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Washington D.C. Mortgage, Transmitter, Finance, Lender or Check Casher Bond

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How much does a mortgage broker or check casher bond cost in Washington, D.C.?

The required bond amount varies depending on the exact license type needed. The District of Columbia Department of Insurance, Securities and Banking Division Banking Bureau requires the following professionals to post surety bonds as a licensing requirement:

  • Mortgage lender/broker
  • Money transmitter
  • Check casher
  • Retail seller and sales finance company
  • Money lender

These bonds are all subject to underwriting consideration, which means a surety underwriter will use the bond's amount and a review of the applicant's credit and financial history to determine if and at what price a bond can be issued. Applicants should always verify the exact license and bond amount needed with the Securities and Banking Division Banking Bureau. The best way to find out exactly how much you’ll pay for your surety bond is to request your free surety bond quote now!

Bond Type
$5,000-$100,000Check Casher License Bond
$5,000-$250,000Money Lender License BondBased on number of locations
$12,500Mortgage Broker LicenseTotal volume of loans was $1,000,000 or less
$17,500Mortgage Broker LicenseTotal volume was more than $1,000,000 but less than $3,000,000
$25,000Mortgage Broker LicenseTotal volume was more than $2,000,000 but less than $3,000,000
$50,000Mortgage Broker LicenseTotal volume was more than $3,000,000
$12,500Mortgage Dual Authority License Bond Total volume of loans was $1,000,000 or less
$17,500Mortgage Dual Authority License Bond Total volume was more than $1,000,000 but less than $2000,000
$25,000Mortgage Dual Authority License Bond Total volume was more than $2,000,000 but less than $3,000,000
$50,000Mortgage Dual Authority License Bond Total volume was more than $3,000,000
$12,500Mortgage Lender License BondTotal volume of loans was $1,000,000 or less
$17,500Mortgage Lender License BondTotal volume was more than $1,000,000 but less than $2000,000
$25,000Mortgage Lender License BondTotal volume was more than $2,000,000 but less than $3,000,000
$50,000Mortgage Lender License BondTotal volume was more than $3,000,000
$200,000Mortgage Lender License BondBlanket Bond
$50,000-$250,000Money Transmitter License BondAmount increases by $10,000 per location

Ready to get bonded quickly, easily and accurately? Call 1 (800) 308-4358, or click here to connect with our team of surety bond experts.

Why do I need this bond?

By posting this Washington, D.C. surety bond, principals (mortgage lenders/brokers, money transmitters, check cashers, retail sellers, sales finance companies, and money lenders) pledge to work according to applicable provisions of the D.C. Official Code and D.C. Municipal Regulations, respectively:

If the principal fails to work according to the statutes referenced on the bond form, harmed parties can make a claim on the bond to recover financial loss up to the bond amount. The principal would then be required to reimburse the surety for any damages paid out.

Request additional information about D.C. money lender, broker and transmitter bonds online now!

What’s the fine print?

These bonds become effective on the date indicated on the bond form in support of a license issued to the principal by the District of Columbia Department of Insurance. The bond remains in full force and effect through the license period.

In accordance with prescribed laws, the bond cannot be canceled by the licensee or the surety except upon notice of the department via registered or certified mail with return receipt requested. Cancellation becomes effective 30 days after the department receives the notice.

How to become a mortgage lender, money transmitter, check casher, retail seller and sales finance company or money lender in Washington DC

This bond covers the following licenses in the District of Columbia:

  • Check casher
  • Mortgage lender/broker
  • Money lender
  • Money transmitter
  • Retail seller and sales finance company

*NOTE: Applicants must indicate the correct license type on the surety bond form.

Specific licensing requirements vary depending on the needed license type. Applicants should consult the Department of Insurance, Securities and Banking website for more information.

Ready to get started?

Call 1 (800) 308-4358 to talk with a Surety Expert