District of Columbia Mortgage Dual Authority License Bond
Dual Authority Mortgage brokers in D.C. must post a surety bond based on the total dollar volume of loans, as shown in the following table.
| Loan Volume | Bond Amount Required | Annual Premium |
| 0 - $1,000,000 | $12,500 | $100 |
| $1,000,001 - $2,000,000 | $17,500 | $105 |
| $2,000,001 - $3,000,000 | $25,000 | $150 |
| Over $3,000,000 | $50,000 | $300 |
Bond Details
- DC Mortgage Dual Authority License Bond – $12,500 bond – $100 per year
- DC Mortgage Dual Authority License Bond – $17,500 bond – $105 per year
- DC Mortgage Dual Authority License Bond – $25,000 bond – $150 per year
- DC Mortgage Dual Authority License Bond – $50,000 bond – $300 per year
- DC Mortgage Dual Authority License Bond – $200,000 bond – $1,200 per year
Overview
Mortgage companies that engage in both mortgage lending and mortgage brokering activity involving residential property in the District of Columbia are required to obtain a dual authority license and surety bond. The amount of the bond ranges from $12,500 to $200,000 and is issued on the Nationwide Mortgage Licensing System (NMLS).