Broker $50K / Lender $250K
Flat amounts by license type. Commissioner may adjust at renewal based on MS loan volume. Branch locations require additional bonds. Wholesale-only offices exempt from separate licensing.
MS Dept. Banking & Consumer Finance§ 81-18-11Same-Day Issuance
Mississippi Mortgage Broker Surety Bond
Secure your Mississippi mortgage broker or lender license with a surety bond from Surety One, Inc. — the nationwide leader in mortgage industry surety bonds. Broker bonds $50,000, lender bonds $250,000. Dual-purpose bond covering consumer protection and state enforcement costs.
MS Mortgage Broker / Lender Bond
$50K / $250K
By license type • Dual-purpose bond • Premium based on credit
Mortgage Broker$50,000
Mortgage Lender$250,000
Branch LocationsAdditional bond
PremiumBased on Credit
ObligeeState of Mississippi
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is a Mississippi Mortgage Broker Surety Bond?
A Mississippi mortgage broker surety bond is required by the Mississippi Department of Banking and Consumer Finance as a condition of licensure under the Mississippi S.A.F.E. Mortgage Act (Title 81, Chapter 18, § 81-18-11). Mississippi requires separate bonds for brokers and lenders, with lender bonds more than four times the broker amount.
Mississippi's bond is uniquely dual-purpose: it is in favor of the State of Mississippi, first, for the use, benefit, and indemnity of any person who suffers damage or loss, and second, for the payment of any civil penalties, criminal fines, or costs of investigation and prosecution incurred by the State, including local law enforcement agencies. This dual coverage is more comprehensive than most states.
The Commissioner determines bond amounts based on prior-year loan activity under 5 Miss. Code R. § 2-1.4, with separate volume-based schedules for brokers and lenders at renewal. Branch locations require additional bonds.
The Three Parties
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PrincipalThe mortgage broker or lender who purchases the bond and must comply with the Mississippi S.A.F.E. Mortgage Act.
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ObligeeThe State of Mississippi — the bond is in favor of the State for the dual purposes of consumer indemnity and enforcement cost coverage.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with Mississippi mortgage licensing law.
Dual-Purpose Bond — Unique to Mississippi
Mississippi's bond serves two explicit purposes: consumer indemnity (damage or loss from breach of contract or law violation) AND state enforcement funding (civil penalties, criminal fines, investigation/prosecution costs including local law enforcement). No other state in the series has this explicit dual-purpose structure.
Bond Amount Requirements
Mississippi Mortgage Bond Amounts
Bond amounts are set by the Commissioner based on loan activity. The Commissioner may adjust renewal amounts under 5 Miss. Code R. § 2-1.4 based on prior-year Mississippi residential mortgage loan volume.
| License Type | Bond Amount |
|---|---|
| Mortgage Broker | $50,000 |
| Mortgage Lender | $250,000 |
| Branch Locations | Additional bond required |
Volume-Based Renewal Adjustments
Under 5 Miss. Code R. § 2-1.4, renewal bond amounts for both brokers and lenders are based on prior-year Mississippi residential mortgage loan volume. Brokers may renew at initial amounts by submitting an original Continuation Certificate. Lender volumes include loans originated, brokered, funded, serviced, and/or owned. Apply now or call (800) 373-2804.
Mississippi Licensing Requirements
Key Bond & Licensing Requirements
Mississippi's dual-purpose bond structure, W-2 employee requirement for MLOs, and branch bond requirements create a distinctive Deep South licensing framework.
Dept. Banking & Consumer Finance
MS Department of Banking and Consumer Finance. Phone: (800) 844-2499. Email: consumerfinance@dbcf.ms.gov. P.O. Box 23729, Jackson, MS 39201. Bond in favor of the State of Mississippi.
MS S.A.F.E. Mortgage Act
Title 81, Ch. 18, § 81-18-11. Implementing regulation: 5 Miss. Code R. § 2-1.4 (renewal bond schedule). Commissioner authority: § 81-18-29. No 10-year felony conviction allowed.
W-2 Employees Only
MLOs must be W-2 employees of the licensee — not independent contractors. MLOs covered by employer's bond in lieu of individual bond. Net worth: $20K for one location + $5K per additional location.
