$20K + $5K/Location
$20,000 base plus $5,000 per additional location. Scales with geographic footprint. Continuous bond.
RI Dept. Business RegulationR.I.G.L. § 19-14Same-Day Issuance
Rhode Island Mortgage Broker Surety Bond
Secure your Rhode Island loan broker license with a surety bond from Surety One, Inc. $20,000 minimum plus $5,000 per additional location. Required by the Department of Business Regulation. Premiums individually determined.
RI Mortgage Bond
$20K + $5K/location
Per-location escalator • Premium based on credit
Loan Broker (first location)$20,000
Each Additional Location+$5,000
PremiumBased on Credit
ObligeeRI Dept. Business Regulation
Bond TypeContinuous
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is a Rhode Island Mortgage Broker Surety Bond?
A Rhode Island loan broker surety bond is required by the Rhode Island Department of Business Regulation as a condition of licensure under R.I. General Laws § 19-14.
Rhode Island uses a per-location escalator: $20,000 minimum for the first location, plus $5,000 for each additional location. This structure scales bond amounts proportionally to the licensee's geographic footprint.
The bond ensures compliance with Rhode Island's lending regulations and protects consumers from financial harm resulting from the broker's violations.
The Three Parties
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PrincipalThe loan broker who purchases the bond and must comply with R.I. General Laws § 19-14.
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ObligeeThe Rhode Island Department of Business Regulation — the regulatory authority requiring the bond.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with Rhode Island mortgage licensing law.
$20K Base + $5K Per Location
Rhode Island's per-location escalator scales bond amounts proportionally. For example, a broker with 5 locations would need a $40,000 bond ($20K + 4 × $5K).
Bond Amount Requirements
Rhode Island Mortgage Bond Amounts
| Configuration | Bond Amount |
|---|---|
| First Location | $20,000 |
| Each Additional Location | +$5,000 |
| Example: 1 location | $20,000 |
| Example: 5 locations | $40,000 |
Rhode Island Licensing Requirements
Key Bond & Licensing Requirements
Dept. Business Regulation
RI Department of Business Regulation. Bond ensures compliance with state lending regulations.
R.I.G.L. § 19-14
Rhode Island General Laws, Title 19, Chapter 14. Governs loan broker licensing and bond requirements.
Standard Application
Application through NMLS. Financial documentation, background check, and credit report required.
NMLS Electronic Filing
Bond filed electronically through NMLS. Standard application and processing fees.
Continuous / 30-Day Cancel
Continuous bond. 30-day written cancellation notice. December 31 renewal.
Consumer Protection
What Does This Bond Protect Against?
Lending Law Compliance
Full compliance with R.I. General Laws § 19-14 and all regulations governing loan broker activities.
Consumer Protection
The bond protects consumers from financial harm resulting from the broker's violations of state lending laws.
Scaled Coverage
The per-location escalator ensures bond coverage proportional to the broker's geographic scope of operations.
Regulatory Assurance
The bond assures the Department that the licensee will operate in compliance with all applicable lending regulations.
How It Works
Get Your Rhode Island Mortgage Broker Bond in 4 Steps
Apply Online
Complete our application online or call (800) 373-2804. Free and no obligation.
Get Your Quote
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.
Filed via NMLS
Surety One files your Electronic Surety Bond through the NMLS.
Understanding Your Premium
How Is My Premium Determined?
Your premium is a percentage of your required bond amount, individually determined. You do not pay the full bond amount.
| Underwriting Factor | How It Affects Your Premium |
|---|---|
| Required Bond Amount | Higher amounts result in higher premiums. |
| Personal Credit Score | Primary factor. Stronger credit = lower rates. |
| Financial Statements | May be required for larger bonds. |
| Industry Experience | Influences risk assessment. |
| Claims History | Prior claims may affect terms. |
Every Applicant Receives a Personalized Quote
Surety One provides free, no-obligation quotes — we decline no application. Apply now or call (800) 373-2804.
Common Questions
Rhode Island Mortgage Broker Bond FAQ
RI requires $20,000 for the first location plus $5,000 for each additional. Premium individually determined by credit.
Start with $20,000 for your first/main location, then add $5,000 for each additional branch or office.
The RI Department of Business Regulation requires the bond under R.I.G.L. § 19-14.
Yes. Surety One declines no application. RI's accessible $20,000 base bond makes initial bonding feasible.
Licenses expire December 31. Continuous bond with 30-day cancellation notice.
The Surety One Advantage
Why Choose Surety One, Inc.?
RI Per-Location Specialists
Rhode Island's per-location escalator requires precise bond calculations. We handle multi-location configurations efficiently.
Same-Day Issuance
Most Rhode Island bonds are issued the same business day.
A+ BBB Rated
Surety One carries an A+ rating with the Better Business Bureau.
All Credit Accepted
We decline no application.
New England Expertise
Operating across New England? We complement your RI bond with coverage in all neighboring states.
Free Quotes, No Obligation
Application review and quoting are always free.
