Georgia Residential Mortgage Bond

$150,000 fixed surety bond required by the Georgia Department of Banking and Finance (DBF) of every Residential Mortgage Broker and Mortgage Lender licensed in Georgia.

Bond Amount
$150,000
Typical Premium
$1,500–$7,500/yr
Term
Continuous
Required By
GA Department of Banking & Finance (DBF)
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What Is the Georgia Residential Mortgage Bond?

Under O.C.G.A. §7-1-1003, Georgia mortgage brokers and lenders must file a $150,000 NMLS surety bond as a condition of license issuance. Georgia uses a single fixed bond amount regardless of origination volume — one of the higher floor amounts in the country.

The bond protects Georgia consumers and DBF from financial harm caused by:

Who Needs This Bond in Georgia?

Individual MLOs are not separately bonded — they are sponsored under the company-level bond.

How Much Will the Bond Cost?

Georgia's $150,000 bond is significant. Premiums for clean-credit applicants run $1,500–$3,000/yr:

Personal CreditAnnual PremiumApprox. Rate
700+ (Excellent)$1,500 – $3,0001% – 2%
650–699 (Good)$3,000 – $4,5002% – 3%
600–649 (Fair)$4,500 – $6,0003% – 4%
Below 600 (Challenged)$6,000 – $7,5004% – 5%+

How to Get Bonded — Step by Step

  1. Apply for your bond — due to the bond amount, financials and indemnity are typically required.
  2. Underwriting — soft credit pull plus financial review for high-risk credit.
  3. Receive your quote within 24–48 hours.
  4. Pay annual premium; payment plans common for higher-risk accounts.
  5. NMLS ESB filing — surety files directly with NMLS, syncing to DBF.

Renewal & Continuous Bond Coverage

Georgia mortgage bonds are continuous and bill annually. DBF does not require tier upgrades since the amount is fixed at $150,000 for all volumes. Lapsed bonds result in immediate license deficiency — DBF treats this seriously, often suspending licenses within days of cancellation notice.

Frequently Asked Questions

Why is Georgia's bond amount so high?

Georgia adopted the $150,000 floor in response to enforcement findings during the post-2008 regulatory tightening. The state determined that smaller bonds were insufficient to make consumers whole on common claim types.

Does volume change my bond amount in Georgia?

No. The $150,000 amount is fixed for all volumes. This is unlike NMLS-tiered states (TX, CA, IL, NY, FL) that scale bonds with origination dollar volume.

Can a broker share a bond with a sister-company lender?

No. Each licensee files its own $150,000 bond. Sister-company arrangements don't satisfy DBF's per-licensee filing requirement.

How does Georgia's net-worth requirement interact with the bond?

Lenders must additionally demonstrate $250,000 minimum net worth (Brokers: $50,000). The bond and net-worth requirement are independent — both must be satisfied at all times.

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Related: All Georgia surety bonds · What is a surety bond? · How surety bond costs are calculated

Underwriting Disclosure. All surety bond applications are subject to underwriting review and approval by the issuing surety company. Quoted premiums are estimates only; final pricing is determined by individual underwriting factors, which may include personal and business credit history, financial statements, industry experience, and claims history. Many bonds qualify for instant online approval, while others may require additional documentation, financial review, or indemnitor signatures prior to issuance. SuretyBondly makes no representation, warranty, or guarantee of approval, eligibility, premium amount, bond form, or issuance timing. Bond amounts, forms, and requirements are governed by the applicable obligee and statutory authority and may change without notice. Information provided on this page is for general informational purposes only and does not constitute legal, financial, or tax advice.