Flat Broker / Variable Lender
Broker bonds are a flat $75,000. Lender bonds range from $100,000 to $500,000 based on MA aggregate loan volume. The Commissioner may increase lender bonds at any time up to the $500,000 cap.
MA Division of BanksMGL Ch. 255ESame-Day Issuance
Massachusetts Mortgage Broker Surety Bond
Secure your Massachusetts mortgage broker, lender, or loan originator license with a surety bond from Surety One, Inc. — the nationwide leader in mortgage industry surety bonds. Broker bonds $75,000 flat. Lender bonds from $100,000. Premiums individually determined by credit and financial review.
MA Mortgage Broker / Lender Bond
$75K – $500K
By license type & volume • MLO bonds $25K • Premium based on credit
Broker Bond$75,000 flat
Lender Bond$100,000 – $500,000
MLO (Individual)$25,000
PremiumBased on Credit
ObligeeMA Division of Banks
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is a Massachusetts Mortgage Broker Surety Bond?
A Massachusetts mortgage broker surety bond is a three-party agreement required by the Massachusetts Division of Banks (DOB), under the Office of Consumer Affairs and Business Regulation, as a condition of licensure under Massachusetts General Laws Chapter 255E. Bond requirements for brokers are codified in 209 CMR 42.06, and for lenders in 209 CMR 42.03.
Massachusetts uses a straightforward bond structure: $75,000 flat for mortgage brokers and $100,000 to $500,000 for mortgage lenders based on aggregate MA loan volume. The Commissioner may increase the lender bond at any time up to the $500,000 maximum based on the volume of the lender's mortgage business. Individual mortgage loan originators require a separate $25,000 bond.
The bond is for the exclusive use of the Commissioner of Banks for the protection of consumers in residential property transactions and to satisfy any past due Division costs, assessments, penalties, or fines. Massachusetts also requires the bond to be filed with the Treasurer and Receiver-General of the Commonwealth.
The Three Parties
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PrincipalThe mortgage broker, lender, loan originator, or exempt entity who purchases the bond and must comply with MGL Chapter 255E.
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ObligeeThe Commissioner of Banks, Massachusetts Division of Banks — the regulator requiring the bond for consumer protection.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with Massachusetts licensing law.
Commissioner's Discretionary Authority
The Commissioner of Banks may increase a mortgage lender's bond at any time to an amount up to $500,000 as shown to be necessary based on loan volume. This discretionary authority means lenders should be prepared for potential mid-term bond increases. Surety One can issue riders quickly to accommodate any Commissioner-directed increases.
Bond Amount Requirements
Massachusetts Mortgage Bond Amounts by License Type
Bond amounts are set by 209 CMR 42 and the Commissioner's regulatory bulletins. Brokers have a flat bond; lenders have volume-based bonds with Commissioner discretion.
Licensed Mortgage Professionals
| License Type | Bond Amount | Authority |
|---|---|---|
| Mortgage Broker | $75,000 (flat) | 209 CMR 42.06(2)(a) |
| Mortgage Lender (initial) | $100,000 minimum | 209 CMR 42.03(2)(a) |
| Mortgage Lender (maximum) | $500,000 | Commissioner discretion |
| Mortgage Loan Originator (individual) | $25,000 | Regulatory Bulletin 5.2-101 |
Exempt Entity Registrations
| Entity Type | Bond Amount |
|---|---|
| Exempt entity engaged in broker activities | $75,000 |
| Exempt entity engaged in lender activities (initial year) | $100,000 |
Bond Filed with Treasurer and Receiver-General
Massachusetts requires the bond to be filed with the Treasurer and Receiver-General of the Commonwealth — a unique requirement among the states. The bond is also submitted electronically through the NMLS. Surety One handles all filing requirements. Apply now or call (800) 373-2804.
Massachusetts Licensing Requirements
Key Bond & Licensing Requirements
Massachusetts has among the most rigorous experience requirements in the nation, paired with substantial bond and net worth mandates.
Division of Banks
The obligee is the MA Commissioner of Banks, Division of Banks, under the Office of Consumer Affairs and Business Regulation. Phone: (617) 956-1500.
