$10,000 Bond Amount
The required surety bond amount is $10,000, payable to the State of Florida and conditioned upon compliance with Sections 494.001–494.0077.
Florida OFR Required
Chapter 494
Same-Day Issuance
Florida Mortgage Broker Surety Bond
Secure your Florida mortgage broker or lender license with a $10,000 surety bond from Surety One, Inc. — the nationwide leader in mortgage industry surety bonds. Competitive premiums individually determined based on your credit and financial profile.
Florida Mortgage Broker Bond
$10,000 bond
Premium individually determined by credit & financial review
Bond Amount$10,000
PremiumBased on Credit
ObligeeFlorida OFR
StatuteCh. 494, Fla. Stat.
TermContinuous
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is a Florida Mortgage Broker Surety Bond?
A Florida mortgage broker surety bond is a three-party agreement required by the Florida Office of Financial Regulation (OFR) as a condition of licensure under Chapter 494, Florida Statutes. The bond guarantees that the licensed mortgage broker or lender will comply with all applicable state laws governing mortgage brokerage and lending.
This bond is payable to the State of Florida and conditioned upon the licensee's compliance with Sections 494.001 through 494.0077. It must be continuously maintained in full force for the duration of the license.
The bond protects Florida consumers and the state treasury from financial harm resulting from a mortgage professional's violations of state licensing regulations, including fraudulent or unethical lending practices.
The Three Parties
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Principal The mortgage broker or lender who purchases the bond and is required to comply with Florida licensing law.
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Obligee The Florida Office of Financial Regulation (OFR) and the State of Florida — the entities requiring the bond for consumer protection.
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Surety Surety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance.
Important: NMLS Filing
Florida does not currently accept electronic surety bond submissions through the Nationwide Mortgage Licensing System (NMLS). Surety One will mail you the original executed bond for direct filing with the OFR.
Florida Licensing Requirements
Key Bond & Licensing Requirements
Florida maintains separate licenses for mortgage brokers, lenders, servicers, and loan originators. Here are the essential requirements for the mortgage broker and lender surety bond.
Office of Financial Regulation
The obligee is the Florida OFR, located at 101 E. Gaines Street, Tallahassee, FL 32399. They administer mortgage broker and lender licensing.
Chapter 494, Fla. Statutes
All bonding and licensing requirements fall under Chapter 494 of the Florida Statutes and are further specified in Florida Administrative Code Rule 69V-40.
Net Worth Requirements
Mortgage brokers must maintain a minimum net worth of $25,000. Mortgage lenders require a minimum net worth of $63,000 in addition to the surety bond.
NMLS Licensing
Applications are submitted through the Nationwide Multistate Licensing System (NMLS). Pre-licensing education (20 hours) and the SAFE Act exam are required.
Continuous Bond Term
The surety bond must be continuously maintained in full force and effect for the entire duration of the license. Annual license renewal occurs November 1–December 31.
Consumer Protection
What Does This Bond Protect Against?
The Florida mortgage broker surety bond holds licensees accountable for ethical conduct. Claims may be filed for violations including:
Excessive or Unnecessary Fees
Charging borrowers fees that are excessive, irrelevant, or avoidable in connection with a mortgage transaction.
Unaffordable Loan Approvals
Knowingly approving a borrower for a mortgage loan that exceeds their ability to repay.
Product Steering
Pressuring borrowers into specific loan products, including high-risk loans or those with unnecessarily high interest rates.
Application Fraud
Encouraging or assisting borrowers in using false or misleading information during the mortgage application process.
How It Works
Get Your Florida Mortgage Broker Bond in 4 Steps
Surety One makes obtaining your Florida mortgage broker surety bond fast and straightforward. Most bonds are issued the same business day.
Apply Online
Complete our mortgage broker bond application online or call us at (800) 373-2804. There's no cost and no obligation.
Get Your Quote
Our underwriters review your application and provide a competitive premium quote, typically within hours. We work with all credit profiles.
Purchase & Sign
Accept your quote, complete the indemnity agreement, and pay your premium. We offer flexible payment options.
