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New Jersey
Exempt Company Registration Bond

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Coverage Amount: $50,000
Term Length: 1 year
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New Jersey Exempt Company Registration Bond Guide

If you own an exempt company that employs mortgage loan originators (MLOs) in New Jersey, you’ll likely need this surety bond. 

Bond Overview

  • Purpose: To protect the public if a sponsored MLO breaks registration laws
  • Who Needs It: Mortgage lending companies that are exempt from state licensing
  • Regulating Body: The New Jersey Department of Banking and Insurance
  • Required Coverage: $50,000
  • Premium Rate: $500–$5,000, credit-based

Learn all about the bond requirements and process in this guide. 

What Is a New Jersey Exempt Company Registration Bond?

In New Jersey, some companies are exempt from mortgage licensing requirements. However, if they employ or sponsor mortgage loan originators (MLOs), an exempt company registration bond financially protects the public if an MLO breaks registration laws.

How Much Do Exempt Company Registration Bonds Cost in New Jersey?

$50,000 New Jersey exempt company registration bonds typically cost $500 for qualified applicants. However, surety underwriters determine exact rates based on personal credit score. 

Apply for your free quote now!

Bond Type
$50,000Exempt Company Registration Bond

SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees. 

Who Needs an Exempt Company Registration Bond? 

Mortgage lending companies can be exempt from the state licensing requirement if they are involved in mortgage loan origination solely through loan processing or underwriting functions.

However, the Commissioner of Banking and Insurance still requires exempt companies to register through NMLS and file a surety bond to protect clients from financial harm. 

How Do I Get My Bond?

Working with SuretyBonds.com is the fastest and easiest way to get your New Jersey exempt company registration bond. Just follow these quick steps: 

  1. Apply: Submit an online quote request form
  2. Quote: Receive your quote within one day
  3. Sign: Complete the indemnity agreement 
  4. Buy: Purchase the bond online 24/7

We’ll email you the bond shortly after purchase. Be sure to file the bond as instructed. 

If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance. 

How Does a New Jersey Exempt Company Registration Bond Work? 

An exempt company registration bond creates a financial contract between three parties: 

  1. Principal: You, the exempt company owner(s) filing the bond
  2. Obligee: The New Jersey Department of Banking and Insurance requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding the provisions of the New Jersey Residential Mortgage Lending Act and Administrative Procedure Act. 

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your exempt company registration bond, simply pay your renewal invoice when prompted. 

We’ll begin contacting you by phone and email 90 days before the expiration date. 

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