Any person or entity engaging in the business of residential mortgage lending or residential mortgage loan brokering in North Dakota. Required when: Required as a condition of obtaining and maintaining a Residential Mortgage Lender license. Exemptions: Banks, credit unions, savings and loan associations, insurance com…
Overview
What it is.
Any person or entity engaging in the business of residential mortgage lending or residential mortgage loan brokering in North Dakota. Required when: Required as a condition of obtaining and maintaining a Residential Mortgage Lender license. Exemptions: Banks, credit unions, savings and loan associations, insurance com…
Who usually needs it
Any person or entity engaging in the business of residential mortgage lending or residential mortgage loan brokering in North Dakota.
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.
StateNDBond amount$50,000Term lengthContinuousObligeeNorth Dakota Department of Financial InstitutionsRenewalThe bond must be maintained continuously. Licensees must renew their license annually through the Nationwide Multistate Licensing System (NMLS) between November 1 and December 31.Bond classLicense BondCategoryFinancial ServicesBondResidential Mortgage Lender BondStatutory referenceN.D. Cent. Code § 13-12-07JurisdictionState
