Percentage-Based Formula
Bond amount = 0.5% of aggregate nationwide residential mortgage loan volume from the preceding calendar year. Floor $50,000, ceiling $150,000, plus $10,000 per additional branch.
OH Div. Financial InstitutionsORC Ch. 1322Same-Day Issuance
Ohio Mortgage Broker Surety Bond
Secure your Ohio RMLA Certificate of Registration with a surety bond from Surety One, Inc. — the nationwide leader in mortgage industry surety bonds. Bond amounts from $50,000 to $150,000, calculated at 0.5% of aggregate loan volume. Premiums individually determined by credit and financial review.
OH Residential Mortgage Lending Act Bond
$50K – $150K
0.5% of aggregate loan volume • Premium based on credit
Formula0.5% of loan volume
Minimum Bond$50,000
Maximum Bond$150,000
Branch Add-On+$10,000 each
ObligeeOH Superintendent
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is an Ohio RMLA Surety Bond?
An Ohio Residential Mortgage Lending Act surety bond is a three-party agreement required by the Ohio Department of Commerce, Division of Financial Institutions (DFI), as a condition of registration under the Ohio Residential Mortgage Lending Act (RMLA), ORC Chapter 1322. The bond guarantees that the registrant will comply with all applicable state laws governing residential mortgage lending activities.
Ohio uses a unique percentage-based formula to calculate bond amounts: 0.5% of the aggregate loan amount of residential mortgage loans originated in the immediately preceding calendar year. The aggregate is based on nationwide volume, not limited to Ohio loans. The bond has a floor of $50,000 and a ceiling of $150,000, with an additional $10,000 required for each branch location beyond the first.
The bond must be issued in favor of the Superintendent of Financial Institutions and is for the exclusive benefit of any buyer injured by a violation of ORC Chapter 1322 by the registrant, its employees, or any associated loan originator.
The Three Parties
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PrincipalThe mortgage broker, lender, servicer, or exempt entity who purchases the bond and must comply with the Ohio Residential Mortgage Lending Act.
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ObligeeThe Superintendent of Financial Institutions, Ohio Department of Commerce — the entity requiring the bond for consumer protection under ORC Chapter 1322.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with Ohio licensing law.
Important: Nationwide Loan Volume
Unlike many states, Ohio calculates the bond amount based on aggregate nationwide loan volume — not just Ohio loans. This means your total residential mortgage origination volume across all states determines your Ohio bond amount. Be prepared with your prior-year national production figures when applying.
Bond Amount Formula
Ohio RMLA Bond Amount Calculation
Ohio's bond amount is determined by a percentage formula applied to your aggregate nationwide residential mortgage loan volume originated during the preceding calendar year.
RMLA Certificate of Registration (Brokers, Lenders, Third-Party Processors, Lead Generators)
| Component | Amount |
|---|---|
| Base formula | 0.5% of aggregate residential mortgage loans originated (preceding calendar year) |
| Minimum bond amount | $50,000 |
| Maximum bond amount | $150,000 |
| Additional per branch (beyond the first location) | +$10,000 each |
| Volume basis | Nationwide (not limited to Ohio) |
Exclusive Mortgage Servicers
| Criteria | Bond Amount |
|---|---|
| Registrants engaged exclusively in mortgage servicing | $150,000 minimum |
Mortgage Loan Originator (Employees of Exempt Entities)
| Component | Amount |
|---|---|
| Base formula | 0.5% of aggregate residential mortgage loans originated (preceding calendar year) |
| Minimum bond amount | $50,000 |
| Maximum bond amount | $100,000 |
Bond Restoration Requirement
If the penal sum of your bond is reduced by claims or payments, you must immediately provide additional bond capacity to restore the full required amount. An endorsement by the surety reinstating the bond is acceptable. Failure to restore the bond can result in certificate revocation. Apply now or call (800) 373-2804.
Ohio Registration Requirements
Key Bond & Licensing Requirements
Ohio consolidated all residential mortgage lending under the RMLA (ORC Chapter 1322) effective March 2018. Here are the essential requirements for the RMLA surety bond.
Division of Financial Institutions
The obligee is the OH Superintendent of Financial Institutions, Department of Commerce, 77 South High Street, 21st Floor, Columbus, OH 43215.
RMLA — ORC Chapter 1322
Bonding requirements are governed by the Ohio Residential Mortgage Lending Act, ORC Chapter 1322 (formerly the Ohio Mortgage Broker Act). Bond provisions are in ORC § 1322.07 et seq.
