$60K Broker / $100K Lender
Loan brokers: $60,000 bond (SOS). Mortgage lenders: $100,000 bond (DFI). One $100K lender bond covers both first lien and subordinate lien licenses. Director may adjust based on volume.
IN DFI + Secretary of StateIC 24-4.4 & IC 23-2.5Same-Day Issuance
Indiana Mortgage Broker Surety Bond
Secure your Indiana loan broker or mortgage lender license with a surety bond from Surety One, Inc. — the nationwide leader in mortgage industry surety bonds. Broker bonds $60,000, lender bonds $100,000. Premiums individually determined by credit and financial review.
IN Loan Broker / Mortgage Lender Bond
$60K / $100K
By license type • Single bond covers 1st & subordinate lien • Premium based on credit
Loan Broker (SOS)$60,000
Mortgage Lender (DFI)$100,000
Exempt EntityPer Director
PremiumBased on Credit
ObligeeIN DFI / SOS
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is an Indiana Mortgage Broker Surety Bond?
Indiana mortgage professionals are regulated by a dual regulatory structure. The Indiana Department of Financial Institutions (DFI) licenses mortgage lenders under the First Lien Mortgage Lending Act (IC 24-4.4) and the Uniform Consumer Credit Code (IC 24-4.5), requiring a $100,000 surety bond. The Indiana Secretary of State, Securities Division, licenses loan brokers under the Loan Broker Act (IC 23-2.5), requiring a $60,000 bond.
Indiana offers a significant cost-saving provision: if you apply for both first lien and subordinate lien mortgage lending licenses, only one $100,000 bond is required to cover both license types. The Director may adjust the bond's penal sum based on the dollar amount of mortgage transactions originated.
The bond protects individuals who reside in Indiana when they agree to receive financial services. It must remain in effect for two years after the licensee ceases operations or ceases to employ licensed MLOs — one of the longer post-termination tail periods in the series.
The Three Parties
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PrincipalThe loan broker or mortgage lender (first lien, subordinate lien, or both) who purchases the bond and must comply with Indiana mortgage lending law.
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ObligeeThe Indiana DFI (for lenders) or the Indiana Secretary of State, Securities Division (for brokers) — the regulators requiring the bond.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with Indiana licensing law.
Dual Regulatory Structure
Indiana splits mortgage regulation between two agencies. The DFI regulates lenders (those who fund loans), while the Secretary of State regulates brokers (those who connect borrowers with lenders). If you both broker and lend, you may need bonds from both agencies. Surety One issues all Indiana mortgage industry bond types.
Bond Amount Requirements
Indiana Mortgage Bond Amounts by License Type
Bond amounts are set by statute, with the Director retaining authority to adjust lender bonds based on mortgage transaction volume.
Mortgage Lender Bonds (Department of Financial Institutions)
| License Type | Bond Amount | Notes |
|---|---|---|
| First Lien Mortgage Lender | $100,000 | IC 24-4.4-2-402.3 |
| Subordinate Lien Mortgage Lender | $100,000 | IC 24-4.5-3-503.3 |
| Both First Lien + Subordinate Lien | $100,000 (single bond) | One bond covers both license types |
| Exempt Entity (employing/sponsoring MLOs) | Per Director | IC 24-4.4-2-402.3; 750 IAC 9 |
Loan Broker Bond (Secretary of State, Securities Division)
| License Type | Bond Amount | Notes |
|---|---|---|
| Mortgage Loan Broker | $60,000 | IC 23-2.5; renewed annually |
Director May Adjust Lender Bond
The Director of the DFI may adjust the penal sum of the lender bond to reflect the dollar amount of mortgage transactions originated. If a claim reduces the bond, the licensee must notify the Director immediately and file a replacement bond within 30 days at least equal to the original amount. Apply now or call (800) 373-2804.
Indiana Licensing Requirements
Key Bond & Licensing Requirements
Indiana's dual regulatory structure means different requirements depending on whether you broker or lend. Here are the essential bonding details.
Dual Regulatory Agencies
DFI regulates mortgage lenders (IC 24-4.4, IC 24-4.5, 750 IAC 9). Secretary of State, Securities Division, regulates loan brokers (IC 23-2.5). Both use the NMLS for applications and bond filing.
Multiple Statutory Authorities
Lender bonds: IC 24-4.4-2-402.3 (first lien) and IC 24-4.5-3-503.3 (subordinate lien). Broker bonds: IC 23-2.5. Exempt entity bonds: IC 24-4.4-1-202(b)(8) with 750 IAC 9.
Lender Net Worth + AML
Lenders: $100,000 net worth, $50,000 liquid assets, reviewed/audited CPA financials, and AML/BSA policy with independent review. Brokers: no net worth requirement. QI: 2 years experience (lender), 3 years (broker).
