Kansas Mortgage Company License Bond
Sole proprietorships (individuals), corporations, partnerships, or any other form of entity, however organized, who intend to conduct mortgage business in Kansas as described above must obtain a license. Any entity desiring to conduct mortgage business with Kansas consumers under the Kansas Mortgage Business Act (KMBA) must file a new company application through NMLS for their principal place of business. Bond amount is based on the previous year's aggregate funded volume according to the following table:
| Aggregate Loan Amount | Bond Amount Required | Annual Premium |
| $0-$50,000,000 | $100,000 | $600 |
| Over $50,000,000 | $125,000 | $750 |
Overview
Licensees or applicants will provide a surety bond in the amount of $100,000. If the licensee or applicant originated or made more than $50,000,000 in Kansas mortgage loans during the previous calendar year, a $125,000 surety bond is required.
Kansas requires mortgage companies to obtain a surety bond as part of their licensing process. The bond protects consumers from potential financial harm resulting from the mortgage company's actions. The NNA has secured a $600 flat rate for bond amounts of $100,000 and a $750 flat rate for bond amounts of $125,000 for Kansas mortgage companies.