Ohio Residential Mortgage Lending Act Letter of Exemption Bond
Employees and mortgage loan originators (MLOs) working for credit union service organizations (CUSOs), depository institutions, and other entities holding a letter of exemption (LOE) under Ohio law must get a surety bond.
The Ohio Residential Mortgage Lending Act (RMLA) mandates this bonding requirement to ensure consumer protection against financial loss due to unethical practices.
Cost of an Ohio RMLA Letter of Exemption Bond
| Total Loan Volume Originated in Preceding 12 Months | Bond Amount | Annual Premium |
| $0-$10,000,000 | $50,000 | $300 |
| $10,000,001-$12,000,000 | $60,000 | $100 |
| $12,000,001-$14,000,000 | $70,000 | $150 |
| $14,000,001-$16,000,000 | $80,000 | $300 |
| $16,000,001-$18,000,000 | $90,000 | $450 |
| $18,000,001-$20,000,000 | $100,000 | $600 |
| $20,000,001-$22,000,000 | $110,000 | $660 |
| $22,000,001-$24,000,000 | $120,000 | $720 |
| $24,000,001-$26,000,000 | $130,000 | $780 |
| $26,000,001-$28,000,000 | $140,000 | $840 |
| $28,000,001-$30,000,000 | $150,000 | $900 |
| Exceeds $30,000,000 | $150,000 | $900 |
Get Your OH Residential Mortgage Lending Act Letter of Exemption Bond
NNA Surety can help you meet Ohio’s mortgage licensing requirements today. Complete this application with your information and payment details to download your bond and file it with the Superintendent of Financial Institutions. For more information, call us at 855-737-0193 or email us.
The Simple Bonding Process
View your price or request a free quote
Discover unbeatable value with coverage options tailored to your needs.
Sign your contract and pay the premium
Seal the deal and ensure protection and peace of mind for your business.
Receive your surety or fidelity bond
Expect a speedy turnaround. Our typical turnaround time is 24 hours or less.
Have Questions? Call or Chat With Us Today