Maryland Mortgage Lender Bond

Get a real-time quote in minutes.
Free Quotes In Minutes

Get a free quote online with a soft credit pull.

#1 Bond Writer

As the nation's largest volume bond producer, we negotiate the best rates.

100% Money Back Guarantee

Your bond will be accepted, or we’ll refund your payment in full.

The Maryland Office of Financial Regulation is responsible for monitoring licensing compliance for mortgage lenders. A mortgage lender is defined as any person who acts as a mortgage broker, makes mortgage loans, or serves as a mortgage servicer. These requirements are established in the Maryland Code and Court Rules Title 11. A licensing requirement is an active surety bond. 

This surety bond is an agreement between three parties: 

  • Principal: The mortgage lender or originator that needs to get the bond.
  • Obligee: The entity requiring the principal to get bonded.
  • Surety: The company that issues the bond.

The purpose of the surety bond is to ensure that a person impacted by a mortgage lender’s violation of the established rules is fairly compensated. After the surety investigates a claim and deems it to be valid, the claimant is compensated accordingly. The principal must reimburse the surety for the full amount of the claim. 

A valid claim is costly for the principal, but avoiding claims against the bond is straightforward. According to our customers, you can avoid claims by complying with the state’s rules and regulations.

How Much Does a Mortgage Lender Bond Cost in Maryland?

The cost of a Maryland mortgage lender bond is between $500 to $75,000. This is based on the required bond amount of $50,000 to $750,000 as determined by the Commissioner. 

The cost of the bond is typically 1% to 10% of the total bond amount required. This cost is also referred to as the bond rate or the bond premium. Use this chart to estimate your bond cost before applying. 

Maryland Mortgage Lender Bond Cost by Credit Score

Surety Bond Amount

700 or Higher

600-699

599 or Below

$50,000
(loan volume $5 million or less) 

$500 - $1,500

$1,500 - $2,500

$2,500 - $5,000

$100,000
(loan volume between $5,000,001 and $25,000,000)

$1,000 - $3,000

$3,000 - $5,000

$5,000 - $10,000

$250,000
(loan volume between $25,000,001 and $100,000,000)

$2,500 - $7,500

$7,500 - $12,500

$12,500 - $25,000

$500,000
(loan volume between $100,000,001 and $250,000,000)

$5,000 - $15,000

$15,000 - $25,000

$25,000 - $50,000

$750,000
(loan volume more than $250,000,000)

$7,500 - $22,000

$15,000 - $25,000

$25,000 - $50,000


Some of our customers are interested in learning about the factors impacting how much a bond costs. When determining the cost of the bond, we consider the applicant’s industry experience, credit scores, finances and bond history.

How to Get a Mortgage Lender Bond in Maryland

1. Apply For Your Bond

Obtaining a Maryland mortgage lender bond bond has three easy steps. To begin, apply for your new bond using one of our two convenient application methods. 

  1.  Apply for a bond online – Access the online application 24/7. Often, our customers complete the brief form in only a few minutes. 
  2. Call us at (888) 592-6631 – If you prefer personal assistance while applying or have questions, our bond experts are happy to assist you.

When applying, you will need:

  • Bond name (Maryland Mortgage Lender Licensee Bond)
  • Bond amount ($50,000 to $750,000)
  • Email and contact information

2. Get a Quote

Our customers benefit from a quick bond quote delivered to their inboxes instantly after applying. As you review the quote, please let us know if we need to make corrections. We can review your bond quote with you over the phone, if requested.

We provide instant bond quotes via email to our valued customers. Spend a few minutes reviewing your quote. Our bond experts are happy to go over the quote with you upon request. Please let us know if you discover any errors that need to be adjusted.

3. Purchase Your Bond

You can conveniently sign the paperwork and make your payment online. After taking this step, the original bond will be delivered to you via email.

Maryland Mortgage Lender Bond Requirements

When applying for a Maryland mortgage lender license, an electronic surety bond must be submitted through the Nationwide Multistate Licensing System (NMLS). The Maryland Office of Financial Regulation oversees and enforces licensing requirements for mortgage lenders and loan originators.

To comply with these requirements, applicants must obtain the Maryland Mortgage Lender Licensee Bond. This continuous bond remains in effect until canceled. The surety company must provide a 90-day written notice to both the obligee (the Maryland Office of Financial Regulation) and the principal (the licensee) before cancellation.

If you have any questions regarding the definition and role of mortgage lenders in Maryland, the required bond amount, etc., please contact us

A customer recently called us with a question about the required bond amount for a mortgage lender in Maryland. She appreciated the time we took answering her question fully, and she conveniently applied for her bond during that same phone call.

How to Get Your Mortgage Lender License in Maryland

The licensing process for Maryland mortgage lenders is completed via the Nationwide Mortgage License System. The following items are required to apply for a license:

  • Application
  • Surety bond
  • Registered agent
  • Financial statements 
  • Credit report
  • FBI criminal background check
  • Qualifying individual
  • Certificate of Authority/Good Standing
  • Verification of experience
  • Business plan
  • Business continuity plan
  • Internal policies
  • Document samples
  • Management chart
  • Organizational chart
  • Formation documents
  • Volume of business statement
  • Trust account authorization

Sources

Nationwide Mortgage Licensing System. (n.d.). Checklist compiler. https://mortgage.nationwidelicensingsystem.org/slr/SitePages/Checklist-Compiler.aspx

Maryland Department of Labor, Office of Financial Regulation. (n.d.). Office of Financial Regulation. https://www.dllr.state.md.us/finance/

Maryland Office of Financial Regulation. (n.d.). Mortgage lender license electronic surety bond form. https://mortgage.nationwidelicensingsystem.org/slr/StateForms/MD_Mortgage%20Lender%20License%20ESB_v1.pdf

Maryland Office of Financial Regulation. (n.d.). Surety bond form. http://mortgage.nationwidelicensingsystem.org/slr/StateForms/MD5-surety-bond-form.pdf

Maryland Code Court Rules. (n.d.). Maryland code and court rules. https://govt.westlaw.com/mdc/Browse/Home/Maryland/MarylandCodeCourtRules?guid=N5E85C5809B6C11DB9BCF9DAC28345A2A&originationContext=documenttoc&transitionType=Default&contextData=(sc.Default)

From Our Customers

Ready to Get Started?

Get a real-time quote today. You’ll be bonded in minutes, not days!