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Nevada Mortgage Broker Bond

How much does a mortgage broker bond cost in Nevada?

SuretyBonds.com offers Nevada mortgage broker bonds for different costs depending on each applicant’s credit report. The cost of this specific surety bond is also determined by the mortgage broker’s annual loan production and is subject to underwriting.

Do you need a surety bond for a Nevada mortgatge banker license? Visit our mortgage banker page for more information about these bonds.

Bond Type Bond Amount Cost*
$50,000 Mortgage Broker Bond $20 million or less in annual loan production $50,000 Starts at $375 Apply Now
$75,000 Mortgage Broker Bond Greater than $20 million in annual loan production $75,000 Starts at $750 Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Why are mortgage brokers bonded?

Nevada mortgage broker surety bonds assure that if consumers are wronged in the process of receiving a loan, they have a safeguard from unprofessional acts of business and can be compensated for financial losses. Nevada mortgage broker bonds prevent the mortgage professional from doing the following:

  • approving the borrower for a loan that they cannot possibly pay off
  • encouraging buyers to engage in fraud during the application process
  • pressuring buyers into high-risk loans with high interest rates
  • establishing an interest rate based on something other than the borrower’s credit score
  • charging additional and unnecessary fees
  • targeting at-risk buyers

What’s the fine print?

Nevada mortgage broker surety bonds will remain continuous unless otherwise canceled. The state requires at least 60 days notice from the surety if the bond is terminated.

When filling out the bond form, mortgage brokers must enter the city and state in which business will be conducted.

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How to become a mortgage broker in Nevada

It is against the law in Nevada to own or be part of a business that is involved in borrowing money, approving loans and working directly with banks to access a consumer’s credit history without a proper license. To obtain a Nevada mortgage broker license, the applicant must:

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.

NH VT RI NJ DE MD DC MA CT HI AK FL ME NY PA VA WV OH IN IL WI NC TN AR MO GA SC KY AL LA MS IA MN OK TX NM KS NE SD ND WY MT CO UT AZ NV OR ID CA MI

Or, choose your state from the list below:

Additional Resources

Nevada Mortgage Broker Example Bond form

Nevada Chapter 645B - Mortgage Brokers and Mortgage Agents

Nevada Department of Business and Industry Division of Mortgage Lending

Mortgage Broker Frequently Asked Questions