No Net Worth Requirement
Ohio does not impose a minimum net worth requirement for mortgage brokers or lenders. However, business and personal financial statements may be required for bond amounts over $50,000.
NMLS Electronic Bond Filing
Entity bonds are filed electronically through the NMLS. Individual MLO bonds for employees of exempt entities must be emailed to the DFI. Ohio participates in the NMLS ESB program.
Operations Manager Required
Each registrant must designate an operations manager with 3+ years of experience who has passed the required examination. The OM must have sufficient authority to carry out statutory responsibilities.
Consumer Protection
What Does This Bond Protect Against?
The Ohio RMLA surety bond is for the exclusive benefit of any buyer injured by violations of ORC Chapter 1322. Protected violations include:
RMLA Violations
Any violation of the provisions of ORC Chapter 1322 or any rule adopted thereunder by the registrant, its employees, or any loan originator employed by or associated with the registrant.
Fraud & Dishonest Practices
Acts of fraud, dishonesty, breach of trust, or misrepresentation that cause financial injury to borrowers in connection with residential mortgage loan transactions.
Unfaithful Performance
Failure to faithfully perform the obligations of the registrant or licensee, including proper handling of loan applications, disclosures, and borrower funds.
DFI Enforcement Actions
The Superintendent may take action including bond claims, fines up to $1,000 per day of violation, and certificate suspension or revocation after notice and opportunity for hearing.
How It Works
Get Your Ohio Mortgage Broker Bond in 4 Steps
Surety One makes obtaining your Ohio RMLA 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. Have your prior-year aggregate nationwide loan volume ready.
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 official Ohio RMLA Declaration of Surety Bond form.
Filed via NMLS
Surety One files your electronic surety bond through the NMLS. For MLO bonds, we email the bond directly to the DFI on your behalf.
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 | Calculated at 0.5% of your aggregate nationwide loan volume ($50K–$150K), plus $10K per additional branch. 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 | Bond amounts over $50,000 typically require personal and business financial statements for underwriting purposes. |
| Industry Experience | Ohio requires operations managers to have 3+ years of 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
Ohio Mortgage Broker Bond FAQ
Your bond amount equals 0.5% of your aggregate residential mortgage loan volume originated in the preceding calendar year, based on nationwide volume (not just Ohio). The minimum is $50,000 and the maximum is $150,000. You must add $10,000 for each branch location beyond the first. For exclusive mortgage servicers, the minimum is $150,000.
The Ohio Department of Commerce, Division of Financial Institutions (DFI), requires the bond under the Ohio Residential Mortgage Lending Act (RMLA), ORC Chapter 1322. The bond must be issued in favor of the Superintendent of Financial Institutions and filed electronically through the NMLS.
MLOs employed by entities holding a Certificate of Registration under the RMLA do not need their own bond — they are covered by their employer's entity bond. However, MLOs employed by entities holding a Letter of Exemption under ORC § 1322.05 must obtain their own individual bond (0.5% of volume, $50K min / $100K max). The MLO bond must be emailed to the DFI.
If the penal sum of your bond is reduced by claims or payments, you must immediately provide additional bond capacity so the total aggregate penal sum equals the amount required by law. A surety endorsement reinstating the bond to the required amount is acceptable. Failure to restore the bond can result in certificate of registration revocation.
No. As of March 23, 2018, Ohio eliminated the requirement for registrants to maintain a physical office location in Ohio. However, registrants must maintain an office in any U.S. state. The main office and any branch offices must still be registered, and each branch adds $10,000 to the bond amount.
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.
Each registrant must designate an employee or owner as the operations manager. This person must have at least 3 years of mortgage industry experience (verified by W-2s/1099s), pass the required examination, and complete annual continuing education. The OM must have sufficient authority to carry out their statutory responsibilities.
No. Ohio does not impose a minimum net worth requirement for mortgage brokers or lenders. However, the surety underwriter may require business and personal financial statements for bond amounts exceeding $50,000 as part of the underwriting and credit review process.
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.
OH RMLA Bond Specialists
We specialize in all Ohio mortgage industry bonds — RMLA entity bonds, exempt entity bonds, and individual MLO bonds. Our underwriters know ORC Chapter 1322 and the DFI filing process inside and out.
Same-Day Issuance
Most Ohio RMLA 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 bond calculation methods.
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.
