Illinois Exempt Entity Processor Registration Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $50,000 | 1 Year | $300 |
Illinois exempt independent loan processing entity registrants must maintain a $50,000 Electronic Surety Bond as part of the state registration requirements. The bond is filed through NMLS by a surety company authorized to conduct business in Illinois.
Cost of the Illinois Exempt Entity Processor Registration Bond
NNA Surety offers the $50,000 Illinois Exempt Entity Processor Registration Bond at a $300 annual premium. Complete this form to purchase it today.
Required Bond Amount
Illinois Administrative Code requires an exempt independent loan processing entity registrant to file and maintain a $50,000 electronic surety bond. Unlike the volume-based bond schedule applicable to certain other Illinois mortgage licensees and exempt companies, the exempt independent loan processing entity registrant amount is specifically set at $50,000.
How the Bond Works
The bond supports compliance with the Illinois Residential Mortgage License Act and applicable rules for the exempt entity processor registration. It provides financial recourse for covered losses or liabilities arising from violations associated with the principal's sponsored mortgage loan originators, subject to the bond terms and applicable law.
Principal: Illinois exempt independent loan processing entity registrant
Obligee: State of Illinois / Illinois Department of Financial and Professional Regulation
Surety: Surety company authorized to conduct business in Illinois
How to Get the Illinois Exempt Entity Processor Registration Bond
- Confirm that the applicant is seeking an Illinois Exempt Entity Processor Registration.
- Complete the online bond application through the NNA/Propeller affiliate link.
- Purchase the required $50,000 bond and pay the confirmed $300 annual premium.
- Have the authorized surety submit the Electronic Surety Bond through NMLS.
- Maintain the required bond coverage while the Illinois registration remains active.
Review the Illinois Residential Mortgage License Act administrative rules and IDFPR Residential Finance forms and bond resources for current requirements.
Important Compliance Note
The $50,000 amount is specifically required for exempt independent loan processing entity registrants. Do not substitute the separate loan-volume bond schedule used for other Illinois mortgage licensees or exempt-company registrations.
Get Your Illinois Exempt Entity Processor Registration Bond
Start your Illinois Exempt Entity Processor Registration Bond application online.
For assistance, call 855-215-2160.