Who requires it
Alaska Division of Banking and Securities — Mortgage licensing
License & permit · Alaska
Alaska Mortgage Broker and Lender Bond
Alaska mortgage brokers and lenders must maintain a bond under AS 06.60.045. That statute directs the Department of Commerce, Community, and Economic Development to set the amount by regulation and allows one bond to cover every location listed on the license. Regulation 3 AAC 14.053 sets the operative floor at $75,000. The bond stays in force while you are licensed or registered and for three years after the license or registration ends, so claims may still land after the credential closes. File through the Division of Banking and Securities mortgage program, typically coordinated with NMLS when the department requires electronic filing.
Common bond amount
≥ $75,000
3 AAC 14.053 sets a minimum of $75,000; department may require more. One bond may cover multiple locations.
How you file
File through Banking and Securities / NMLS; one bond may cover all licensed locations
Renewal
Stays in force while licensed and for 3 years after the license ends
Who requires it
Applicants for and holders of Alaska mortgage broker or mortgage lender licenses under AS 06.60 filing with the Division of Banking and Securities.
How much is required
Post at least $75,000 under 3 AAC 14.053 unless the department requires a higher amount. One company bond may cover multiple licensed locations under AS 06.60.045(c).
How to get and file it
Confirm the current department amount (at least $75,000), execute a bond in the exact licensee legal name covering every location the license lists, and file through Banking and Securities / NMLS as the application instructions require. Keep coverage in force for the entire license term and for three years after the license or registration ends. Do not cancel early without confirming how that three-year window interacts with your surety’s cancellation terms and the department’s filing rules.
Cost note
Seventy-five thousand dollars is the minimum required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Minimum amount
- $75,000 under 3 AAC 14.053
- Multi-location
- Single bond may cover every location on the license (AS 06.60.045)
- After the license ends
- Claims can be filed for 3 years after the license or registration ends
Official sources
Related resources
Frequently asked questions
Do I need a separate mortgage bond for each branch?
Generally no. AS 06.60.045 allows one bond to cover multiple locations. Confirm every branch address the department expects listed on the bond or NMLS filing.
When can the bond be cancelled after I stop lending?
The statute and regulation keep the bond in force for three years after the license or registration ends. Plan continuation with that window in mind before cancelling.
Related Alaska bond guides
Money Transmitter Bond
$25,000 + $5,000 per location
Alaska money transmitters must furnish a bond or other accepted coverage under AS 06.55.104 before the Division of Banking and Securities will license the activity. The baseline formula is $25,000 plus $5,000 for each location, with the location addition capped at $125,000—so the ordinary schedule tops out at $150,000. Coverage may be a surety bond, a letter of credit, or another form the department accepts. The department may raise the required amount up to $500,000 based on the volume of money transmission business. Whatever instrument you use must remain available for claims for at least five years after the licensee stops providing money transmission services in Alaska.
Small Loan Company Bond
$25,000
Alaska small loan companies must file a $25,000 bond under AS 06.20.050 as part of the Division of Banking and Securities licensing package. The department’s application checklist requires an original bond from a surety authorized in Alaska, with the name matching the applicant’s full legal name and any DBA exactly. The checklist describes coverage running from the application date to January 1 of the following year, so applicants should confirm the current term language on the department’s bond form when renewing. Keep the bond aligned with the licensed small-loan office activity for the life of the credential.
Motor Vehicle Dealer Bond
$100,000 / $25,000
Alaska motor vehicle dealers must file a bond with the Division of Motor Vehicles under AS 08.66.060. The amount is $100,000 for dealers generally. Dealers that buy and sell only motorcycles use a $25,000 bond instead. House Bill 36 raised the general dealer amount to the current $100,000 level, and DMV directed active dealers other than motorcycle-only operations to update bonds and liability insurance. The bond is conditioned on the dealer’s compliance with dealer law and on not practicing fraud. Keep the correct amount aligned with your dealer activity for as long as the registration remains active.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Alaska application
Alaska will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-12. This guide is based on verified educational content and official sources.
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