Indiana Mortgage Broker Bond
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What Is an Indiana Mortgage Broker Bond?
Indiana mortgage loan brokers are required to get a bond to receive their license. The Indiana Secretary of State Securities Division (SOS) requires brokers to be bonded to protect their clients from potential fraud.
Indiana defines a mortgage broker as anyone who assists in getting a residential mortgage loan from a third party, regardless if the loan is accepted.
How Much Do Mortgage Broker Bonds Cost?
Mortgage brokers in Indiana are required by the SOS to maintain a $60,000 surety bond. Premium rates typically cost 0.75–3% of the total bond amount, starting as low as $450. You can save 25% on select bonds by choosing a multi-year term at checkout. Choose the bond you need below to get a free quote:
If you work as a mortgage professional in other states, we offer mortgage industry license bonds nationwide.
How Do I Get a Mortgage Broker Bond in Indiana?
Choosing SuretyBonds.com is the quickest and easiest way to get your Indiana mortgage broker bond. Just follow these four steps:
- Step 1: Apply for your bond online
- Step 2: Receive a free quote within one business day
- Step 3: Pay for your invoice online or over the phone
- Step 4: File the original bond form with the Indiana Secretary of State Securities Division
Once you purchase, we’ll file your official bond directly with the NMLS and provide an email copy for your records.
How Do I Renew My Indiana Mortgage Broker Bond?
These bonds remain active unless canceled by the surety or the principal. If either party decides to terminate the bond early, they must provide 30-days’ written notice to the Indiana SOS.
When your term expires, we’ll contact you to extend your bond for another term. It’s important to renew your bond to maintain active licensure. From there, here’s what our simple process looks like:
- Pay your premium online or over the phone
- Sign and submit any additional documentation, if required
- File renewal documentation with your obligee, if required
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