MGL Ch. 255E & 209 CMR 42
Broker bonds under MGL Chapter 255E, § 2 and 209 CMR 42.06. Lender bonds under 209 CMR 42.03. MLO bonds under MGL Chapter 255F, § 12 and Regulatory Bulletin 5.2-101.
Tiered Net Worth
Brokers: $25,000 net worth (audited or reviewed CPA statement). Lenders: $200,000 net worth (audited CPA statement). Plus 5 years full-time mortgage experience required for all applicants.
NMLS Electronic Filing
All bonds are submitted electronically through the NMLS. The bond must also be filed with the Treasurer and Receiver-General. Bond renewals should be established to renew December 31.
License Inactivation on Cancellation
If the bond is canceled, the Commissioner may suspend all licenses and inactivate all MLO licenses employed by the entity. MLOs cannot originate until the bond is replaced. 30-day cancellation notice required.
Consumer Protection
What Does This Bond Protect Against?
The Massachusetts mortgage broker surety bond is for the exclusive use of the Commissioner of Banks. The bond provides protection for:
Consumer Protection
Protection of consumers in residential property transactions as defined in MGL Chapter 255E, § 1, including fraud, misrepresentation, and failure to honor written agreements.
Licensing Law Violations
Any violations of the Massachusetts mortgage licensing law by the licensee, its employees, or associated mortgage loan originators.
Division Costs & Penalties
The bond satisfies any past due Division of Banks costs, assessments, penalties, or fines owed by the licensee — a direct regulatory enforcement mechanism.
MLO Activity Coverage
For exempt entities, the corporate bond covers all activities of mortgage loan originators employed by or associated with the entity, providing broad protection.
How It Works
Get Your Massachusetts Mortgage Broker Bond in 4 Steps
Surety One makes obtaining your Massachusetts 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 issue the bond in the form prescribed by the Commissioner.
Filed via NMLS
Surety One files your Electronic Surety Bond through the NMLS and ensures the bond is properly filed with the Treasurer and Receiver-General.
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 ($75K brokers, $100K–$500K lenders, $25K MLOs). 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 | Given MA's bond amounts, personal and business financial statements are typically required. MA already requires CPA-prepared financials for licensing. |
| Industry Experience | MA requires 5 years of full-time mortgage experience. Your professional history may further 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
Massachusetts Mortgage Broker Bond FAQ
MA mortgage brokers need a flat $75,000 bond. Lenders need $100,000 to $500,000 based on MA loan volume. MLOs need $25,000. 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.
The Massachusetts Division of Banks (DOB), under the Office of Consumer Affairs and Business Regulation, requires the bond under MGL Chapter 255E and 209 CMR 42. The bond is filed electronically through the NMLS and with the Treasurer and Receiver-General of the Commonwealth.
Yes. The Commissioner may increase a mortgage lender's bond at any time to an amount up to $500,000 as shown to be necessary based on the volume of the lender's mortgage business in Massachusetts. This is a discretionary authority — the Commissioner reviews aggregate loan volume when making this determination.
Applicants must have at least 5 years of full-time mortgage loan experience (or part-time equivalent). Persons in control must have 3 years continuous full-time experience. Brokers need $25,000 net worth with audited or reviewed CPA financials. Lenders need $200,000 net worth with audited CPA financials.
Yes. Massachusetts requires individual MLOs to obtain their own $25,000 surety bond, continuous in duration, filed through the NMLS. If the MLO bond is canceled or terminated, the MLO's license becomes inactive and the originator cannot engage in loan origination until the bond is replaced or renewed.
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.
No. Massachusetts is not a "brick and mortar" state. Licensees are not required to maintain an office in Massachusetts. However, licensees without an MA office must designate a registered agent or attorney located in Massachusetts on whom lawful process may be served, per 209 CMR 42.09(2).
If the bond is canceled or terminated, the Commissioner may suspend all licenses and inactivate all MLO licenses employed by or associated with the entity. MLOs cannot engage in origination activity until the bond is replaced. The surety must notify the Commissioner at least 30 days before cancellation.
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.
MA Mortgage Bond Specialists
We specialize in all Massachusetts mortgage bonds — broker bonds, lender bonds, individual MLO bonds, and exempt entity bonds. Our underwriters know MGL 255E, 209 CMR 42, and the Division of Banks filing process inside and out.
Same-Day Issuance
Most Massachusetts 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.
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 requirements.
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.
