Wisconsin Mortgage Banker Surety Bond
The Wisconsin Department of Financial Institutions (DFI) requires mortgage bankers to maintain a $300,000 mortgage banker bond as part of their licensing process, and the bond is submitted electronically through the NMLS system.
| Bond Amount Required | Annual Premium |
| $300,000 | $1,800* |
*All bond amounts greater than $250,000 are subject to underwriting approval. Applicants will be required to complete a credit authorization form and submit company financials to qualify.
Overview
The Wisconsin Department of Financial Institutions (DFI) requires mortgage bankers to obtain a $300,000 mortgage banker bond as part of their licensing process. The bond aims to protect consumers and ensure mortgage bankers are financially liable for any financial harm caused to individuals or entities. The NNA has secured a $1,800 flat rate for all Wisconsin mortgage bankers.