3-Tier Volume-Based Bonds
Mortgage broker bonds are $20,000, $40,000, or $60,000 based on WA loan origination volume. New applicants start at $20,000. Annual adjustment required by March 31 based on Q4 MCR data.
WA DFIRCW 19.146ESB-Only • Same-Day
Washington Mortgage Broker Surety Bond
Secure your Washington state mortgage broker license with a surety bond from Surety One, Inc. — the nationwide leader in mortgage industry surety bonds. Bond amounts from $20,000 to $60,000 based on WA loan volume. Premiums individually determined by credit and financial review.
WA Mortgage Broker Bond
$20K – $60K
By WA loan volume • ESB filing only • Premium based on credit
Broker Bond (MBPA)$20,000 – $60,000
CLA Lending Bond$30,000+
Broker-Dealer Bond$100,000
PremiumBased on Credit
ObligeeWA DFI
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is a Washington Mortgage Broker Surety Bond?
A Washington mortgage broker surety bond is a three-party agreement required by the Washington State Department of Financial Institutions (DFI), Division of Consumer Services, as a condition of licensure under the Mortgage Broker Practices Act (RCW 19.146). Specifically, RCW 19.146.205 mandates the bond, and WAC 208-660-175 sets the bond amount schedule and annual adjustment procedures.
Washington uses a three-tier volume-based bond schedule with amounts of $20,000, $40,000, or $60,000 determined by the licensee's annual loan origination volume in Washington state. New applicants start at the $20,000 minimum. Licensees offering only residential mortgage loan modification services maintain a flat $20,000 bond.
Washington is notable for being fully electronic — paper bond forms have not been accepted since September 2016. All bonds must be filed as Electronic Surety Bonds (ESB) through the NMLS. The state also has no net worth requirement for mortgage brokers, making the surety bond the primary financial accountability mechanism.
The Three Parties
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PrincipalThe mortgage broker who purchases the bond and must comply with the Mortgage Broker Practices Act (RCW 19.146) and WAC Chapter 208-660.
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ObligeeThe Washington State Department of Financial Institutions (DFI), Division of Consumer Services — the regulator requiring the bond.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with Washington licensing law.
Important: Electronic Surety Bond Only
Washington no longer accepts paper bond forms. All bonds must be filed as Electronic Surety Bonds (ESB) through the NMLS. Surety One files your ESB through the NMLS after you grant us access as your designated surety provider (Surety One NAIC number provided upon application).
Bond Amount Schedule
Washington Mortgage Bond Amounts by License Type
Bond amounts under the Mortgage Broker Practices Act are determined annually by WA loan origination volume per WAC 208-660-175. Licensees must review volume after filing the Q4 Mortgage Call Report and adjust by March 31.
Mortgage Broker (Mortgage Broker Practices Act)
| WA Loan Origination Volume (Prior Year) | Bond Amount |
|---|---|
| New applicants (initial license) | $20,000 |
| Lower volume tier | $20,000 |
| Mid-range volume tier | $40,000 |
| Higher volume tier | $60,000 |
| Loan modification services only | $20,000 (flat, no adjustment) |
Consumer Loan Act (Lending Activities)
| License Type | Bond Amount |
|---|---|
| CLA brokering, lending, or student loan servicing (initial) | $30,000 |
| CLA origination/lending (adjusted by volume annually) | Volume-based per DFI schedule |
| Residential mortgage loan servicers/master servicers | No bond required (unless ESB elected in lieu of net worth) |
Mortgage Broker-Dealer (Securities Division)
| License Type | Bond Amount |
|---|---|
| Mortgage broker-dealer | $100,000 |
March 31 Annual Adjustment Deadline
Mortgage brokers must determine their required bond amount after filing their Q4 Mortgage Call Report (due February 14) and file any bond rider adjustments through the NMLS by March 31. Consumer Loan licensees must adjust by March 1 in conjunction with the CLA Annual Assessment. Apply now or call (800) 373-2804.
Washington Licensing Requirements
Key Bond & Licensing Requirements
Washington maintains a streamlined, fully electronic mortgage licensing system with some of the lowest initial bond amounts in the nation. Here are the essential bonding requirements.
Dept. of Financial Institutions
The obligee is the WA DFI, Division of Consumer Services. The Director or any injured person may make claims against the bond. Third-party providers also have standing to file claims.
