New Jersey Mortgage Servicer License Bond

Bond Details

New Jersey Mortgage Servicer License Bond – $100,000 bond – $600 per year

Overview

A New Jersey mortgage servicer bond is required of individuals or business entities that receive payments from a borrower under the terms of a home loan. The New Jersey Department of Banking and Insurance requires mortgage servicers to acquire a $100,000 surety bond for each office location. The bond is issued in the Nationwide Mortgage Licensing System (NMLS).