Skip Navigation

Georgia Mortgage Broker, Lender or Loan Originator Bond


Georgia Mortgage Broker, Lender or Loan Originator Bond Information

Mortgage originators, brokers and lenders operating in Georgia must post a surety bond on behalf of the Georgia Department of Banking and Finance. In order to receive an accurate premium quote, you should verify with the state the exact bond amount required for your particular situation prior to requesting a bond quote. The minimum coverage amounts for the surety bonds required pursuant to Georgia House Bill 143 are $150,000 for licensed or registered mortgage brokers and $250,000 for licensed or registered mortgage lenders. 

How Much Does a Mortgage Bond Cost in Georgia?

Mortgage Broker or Lender Bond

Can't find what you need?

Let our bond experts help!

Get Started »
No obligation, takes 2 minutes

If you'd prefer, call us at 1-800-608-9950

What does a Mortgage Bond Protect Against?

The purpose of the bond is to ensure that licensed mortgage brokers and lenders conduct business practices in accordance with the provisions the Georgia Residential Mortgage Act and other applicable guidelines and legal requirements.

In the event that damages result from the broker or lender’s non-compliance or other violation, a valid claim may be filed requiring the surety company to compensate the damaged party for losses up to the full amount of the bond. The bond principal provides indemnity to the surety company requiring reimbursement of any losses. This bond may be canceled if the surety company provides 30 days advance written notice to the Department of Banking and Finance.

Getting Your Georgia Business License or Registration

A Georgia Mortgage Broker license or registration is required for any non-exempt individual, sole proprietorship, corporation, limited liability company, partnership, trust, or any other group of individuals, who directly or indirectly makes, originates, or purchases mortgage loans or who services mortgage loans in the state of Georgia. Non-exempt loan servicers are also required by Georgia law to have a mortgage broker’s license.

The following are general requirements to securing the license in Georgia:

  • Pay state licensing Fees as required
  • Provide tax return information and company financials to the state for review
  • Furnish Surety Bond as outlined above
  • Submit to FBI criminal background check
  • Submission of a credit report through NMLS for all control persons
  • Meet Georgia Residential Mortgage Act requirements related to student loans and child support

Note: A license may not be required some parties including; federally insured financial institutions and wholly owned subsidiaries, W-2 employees of licensees and registrants, attorneys not in the business of negotiating loans, anyone performing any act relating to mortgage loans under a court order, nonprofit corporations making mortgage loans to promote home ownership or improvements for the disadvantaged, or any natural person who makes five or less mortgage loans in any one calendar year.

Other Helpful Information and Links

Mortgage Broker and Lender Forms and Applications

NMLS Resource Center, State Licensing Requirements for Georgia

Georgia Department of Banking and Finance

The Mortgage Division of the Georgia Department of Banking and Finance is tasked with supervising those who are licensed or applying to be licensed to do business in the residential mortgage industry in order to ensure that Georgia consumers have access to ethical and well-managed mortgage service providers. Residential Mortgage Lenders and Brokers are obligated to apply to the Georgia Department of Banking and meet licensing requirements as mandated by the state before legally offering mortgage services to the public. Monetary fines and civil sanctions may be imposed if a person or company is discovered to be operating in Georgia without a proper license. Subsequent to licensure, periodic examinations of the licensee's operations are performed by the Georgia Department of Banking to ensure proper operating standards and compliance with the provisions of the Georgia Residential Mortgage Act (GRMA).