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Platinum Bonds Insurance Agency

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Surety Bond

Each mortgage lender, mortgage brokerage, mortgage broker, or mortgage loan originator must obtain or be covered by a surety bond. Required when: Application for a license or registration as a mortgage lender, brokerage, broker, or loan originator. Exemptions: Exemptions include banks, trust companies, savings and loa…

Bond amount"The bond amount is based on the dollar amount of mortgage loans originated, br…
State or jurisdictionSouth Dakota
ObligeeSouth Dakota Division of Banking

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: "The bond amount is based on the dollar amount of mortgage loans originated, br…. Other available requirements: "The bond amount is based on the dollar amount of mortgage loans originated, brokered, or serviced in South Dakota during the preceding calendar year: (1) Less than $25,000,000 requires a $25,000 bond; (2) $25,000,001 to $100,000,000 requi…. Exact options still depend on the obligee, state, and underwriting.

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2323 yearsHelping clients and agents
Overview

What it is.

Each mortgage lender, mortgage brokerage, mortgage broker, or mortgage loan originator must obtain or be covered by a surety bond. Required when: Application for a license or registration as a mortgage lender, brokerage, broker, or loan originator. Exemptions: Exemptions include banks, trust companies, savings and loa…

Who usually needs it

Each mortgage lender, mortgage brokerage, mortgage broker, or mortgage loan originator must obtain or be covered by a surety bond.

Pricing & timing

What to expect.

Generic pricing

Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger 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. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending on risk factors. Contact us for a specific quote.

Your quote determines the actual premium.

Typical timeframe

Credit-based approval — varies by bond type

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.”

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

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

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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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