NMLS + Documentation
All applications via NMLS. Business plan, proof of commercial zoning, company policies and procedures, and organizational chart required. Financial statements (assets, liabilities, capital/net worth).
January 1 – December 31
License period January 1 to December 31, not pro-rated. 60-day cancellation notice. Must immediately file new bond upon recovery on any action. Commissioner may require new bond when action commenced.
Consumer Protection
What Does This Bond Protect Against?
Mississippi's dual-purpose bond provides the most comprehensive coverage scope in the series, protecting both consumers and the state's enforcement apparatus.
Consumer Indemnity
First purpose: use, benefit, and indemnity of any person who suffers damage or loss as a result of the company's breach of contract or any obligation arising therefrom, or any violation of law.
State Enforcement Costs
Second purpose: payment of any civil penalties, criminal fines, or costs of investigation and/or prosecution incurred by the State of Mississippi, including local law enforcement agencies.
Immediate Bond Replacement
Immediately upon recovery on any action on the bond, the licensee must file a new bond. The Commissioner may also require filing of a new bond when any action is commenced on the existing bond.
S.A.F.E. Mortgage Act Compliance
Full compliance with Chapter 81-18 of the Mississippi Code, including negligence, misrepresentation, fraud, breach of contract, and all other provisions governing mortgage lending conduct.
How It Works
Get Your Mississippi Mortgage Broker Bond in 4 Steps
Surety One makes obtaining your Mississippi 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 prepare the S.A.F.E. Mortgage Act bond in favor of the State of Mississippi.
Filed via NMLS
Surety One files your Electronic Surety Bond through the NMLS. Your bond satisfies the Department's licensing requirement.
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 | Broker $50K, Lender $250K. Lender bonds carry substantially higher premiums due to the larger amount. |
| Personal Credit Score | Your FICO score is a primary factor. Stronger credit profiles generally qualify for lower premium rates. |
| Financial Statements | Lender bonds ($250K) require personal and business financial statements. Net worth of $20K minimum + $5K per additional location. |
| Industry Experience | Your professional history in the mortgage industry may be considered as part of the risk assessment. |
| 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.
Common Questions
Mississippi Mortgage Broker Bond FAQ
MS broker bonds are $50,000 and lender bonds are $250,000. The Commissioner may adjust renewal amounts based on prior-year MS loan volume. Your premium is a percentage of the required amount, individually determined by credit and underwriting review. Apply for a free, no-obligation quote.
Mississippi's bond is uniquely dual-purpose: first, for the use, benefit, and indemnity of any person who suffers damage or loss from the licensee's breach or violation; and second, for payment of civil penalties, criminal fines, and investigation or prosecution costs incurred by the State, including local law enforcement agencies.
Yes. Mississippi requires additional surety bonds for branch locations. Wholesale lending offices that have no direct consumer contact are not required to obtain a separate license. The branch bond requirement is separate from the principal office bond.
Yes. Mississippi requires that loan originators be W-2 employees of the licensee — not independent contractors. MLOs who are employees or exclusive agents of a licensee may be covered by the employer's bond in lieu of individual MLO bonds.
When an action is commenced on a licensee's bond, the Commissioner may require filing a new bond. Immediately upon recovery on any action on the bond, the licensee must file a new bond. This ensures continuous consumer and state protection.
Yes. Surety One declines no application. Given Mississippi's $250,000 lender bond, our non-standard programs are especially valuable. We work to find terms that fit each applicant's situation regardless of credit challenges.
The Mississippi Department of Banking and Consumer Finance requires the bond under the Mississippi S.A.F.E. Mortgage Act, § 81-18-11. The bond is filed electronically through the NMLS. The Department can be contacted at (800) 844-2499.
Mississippi mortgage licenses run from January 1 to December 31 and are not pro-rated for applications made during the license period. Bonds have a 60-day cancellation period. No felony convictions within the past 10 years are permitted for licensure.
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.
MS Dual-Bond Specialists
Mississippi's separate broker ($50K) and lender ($250K) bonds plus branch bond requirements demand experienced surety underwriting. We issue all MS mortgage bond types from a single point of contact.
Same-Day Issuance
Most Mississippi mortgage broker and lender 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. Given Mississippi's $250K lender bond, our non-standard programs are critical for applicants who may face challenges with other surety providers.
Deep South Expertise
Operating in the Deep South and beyond? 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.