Receive Your Bond
Surety One mails your original executed bond. File it with the Florida OFR to complete your licensing requirements.
Understanding Your Premium
How Is My Premium Determined?
Your premium — the actual amount you pay — is a percentage of the $10,000 bond amount. You do not pay the full $10,000. Your rate is individually determined through underwriting review of several factors.
| Underwriting Factor | How It Affects Your Premium |
|---|---|
| Personal Credit Score | Your FICO score is a primary factor. Stronger credit profiles generally qualify for lower premium rates. |
| Financial Condition | Your overall financial stability, including assets, liabilities, and net worth, is reviewed by the underwriter. |
| Industry Experience | Your professional history in the mortgage industry may be considered as part of the risk assessment. |
| Business Financials | For entity applicants, business financial statements may be requested as part of the underwriting process. |
| Claims History | Any prior surety bond claims or regulatory actions may influence the terms offered. |
Every Applicant Receives a Personalized Quote
Because premiums are individually determined, the only way to know your exact cost is to apply. Surety One provides free, no-obligation quotes — and we decline no application. We offer non-standard programs for applicants with impaired or limited credit. Apply now or call (800) 373-2804 for your personalized quote.
Common Questions
Florida Mortgage Broker Bond FAQ
The bond amount required by the Florida OFR is $10,000. Your premium — the actual cost you pay — is a percentage of that amount, individually determined based on your personal credit score, financial condition, and underwriting review. The only way to know your exact premium is to apply for a free, no-obligation quote from Surety One.
The Florida Office of Financial Regulation (OFR) requires the bond under Chapter 494, Florida Statutes. It is payable to the State of Florida and must be in place before a mortgage broker or lender license is issued.
The bond protects the State of Florida and mortgage consumers from financial losses caused by the licensee's violations of state law. This includes charging excessive fees, approving unaffordable loans, steering borrowers into unsuitable products, and encouraging application fraud.
Florida does not currently accept electronic surety bond submissions through NMLS. Surety One will mail you the original executed bond form. You are then responsible for filing it directly with the Florida Office of Financial Regulation at their Tallahassee office.
Most Florida mortgage broker bonds are underwritten and issued the same business day upon receipt of a completed application and satisfactory credit review. Surety One provides 24/7/365 application review and underwriter feedback.
Yes. Surety One declines no application. We offer non-standard surety bond programs for applicants with impaired credit, limited credit history, or other underwriting challenges. Premium rates will be higher, but we work to find terms that fit each applicant.
Florida issues separate licenses for brokers and lenders. Both license types may require a $10,000 surety bond. The key difference is in net worth requirements: mortgage brokers need $25,000 minimum net worth, while lenders need $63,000. Additionally, lenders must provide audited financial statements. Both bond types are available through Surety One.
The Surety One Advantage
Why Choose Surety One, Inc.?
Surety One is a national surety leader specializing in the bonding needs of mortgage professionals across all 50 states, Puerto Rico, and the U.S. Virgin Islands.
Mortgage Industry Specialists
We specialize in the surety and fidelity bonds required of mortgage brokers, lenders, servicers, and originators. Our underwriters understand Chapter 494 and Florida OFR requirements inside and out.
Same-Day Issuance
Most Florida mortgage broker bonds are issued the same business day. Our 24/7/365 underwriting team provides guaranteed same-day feedback on every submission.
A+ BBB Rated
Surety One carries an A+ rating with the Better Business Bureau in both our U.S. and Puerto Rico offices, reflecting our commitment to client satisfaction and ethical practices.
All Credit Accepted
We decline no application. Our non-standard programs provide access to bonding for applicants with damaged or limited credit histories. Everyone gets a fair review.
Licensed Nationwide
We write mortgage broker bonds in all 50 states. If you operate in multiple states, we streamline the process with a single point of contact for all your bonding needs.
Free Quotes, No Obligation
Application review and quoting are always free. There is no obligation to purchase. Contact us by phone, email, or live chat to explore your options.
