Missouri Mortgage Company License Bond
Flat Rates & No Credit Check
| Amount of Loans Brokered, Funded & Serviced | Bond Amount Required | Bond Term | Annual Premium |
| $0-$7,500,000 | $50,000 | 1 Year | $300 |
| $7,500,001-$15,000,000 | $50,000 | 1 Year | $300 |
| $15,000,001-$22,500,00 | $75,000 | 1 Year | $450 |
| $22,500,001-$30,000,000 | $100,000 | 1 Year | $600 |
| $30,000,001-$45,000,000 | $150,000 | 1 Year | $900 |
| $5,000,001- -$60,000,000 | $200,000 | 1 Year | $1,200 |
| Exceeds $60,000,001 | $250,000 | 1 Year | $1,500 |
Residential mortgage loan brokers are required to obtain a surety bond as part of their licensing process through the Division of Finance. The bond is intended to provide a level of financial protection to consumers who engage with the broker's services.
The bond amount is determined based on factors such as the broker's loan volume and financial standing, with minimum requirements ranging from $50,000 to $500,000. The bond must be obtained from a state-approved surety company. It's essential for brokers to maintain an active and valid bond throughout their licensing period to ensure ethical and lawful practices within the state.
No credit check or financials needed up to $1M in aggregate bonds. Your bond premium (your cost) is $6 per $1,000 of the bond amount.
Cost of the Missouri Mortgage Company License Bond
The cost of the $50,000-$250,000 Missouri mortgage company license bond is $300-$1,500 per bond term with NNA Surety. Get your bond online today.
How the Missouri Mortgage Company License Bond Works
The Missouri mortgage company license bond protects borrowers by holding licensed residential mortgage loan brokers financially accountable for complying with applicable state mortgage requirements.
The bond involves three parties:
Principal: Residential mortgage loan broker
Obligee: State of Missouri
Surety: Bonding company
A claim against the bond may be filed when a licensee fails to comply with covered requirements and a borrower sustains injury. The principal is responsible for reimbursing the surety for valid covered claims paid under the bond.
How to Get the Missouri Mortgage Company License Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the applicable bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your Missouri residential mortgage loan broker license.
Learn more about your Missouri surety bond options across the state.
Secure Your Missouri Mortgage Company License Bond
Stay on track with Missouri licensing requirements by securing your mortgage company license bond today. Complete this form or call 855-457-2196 to get bonded.