Ohio Mortgage Broker, Lender, or Loan Originator Bond

Mortgage Broker, Lender and Loan Originator Bonds are surety bonds required in Ohio as part of the licensing process for mortgage professionals, servicers, and agencies. The Mortgage Broker or Lender Bonds are also called the Residential Mortgage Lending Act (RMLA) Exemption Bond and the Residential Mortgage Lending Act (RMLA) Registration Bond by the state.

The bond must be in an amount equating to 0.5% of loan origination volume for the preceding calender year. The minimum amount for broker and lender bonds is $50,000 and the maximum amount is $150,000. Originator bonds range from $50,000 to $100,000. An additional amount of $10,000 is required for each additional location.