New Jersey Mortgage Servicer License Bond

A New Jersey mortgage servicer bond is required of individuals or business entities that receive payments from a borrower under the terms of a home loan. The New Jersey Department of Banking and Insurance requires mortgage servicers to acquire a $100,000 surety bond for each office location. The NNA has secured premiums of $6 per $1,000 in liability for all New Jersey mortgage bonds to obtain this bond without a credit check. The bond is issued in the Nationwide Mortgage Licensing System (NMLS).