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Rhode Island
Third Party Loan Servicer Bond

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

Coverage Amount: $50,000
Term Length: 1 year
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Rhode Island Third-Party Loan Servicer Bond Guide

If you’re applying for a third-party loan servicer license in Rhode Island, you’ll need this surety bond. 

Bond Overview

  • Purpose: To protect the public from financial harm 
  • Who Needs It: Third-party loan servicer licensees
  • Regulating Body: The Rhode Island Department of Business Regulation, Division of Banking
  • 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 Rhode Island Third-Party Loan Servicer Bond?

The Rhode Island Department of Business Regulation, Division of Banking requires a $50,000 surety bond as part of the licensing process for third-party loan servicers in the state.  

Under the bond terms, loan servicers are held financially responsible for operating honestly and protecting customers from harm.

How Much Do Third-Party Loan Servicer Bonds Cost?

Rhode Island third-party loan servicer bonds cost a small percentage of the $50,000 coverage amount, typically $500–$5,000.


Exact rates vary based on personal credit score. Apply for your free quote now!

Bond Type
$50,000Third Party Loan Servicer Bond

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

How Do I Get My Bond?

SuretyBonds.com provides the fastest and easiest way to get a Rhode Island third-party loan servicer 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 upload the bond instantly to NMLS on your behalf. 

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

How Does a Loan Servicer Bond Work? 

A third-party loan servicer bond creates a legal contract between these three parties: 

  1. Principal: You, the loan servicer filing the bond
  2. Obligee: The Rhode Island DBR’s Division of Banking requiring the bond
  3. Surety: The provider issuing the bond

This holds you financially responsible for upholding all applicable provisions of Rhode Island General Laws § 19-14. 

If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety. 

How Do I Renew My Bond?

These bonds expire annually. To renew your third-party loan servicer bond, simply pay your renewal invoice when prompted. 

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

More Resources

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

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