Flat-Rate Bonds
Banker: $300K flat (highest in nation). Broker: $120K flat. Plus $10K per branch over 5. Not volume-based — same amount for every applicant in each category regardless of loan production.
WI Dept. Financial InstitutionsWis. Stat. § 224.72Same-Day Issuance
Wisconsin Mortgage Broker Surety Bond
Secure your Wisconsin mortgage broker or banker license with a surety bond from Surety One, Inc. — the nationwide leader in mortgage industry surety bonds. Broker bonds $120,000, banker bonds $300,000 — the highest flat-rate mortgage bond in the nation. Premiums individually determined by credit and financial review.
WI Mortgage Broker / Banker Bond
$120K / $300K
Flat rate by license type • +$10K per branch over 5 • Premium based on credit
Mortgage Broker$120,000
Mortgage Banker$300,000
Registered Entity$300,000
Branch Increase (>5)+$10,000 each
ObligeeWI DFI Division of Banking
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is a Wisconsin Mortgage Broker Surety Bond?
A Wisconsin mortgage broker surety bond is a commercial surety bond required by the Wisconsin Department of Financial Institutions (DFI), Division of Banking, as a condition of licensure under Wisconsin Statutes § 224.72(4)(am). Bond requirements are further defined in Wisconsin Administrative Code DFI-Bkg 40.05.
Wisconsin stands out with the highest flat-rate mortgage bond requirement of any state. Mortgage bankers must post a $300,000 bond regardless of loan production volume, while mortgage brokers must post $120,000. These are not volume-based — every applicant in each category pays the same bond amount, plus $10,000 for each branch location beyond five.
The bond secures the applicant's faithful performance of all duties and obligations as a mortgage banker or broker. It is payable to the Division for the benefit of persons to whom the licensee provided services. The bond cannot be terminated without at least 60 days' written notice to the Division.
The Three Parties
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PrincipalThe mortgage banker or broker who purchases the bond and must faithfully perform all duties and obligations under Wisconsin Statutes Chapter 224, Subchapter III.
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ObligeeThe Wisconsin DFI, Division of Banking — the bond is payable to the Division for the benefit of persons to whom the licensee provided services.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with Wisconsin mortgage licensing law.
Highest Flat-Rate Bond in the Nation
Wisconsin's $300,000 mortgage banker bond is the highest flat-rate mortgage bond requirement of any state. Unlike volume-based states where smaller operators pay less, every Wisconsin mortgage banker pays the same amount. Surety One's expertise with high-amount bonds and non-standard programs is critical in this market.
Bond Amount Requirements
Wisconsin Mortgage Bond Amounts by License Type
Wisconsin uses flat bond amounts by license type — not volume-based. Both bond types increase by $10,000 for each licensed branch location when the number of branches exceeds five.
| License Type | Bond Amount | Net Worth |
|---|---|---|
| Mortgage Banker | $300,000 | $250,000 |
| Mortgage Broker | $120,000 | $100,000 |
| Registered Entity (Depository) | $300,000 | Per institution |
| Branch Location Increase (over 5 branches) | +$10,000 each | — |
Branch Escalator Example
A mortgage banker with 8 licensed branch locations would need: $300,000 base + (3 branches × $10,000) = $330,000 total bond. A mortgage broker with 10 branches: $120,000 base + (5 branches × $10,000) = $170,000 total bond. Apply now or call (800) 373-2804.
Wisconsin Licensing Requirements
Key Bond & Licensing Requirements
Wisconsin's flat-rate bond structure and high amounts make it one of the most demanding bonding environments in the nation for mortgage professionals.
DFI Division of Banking
WI DFI, Division of Banking, PO Box 7876, Madison, WI 53707-7876. Phone: (608) 261-7578. Email: askDFI@dfi.wisconsin.gov. Bond payable to the Division for the benefit of persons served.
Wis. Stat. Ch. 224 Subch. III
Bond requirements: § 224.72(4)(am). Branch office rules: DFI-Bkg 40.03. Surety bond escalator: DFI-Bkg 40.05. Registered entities: § 224.722. Loan processor licensing: § 224.725.
Net Worth + Reviewed CPA
Banker: $250K net worth. Broker: $100K net worth. Reviewed (not audited) financial statement prepared by a CPA required. Maximum 5 trade names permitted.
NMLS + Mail to DFI
Applications filed through NMLS. Some agency-specific documents, including the surety bond, must be mailed directly to DFI. No exam required for company licenses.