NMLS Electronic Filing
All bonds are filed electronically through the NMLS (effective September 2016). FBI criminal background checks required for all control persons with 10% or more ownership.
2-Year Post-Termination Tail
The lender bond must remain in effect for 2 years after the licensee ceases operations or stops employing MLOs. Cancellation does not affect liability incurred while the bond was in effect. 30-day cancellation notice.
Consumer Protection
What Does This Bond Protect Against?
The Indiana mortgage surety bond protects Indiana residents who receive financial services from the licensee. The bond covers:
Statutory Noncompliance
Any noncompliance with IC 24-4.4 (First Lien Mortgage Lending Act), IC 24-4.5 (Uniform Consumer Credit Code), or IC 23-2.5 (Loan Broker Act) by the licensee or its employees.
Fraud & Misrepresentation
Acts of fraud, negligence, misrepresentation, or breach of contract by the licensee, its licensed mortgage loan originators, or sponsored agents.
Indiana Resident Protection
The bond specifically protects individuals who reside in Indiana when they agree to receive financial services from the licensee — a geographic nexus requirement.
Director Recovery
The Director may obtain satisfaction from the bond for expenses incurred, final orders issued, or final judgments recovered under the Act — providing direct regulatory enforcement through the bond.
How It Works
Get Your Indiana Mortgage Broker Bond in 4 Steps
Surety One makes obtaining your Indiana mortgage broker or lender surety bond fast and straightforward. Most bonds are issued the same business day.
Apply Online
Complete our mortgage 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 issue the bond on the appropriate Indiana form.
Filed via NMLS
Surety One files your Electronic Surety Bond through the NMLS. Your bond is immediately active for your DFI lender license or SOS broker license application.
Understanding Your Premium
How Is My Premium Determined?
Your premium — the actual amount you pay — is a percentage of your required bond amount. You do not pay the full bond amount. Your rate is individually determined through underwriting review.
| Underwriting Factor | How It Affects Your Premium |
|---|---|
| Required Bond Amount | Your license type determines the bond ($60K broker or $100K lender). The Director may adjust the lender bond. Higher amounts result in higher premiums. |
| Personal Credit Score | Your FICO score is a primary factor. Stronger credit profiles generally qualify for lower premium rates. |
| Financial Statements | For the $100K lender bond, personal and business financial statements are typically required. Indiana already requires CPA financials for lender licensing. |
| Industry Experience | IN requires 2 years experience for lender QIs and 3 years for broker Principal Managers. Your history may influence underwriting terms. |
| 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
Indiana Mortgage Broker Bond FAQ
Indiana loan brokers need a $60,000 bond. Mortgage lenders need a $100,000 bond covering both first lien and subordinate lien activities. Your premium is a percentage of the required amount, individually determined by credit, financials, and underwriting review. Apply for a free, no-obligation quote from Surety One.
No. If you apply for both the first lien and subordinate lien mortgage lending licenses with the DFI, only one $100,000 surety bond is required to cover both license types. This is a significant cost-saving provision for Indiana lenders engaged in both lien activities.
Indiana has a dual regulatory structure. The Department of Financial Institutions (DFI) licenses mortgage lenders under IC 24-4.4 and IC 24-4.5. The Secretary of State, Securities Division, licenses loan brokers under IC 23-2.5. Both use the NMLS for applications and electronic bond filing.
Mortgage lenders must maintain $100,000 net worth with at least $50,000 in liquid assets, verified by reviewed or audited CPA financials. Lenders also need an AML/BSA policy with independent review. Loan brokers do not have a net worth requirement, but must have a Principal Manager with 3 years of experience.
If the penal sum is reduced by payment of a claim or judgment, you must immediately notify the Director and file a new or additional bond within 30 days of the Director's notice. The replacement bond must be at least the amount of the bond before the claim was paid. Surety One can issue replacement bonds quickly.
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 for non-standard credit will be higher, but we work to find terms that fit each applicant's situation.
Indiana requires the lender bond to remain in effect for 2 years after the licensee ceases to offer financial services in Indiana or ceases to employ/sponsor licensed MLOs, whichever is later. The Director may waive or shorten this period at discretion. Cancellation does not affect liability incurred while the bond was in effect.
Indiana mortgage licenses expire December 31 each year and must be renewed before that date. Both lender bonds (DFI) and broker bonds (SOS) are continuous until canceled. The surety must provide 30-day written notice before cancellation. All notices must be submitted through the NMLS.
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.
IN Dual-Agency Specialists
Indiana's split between DFI and Secretary of State requires a surety that understands both agencies. We issue loan broker bonds, mortgage lender bonds, and exempt entity bonds — all filed seamlessly through the NMLS.
Same-Day Issuance
Most Indiana mortgage 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.
Multi-State Expertise
Operating in multiple states? We streamline your bonding across all 50 states with a single point of contact, ensuring compliance with each state's unique regulatory structure.
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.