MBPA & Consumer Loan Act
Broker bonds under the Mortgage Broker Practices Act (RCW 19.146, WAC 208-660). Lending bonds under the Consumer Loan Act (RCW 31.04, WAC 208-620). Different statutes, different bond requirements.
No Net Worth Requirement
Washington does not have a net worth requirement for mortgage brokers — one of few states with no such mandate. The surety bond is the primary financial accountability mechanism for licensees.
ESB-Only Filing
Washington requires all bonds as Electronic Surety Bonds through the NMLS. Paper forms are not accepted. The surety must have an NMLS surety account, and the licensee must grant access.
Designated Broker Required
Each licensee must employ a designated broker responsible for daily operations. The bond must list the broker's corporate name and NMLS unique identifier. Licenses expire December 31.
Consumer Protection
What Does This Bond Protect Against?
The Washington mortgage broker surety bond protects the state and any persons who suffer loss by reason of violations of the Mortgage Broker Practices Act. Claims may arise from:
MBPA Violations
Any violation of the Mortgage Broker Practices Act (RCW 19.146) or the rules adopted thereunder (WAC 208-660) by the licensee, its employees, or independent contractors.
Fraud & Misrepresentation
Acts of fraud, misrepresentation, or deceptive practices committed by the licensee or its agents that cause financial loss to borrowers, the state, or any other person.
Third-Party Provider Claims
Washington uniquely allows third-party providers — not just borrowers — to file claims against the bond if they are injured by a violation of the Act.
Director & State Recovery
The Director of DFI may make claims against the bond on behalf of the state. For non-borrower claims, final judgment is not entered for 180 days after claim filing.
How It Works
Get Your Washington Mortgage Broker Bond in 4 Steps
Surety One makes obtaining your Washington 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 prepare your Electronic Surety Bond for NMLS filing.
ESB Filed via NMLS
Surety One files your Electronic Surety Bond through the NMLS. You grant access, we file, and your bond is immediately active for your WA license.
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 WA loan volume determines the bond tier ($20K, $40K, or $60K). 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 Condition | Your overall financial stability, including assets and liabilities. Since WA has no net worth requirement, the surety's review serves as the financial assessment. |
| Industry Experience | Your professional history in the mortgage industry and any designated broker qualifications may be considered. |
| 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
Washington Mortgage Broker Bond FAQ
Washington mortgage brokers need a $20,000, $40,000, or $60,000 bond depending on WA loan origination volume. New applicants start at $20,000. 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 Washington State Department of Financial Institutions (DFI), Division of Consumer Services, requires the bond under the Mortgage Broker Practices Act (RCW 19.146.205). Bond amounts and procedures are set by WAC 208-660-175. All bonds must be filed electronically through the NMLS — paper forms are not accepted.
No. Since September 2016, Washington requires all surety bonds to be filed exclusively as Electronic Surety Bonds (ESB) through the NMLS. Paper bond forms are no longer accepted. Surety One files your ESB through the NMLS after you grant us access as your designated surety provider.
Mortgage brokers must determine their required bond amount after filing the Q4 Mortgage Call Report (due February 14) and file any bond rider adjustment through the NMLS by March 31 each year. Consumer Loan licensees must adjust by March 1. Surety One can issue bond riders to increase or decrease your bond amount.
No. Washington does not have a net worth requirement for mortgage brokers licensed under the Mortgage Broker Practices Act — one of only a few states without this mandate. The surety bond serves as the primary financial accountability mechanism. Consumer Loan Act licensees engaged in lending may have separate requirements.
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.
The Mortgage Broker Practices Act (MBPA) bond covers brokering activities — assisting borrowers in obtaining residential mortgage loans. The Consumer Loan Act (CLA) bond covers lending, brokering consumer loans, and student loan servicing. If you both broker and lend, you may need bonds under both statutes. Surety One issues bonds under both the MBPA and CLA.
A surety may cancel the bond with no less than 30 days' written notice to the Director. Before the cancellation takes effect, the licensee must have a replacement bond on file with the Department. Failure to maintain a surety bond is a violation of the Act and may result in enforcement action. You may change surety companies at any time by having the new bond in place before the old one cancels.
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.
WA ESB Specialists
Washington's ESB-only system requires a surety with full NMLS electronic filing capability. Surety One maintains an active NMLS surety account and files your ESB seamlessly — no paper, no delays.
Same-Day Issuance
Most Washington 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 and filing 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.
