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Platinum Bonds Insurance Agency

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Residential Mortgage Lender and Residential Mortgage Broker Surety Bond

Any person or business entity seeking a license to act as a residential mortgage broker, residential mortgage lender, or correspondent residential mortgage lender in New Jersey. Required when: Application for an initial license or the submission of an annual report indicating a change in closed loan volume requiring a…

Bond amount$150,000
State or jurisdictionNew Jersey
ObligeeNew Jersey Department of Banking and Insurance

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: $150,000. Other available requirements: "The initial bond amount is $150,000. Following the submission of each annual report, the amount is adjusted based on the previous year's closed loan volume: $150,000 for volume up to $50,000,000; $200,000 for volume between $50,000,001 an…. Exact options still depend on the obligee, state, and underwriting.

Google icon5.0 ★★★★★Google review profileBBB iconBBB A+ AccreditedView the agency profile
2323 yearsHelping clients and agents
Overview

What it is.

Any person or business entity seeking a license to act as a residential mortgage broker, residential mortgage lender, or correspondent residential mortgage lender in New Jersey. Required when: Application for an initial license or the submission of an annual report indicating a change in closed loan volume requiring a…

Who usually needs it

Any person or business entity seeking a license to act as a residential mortgage broker, residential mortgage lender, or correspondent residential mortgage lender in New Jersey.

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.

Platinum Bonds

Experience behind every bond.

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

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“Finally a company that understands what customer service is supposed to be.”

★★★★★

“My bond application was processed and received very quickly.”

★★★★★

“I highly recommend you do business with these folks.”

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BBB A+ Accredited

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23 years

Offering service to clients and agents alike.

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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