Who requires it
Indiana Secretary of State — Securities Division
License & permit · Indiana
Indiana Loan Broker Bond
Indiana loan brokers licensed by the Secretary of State Securities Division must maintain a $60,000 electronic surety bond filed through NMLS. IC 23-2.5-4-12 requires the bond to be satisfactory to the commissioner and to cover the activities of each manager and mortgage loan originator employed by the loan broker. This is a company bond—not the same as a Department of Financial Institutions mortgage-lending surety.
Common bond amount
$60,000
Fixed statutory electronic surety under IC 23-2.5-4-12; covers employed managers and mortgage loan originators.
How you file
File electronically through NMLS
Renewal
Keep continuous; Dec 31 license cycle; renew 30 days before expiration
Who requires it
Persons who meet the Indiana definition of a loan broker under IC 23-2.5 and must obtain a loan broker license unless excluded. Individual mortgage loan originators and managers are licensed separately but are covered by the loan broker’s $60,000 company surety when employed by that broker.
How much is required
IC 23-2.5-4-12 fixes the electronic surety at sixty thousand dollars ($60,000). The Securities Division’s loan-broker page restates that NMLS electronic surety amount for company applications.
How to get and file it
Have an Indiana-authorized surety issue a $60,000 electronic surety bond through NMLS with the company (MU1) filing. Complete manager designations, UEO listings, background checks, and other NMLS checklist items the Division publishes. Keep the electronic surety in force while the loan broker license is active. Licenses expire December 31; renewals must be submitted timely (the Division requires renewal filings thirty days before expiration and does not recognize the NMLS reinstatement period). Failure to renew before expiration means the company cannot lawfully operate beginning January 1.
Cost note
Sixty thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Required amount
- $60,000 electronic surety
- Coverage
- Activities of each employed manager and mortgage loan originator
- Filing
- NMLS electronic surety with the loan broker company application
Official sources
Related resources
Frequently asked questions
Does each MLO need a separate Indiana bond?
Under IC 23-2.5-4-12, the loan broker’s $60,000 company bond covers employed managers and mortgage loan originators. MLOs still need individual licenses and sponsorship through NMLS.
Is this the DFI mortgage lender bond?
No. DFI mortgage-lending licenses use a different statute and a surety amount the director sets based on mortgage volume. Confirm that amount on the current DFI/NMLS checklist if you lend under DFI authority.
Related Indiana bond guides
Collection Agency Bond
$5,000 per Indiana office
Indiana collection agencies licensed through the Secretary of State Securities Division must maintain an electronic surety bond filed in NMLS. The amount equals five thousand dollars ($5,000) for each office the agency operates in Indiana, combined into one bond associated with the main office. The bond runs to the people of Indiana and covers faithful accounting of money collected for clients.
Credit Services Organization Bond
$25,000
Before doing business in Indiana, a credit services organization must obtain a $25,000 surety bond under IC 24-5-15-8 and file a copy with the Office of the Indiana Attorney General. The Attorney General’s Consumer Protection materials treat foreclosure consultants as covered under the same chapter and publish one combined Foreclosure Consultant / Credit Services Organization bond form. The bond runs in favor of the state for the benefit of a person damaged by a chapter violation. The Attorney General may waive the bond and accept an irrevocable letter of credit for an equivalent amount, also filed with the Office before operations begin.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Indiana application
Indiana 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 2026-08-10. This guide is based on verified educational content and official sources.
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