who usually needs it

Mortgage brokers, lenders, and servicers (registrants) conducting business in Ohio under the Residential Mortgage Lending Act.

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 depending on the specific bond type, state program, or underwriting requirements.

Your quote determines the actual premium.

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

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Helpful guidance, a real agency team, and a clear path from research to application.

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Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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