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Money Broker License Bond

What is a North Dakota 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

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Money Broker License Bond

$50,000 Bond

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