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Michigan
Mortgage License Bond

400,000+ Bonds issued to 250,000+ satisfied customers.

Coverage Amount: $10,000 - $1,500,000
Term Length: 1 year
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Michigan mortgage industry bonds ensure that licensed mortgage professionals follow state laws and industry regulations. These surety bonds protect consumers from illegal and unethical mortgage lending practices. 

How Much Does a Mortgage Bond Cost in Michigan?

Bond requirements for mortgage professionals in Michigan vary based on the license type and annual loan volume. The cost of a Michigan mortgage industry license bond is typically a small percentage of the total bond amount. 

We work with the nation’s top surety providers to offer the lowest mortgage bond prices available. Qualified applicants often pay a rate of just 0.75–3% of the bond amount. However, pricing may vary based on personal credit score. 


Select the bond you need to get a free quote with no hidden fees: 

Bond Type
$50,000Mortgage Loan Originator Bond - CompanyPrincipal amount of mortgage loans closed or modified during preceding calendar year is less than $12,000,000
$150,000Mortgage Loan Originator Bond - CompanyPrincipal amount of mortgage loans closed or modified during preceding calendar year is between $12,000,000 and $23,999,999
$250,000Mortgage Loan Originator Bond - CompanyPrincipal amount of mortgage loans closed or modified during preceding calendar year is $24,000,000 or more
$10,000Mortgage Loan Originator Bond - IndividualFirst-time licensee or closed less than $12 million in mortgage loans during preceding calendar year
$25,000Mortgage Loan Originator Bond - IndividualClosed $12 million - $24 million in mortgage loans during preceding calendar year
$50,000Mortgage Loan Originator Bond - IndividualClosed $24 million or more in mortgage loans during preceding calendar year
$25,000Second Mortgage Broker, Lender, and/or Servicer BondBroker or Broker/Lender
$125,000Second Mortgage Broker, Lender, and/or Servicer BondServicer or Broker/Lender/Servicer
$25,000First Mortgage Broker, Lender, and/or Servicer BondBroker or Broker/Lender
$125,000First Mortgage Broker, Lender, and/or Servicer BondServicer or Broker/Lender/Servicer
$500,000Consumer Financial Services BondClass II and conducts money transmission activities with 50 or less locations/delegates
$1,500,000Consumer Financial Services BondClass I or Class II and conducts money transmission activities with more than 50 locations/delegates

Where to Buy a Michigan Mortgage Industry License Bond

The easiest way to get a Michigan mortgage license bond is online through SuretyBonds.com. With our industry-leading technology and service, we issue bonds faster than any other surety provider. 

Need to be bonded in multiple states? SuretyBonds.com is licensed to issue mortgage license bonds in all 50 states. 

How Do I Get a Mortgage Bond in Michigan? 

You can get your Michigan mortgage license bond quickly and easily with SuretyBonds.com. Just follow these four steps: 

  • Step 1: Apply for your bond online
  • Step 2: Receive a free quote within one business day (some bonds are available for instant purchase) 
  • Step 3: Pay for your invoice online or over the phone
  • Step 4: File the bond with the Michigan licensing office

We file most mortgage bonds electronically with the NMLS on the principal’s behalf. If your obligee requires the original document, select two-day, next-day or overnight shipping for your physical bond form. 

How Do I Renew My Mortgage Bond?

You must renew your Michigan mortgage license surety bond whenever the current term expires. Once you pay your SuretyBonds.com renewal invoice, you'll receive an email with instructions on how to keep your bond and license active with the NMLS.

How Do Michigan Mortgage License Bonds Work? 

A Michigan mortgage surety bond ensures that mortgage professionals will operate ethically and lawfully. If they fail to do so, harmed parties can file a claim to recover damages. The surety provider will pay the claim amount and the bondholder must reimburse the surety.

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

or

FREE Surety Bond Quote online