Three-Tier: $25K–$50K
$25K / $35K / $50K by SD volume. Same for brokers and lenders. New applicants $25K. Exempt company registration bonds also available.
SD Division of BankingSDCL § 54-14-24Same-Day Issuance
South Dakota Mortgage Broker Surety Bond
Secure your South Dakota mortgage broker or lender license with a surety bond from Surety One, Inc. $25,000 to $50,000 based on SD loan volume. Required by the Division of Banking under SDCL § 54-14-24. Premiums individually determined.
SD Mortgage Bond
$25K – $50K
Volume-based tiers • Brokers & lenders • Premium based on credit
New applicant / ≤$25M$25,000
$25M – $50M volume$35,000
Over $50M volume$50,000
PremiumBased on Credit
ObligeeSD Division of Banking
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is a South Dakota Mortgage Broker Surety Bond?
A South Dakota mortgage broker surety bond is required by the South Dakota Department of Labor and Regulation, Division of Banking, as a condition of licensure under South Dakota Codified Law § 54-14-24 (Chapter 54-14).
South Dakota uses a three-tier volume-based schedule: $25,000 (new applicants or ≤$25M volume), $35,000 ($25M–$50M), and $50,000 (over $50M). The same schedule applies to both mortgage brokers and mortgage lenders.
The bond requires faithful conformity with South Dakota Codified Laws and all rules, regulations, and orders of the Division of Banking. All bonds must be filed electronically through NMLS ESB — paper filings are not accepted.
The Three Parties
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PrincipalThe mortgage broker or lender who purchases the bond and must comply with SDCL Chapter 54-14.
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ObligeeThe South Dakota Division of Banking — the regulatory authority enforcing Chapter 54-14.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with South Dakota mortgage licensing law.
Simple Three-Tier for Brokers & Lenders
South Dakota's $25K/$35K/$50K schedule is among the most accessible in the series. New applicants start at $25,000 unless they have prior-year SD loan origination volume.
Bond Amount Requirements
South Dakota Mortgage Bond Amounts
| SD Annual Loan Volume | Bond Amount |
|---|---|
| New applicant or ≤$25M SD volume | $25,000 |
| $25M – $50M SD volume | $35,000 |
| Over $50M SD volume | $50,000 |
South Dakota Licensing Requirements
Key Bond & Licensing Requirements
Division of Banking
SD Dept. of Labor & Regulation, Division of Banking. Phone: (605) 773-3421. Email: banking@state.sd.us.
SDCL § 54-14-24
South Dakota Codified Law Chapter 54-14. Bond conditioned on faithful conformity with SD laws and Division rules/orders.
Business Plan & Financials
Business plan, organizational chart, management chart. Financial documents. State and federal background check.
NMLS ESB Only
All bonds filed electronically via NMLS ESB. Paper filings not accepted. Standard NMLS fees.
Continuous / December 31
Continuous bond. December 31 renewal. Exempt mortgage companies with MLOs must also register and file bond.
Consumer Protection
What Does This Bond Protect Against?
Chapter 54-14 Compliance
Faithful conformity with South Dakota Codified Laws and all rules, regulations, and orders of the Division of Banking.
Consumer & State Protection
The bond protects the State and consumers from financial harm resulting from the licensee's violations.
Employee Coverage
The bond covers the licensee and its employees, extending protection to all mortgage activities conducted under the license.
Exempt Company Coverage
Even exempt mortgage companies that employ MLOs must register with NMLS and file a bond, ensuring comprehensive market coverage.
How It Works
Get Your South Dakota 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
South Dakota Mortgage Broker Bond FAQ
SD bonds are $25,000 (new/≤$25M), $35,000 ($25M–$50M), or $50,000 (>$50M). Premium individually determined by credit.
Yes. South Dakota uses the same three-tier schedule for both mortgage brokers and mortgage lenders.
Yes. South Dakota requires all mortgage bonds to be filed through the NMLS Electronic Surety Bond (ESB) system. Paper filings are not accepted.
The SD Division of Banking requires the bond under SDCL § 54-14-24. Phone: (605) 773-3421.
Yes. Surety One declines no application. SD's $25,000 entry bond is highly accessible.
SD licenses expire December 31. Continuous bond filed via NMLS ESB.
The Surety One Advantage
Why Choose Surety One, Inc.?
SD Bond Specialists
South Dakota's straightforward three-tier system makes licensing accessible. We issue SD mortgage bonds quickly and efficiently.
Same-Day Issuance
Most South Dakota 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. SD's $25K entry bond is highly accessible.
Northern Plains Expertise
Operating in South Dakota and the Northern Plains? We streamline bonding across all 50 states.
Free Quotes, No Obligation
Application review and quoting are always free.