60-Day Cancellation
Bond cannot be terminated without at least 60 days' written notice to the Division. Continuous bond — remains active unless canceled. Licenses and registrations expire December 31 annually.
Consumer Protection
What Does This Bond Protect Against?
The Wisconsin mortgage surety bond secures the faithful performance of all duties and obligations. The bond covers:
Faithful Performance
The bond secures the applicant's faithful performance of all duties and obligations as a mortgage banker or mortgage broker under Wisconsin Statutes Chapter 224, Subchapter III.
Consumer Services
The bond is payable to the Division for the benefit of persons to whom the mortgage banker or broker provided services — ensuring direct consumer protection.
Licensing Law Compliance
Violations of Wisconsin mortgage licensing law, including failure to operate in compliance with Chapter 224, Subchapter III, and related administrative code provisions.
Character & Fitness Standard
The DFI evaluates the character, general fitness, and financial responsibility of applicants before issuing licenses. The bond supports ongoing compliance with these standards.
How It Works
Get Your Wisconsin Mortgage Broker Bond in 4 Steps
Surety One makes obtaining your Wisconsin mortgage broker or banker 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 bond on a form acceptable to the Division.
Filed & Mailed
Surety One files the bond through the NMLS and provides the original for mailing to DFI in Madison. Your bond satisfies the 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 | Banker $300K, Broker $120K, plus branch escalator. Given Wisconsin's high flat amounts, premiums are correspondingly higher than in volume-based states. |
| Personal Credit Score | Your FICO score is a primary factor. Stronger credit profiles generally qualify for lower premium rates. |
| Financial Statements | Given WI's high bond amounts, personal and business financial statements are required. Wisconsin requires reviewed CPA financials for licensing. |
| Industry Experience | The DFI evaluates character, general fitness, and financial responsibility. Your professional history influences 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. Given Wisconsin's nation-leading bond amounts, our non-standard programs are especially valuable. Apply now or call (800) 373-2804.
Common Questions
Wisconsin Mortgage Broker Bond FAQ
WI broker bonds are $120,000 flat. Banker bonds are $300,000 flat — the highest in the nation. Both increase $10K per branch over 5. Your premium is a percentage of the required amount, individually determined by credit and underwriting review. Apply for a free, no-obligation quote from Surety One.
Wisconsin's $300,000 flat bond reflects the state's strong consumer protection philosophy. Mortgage bankers who originate, sell, and service loans carry higher risk than brokers. The bond is not volume-based — every banker pays the same amount regardless of production, ensuring robust protection for all consumers.
A mortgage banker originates, sells, and/or services residential mortgage loans and may provide escrow services (bond: $300K, net worth: $250K). A mortgage broker finds and/or negotiates loans on behalf of investors or applicants, and may engage in table funding (bond: $120K, net worth: $100K). You may need both licenses depending on your activities.
Only if you have more than five branches. The bond increases by $10,000 for each licensed branch location when the total exceeds five. For example, a banker with 8 branches needs $330,000 ($300K + 3 × $10K). A branch location may not be licensed under two different licensees.
Mortgage bankers: $250,000 net worth. Mortgage brokers: $100,000 net worth. Wisconsin requires a reviewed (not audited) financial statement prepared by a CPA — less burdensome than states requiring audited statements. A maximum of 5 trade names is permitted.
Yes. Surety One declines no application. Given Wisconsin's nation-leading bond amounts ($120K broker, $300K banker), our non-standard programs are critical. Premium rates will be higher for non-standard credit, but we work to find terms that fit each applicant's situation.
The Wisconsin Department of Financial Institutions (DFI), Division of Banking, requires the bond under Wis. Stat. § 224.72(4)(am) and Wis. Admin. Code DFI-Bkg 40.05. The bond must be issued by a surety company authorized to do business in Wisconsin on a form acceptable to the Division.
Wisconsin mortgage licenses and registered entity status expire December 31 each year. The bond is continuous and cannot be terminated without at least 60 days' written notice to the Division. No exam is required for company-level mortgage banker or broker licenses.
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.
WI High-Amount Specialists
Wisconsin's $300,000 banker bond demands experienced surety underwriting. Our team specializes in high-amount mortgage bonds and knows the DFI Division of Banking's requirements inside and out.
Same-Day Issuance
Most Wisconsin mortgage broker and banker 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 WI's nation-leading bond amounts, our non-standard programs are critical for applicants who may face challenges with other surety providers.
Multi-State Expertise
Operating in the Midwest 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.
