Pennsylvania Mortgage Broker Bond

To get a mortgage license in Pennsylvania, you need a mortgage broker bond. The amount depends on your business. You file it through NMLS for the Pennsylvania DoBS. It is a standard license step.

Bond Amount
$100,000
Typical Premium
$1,000–$5,000/yr
Term
1 Year
Required By
PA Dept. of Banking and Securities (DoBS)
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What Is the Pennsylvania Mortgage Broker Bond?

Think of the Pennsylvania mortgage broker bond as a promise to borrowers and the state. Break a mortgage rule, and they can claim against the bond. You then repay the surety.

Bond amounts in Pennsylvania:

Who Needs This Bond in Pennsylvania?

How to Get Bonded — Step by Step

  1. Set up your NMLS record for Pennsylvania.
  2. Get your bond here — quick approval for most.
  3. Submit the bond in NMLS for the Pennsylvania DoBS.
  4. Receive your license and open for business.

Renewal & Continuous Bond Coverage

Your Pennsylvania mortgage license renews yearly in NMLS (by December 31). Keep the bond current. If you crossed into a new amount tier, raise the bond first.

Frequently Asked Questions

How much is the Pennsylvania bond my first year?

$50,000 in your first year, then $100,000 after that.

Does the Pennsylvania bond protect me?

No. The bond protects your customers and the state, not you. If a claim is paid, you repay the surety. The bond is not your own insurance.

How fast can I get bonded in Pennsylvania?

Most quotes come back fast, often within a day. Many bonds are issued the same day for good credit.

How much does the bond cost?

You pay a yearly premium — a small percent of the bond amount. Your rate depends mostly on your credit.

How a Surety Bond Works

A mortgage broker bond is a type of surety bond. The picture below shows the three parties and what happens if someone files a claim.

Diagram of how a surety bond works: the obligee requires the bond, the principal applies and signs an indemnity agreement, and the surety issues the bond; if the principal fails, the obligee files a claim, the surety investigates and may pay, and the principal reimburses the surety.

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This Mortgage Broker Bond in other states
California · Colorado · Florida · Georgia · Illinois · Maryland · Minnesota · New Jersey · Ohio · Texas · Washington
Other Pennsylvania surety bonds
Auctioneer Bond · Home Improvement Contractor Bond · Motor Vehicle Dealer Bond · Notary Public Bond

Related: All Pennsylvania 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.