Mortgage Broker Bond - Indiana

The Indiana Securities Division requires mortgage brokers to post a $60,000 surety bond with the Nationwide Multistate Licensing System (NMLS). The cost of a mortgage lender bond depends on a review of their application by an underwriter. Applicants with good credit may pay as low as 1% of the total bond amount.

Bond Type	Bond Amount	Cost*
$60,000 Mortgage Broker Bond	$60,000	Starts at $600	GET A QUOTE

Why do I need this bond?

A mortgage broker bond is required due to the Indiana Loan Broker Act. These bonds protect consumers from financial loss due to fraud and other unethical practices committed by mortgage professionals. If there is a claim against the bond the surety will pay it up the full bond amount. However, the principal (mortgage broker) must then reimburse the surety.

What’s the fine print?

Indiana mortgage broker bonds are in effect for one year and must be renewed annually. The bond is in full effect for the year unless claimed against or cancelled. The surety has the right to cancel the bond if they give 30-days’ written notice to the Indiana Securities Division.

How to get an Indiana mortgage broker license

Applicants wishing to become a mortgage broker in Indiana must meet the following requirements:

Complete 20 hours of NMLS approved pre-licensure education courses
Submit to a criminal background check
Obtain a surety bond in the correct amount
Pay the $80 licensing fee

Mortgage Industry Surety Bonds Avaiable Nationwide

Many states have their own surety bond requirements for mortgage professionals. This means mortgage professionals who work in several states often have multiple surety bonds. Use the map below to learn more about mortgage bonds in other states.

Or, choose your state from the list below:

Additional Resources

Application Requirements

Indiana Loan Broker Act

Indiana Securities Division Contact Information

Indiana Mortgage Broker Bond

How much does a mortgage broker bond cost in Indiana?