Money Broker License Bond

Per the North Dakota Century Code Chapter 13-04.1, the Deptartment of Financial Institutions requires a $50,000 surety bond to be e-filed with the NMLS for any person or entity engaged in any money brokering that involves a borrower who is a North Dakota resident.

Per the ND Licensee Checklist, the bond permits the following activities:

• First or second mortgage brokering or lending
• Home equity lending/lines of credit
• Reverse mortgage brokering or lending
• High cost home loans
• Manufactured housing financing
• Commercial or industrial loan brokering or lending
• Ag lending or brokering
• Consumer loan brokering or lending
• Student loan brokering or lending
• Lease financing for non-inventory
• Tax refund anticipation lending
• Other lending or brokering activities