Who requires it
Maryland Commissioner of Financial Regulation — Mortgage lenders
License & permit · Maryland
Maryland Mortgage Lender Bond
Maryland licenses mortgage brokers, lenders, and servicers under a single mortgage lender framework administered by the Commissioner of Financial Regulation. Financial Institutions Article § 11-508 requires a continuous surety running to the Commissioner—between $50,000 and $750,000—for the benefit of the State and borrowers harmed by licensing-law violations. The Office of Financial Regulation publishes Maryland-only volume tiers for brokering/lending and for servicing portfolios; when both apply, the higher amount controls.
Common bond amount
$50,000–$750,000
Commissioner-determined within Fin. Inst. § 11-508; OFR Maryland lending and servicing tiers; use the higher amount when activities overlap.
How you file
File electronically through NMLS with the Commissioner of Financial Regulation
Renewal
Stays in force while licensed; 90-day cancel notice; claims can be filed for three years after cancel or license end; resize with Maryland volume tiers
Who requires it
Companies licensed or applying as Maryland mortgage lenders under Financial Institutions Article Title 11, Subtitle 5, including firms that broker Maryland mortgage loans, make Maryland mortgage loans, or service Maryland mortgage loans. Individual mortgage loan originators generally rely on the employing licensee’s bond rather than posting a separate company-style § 11-508 instrument.
How much is required
Section 11-508(c) establishes a statutory band of not less than $50,000 and not more than $750,000, set by the Commissioner after considering volume, financial condition, operations, management, and consumer harm risk. OFR’s November 12, 2024 industry advisory states the operative Maryland figures: brokering with no lending or lending of $5 million or less → $50,000; lending over $5 million to $25 million → $100,000; over $25 million to $100 million → $250,000; over $100 million to $250 million → $500,000; over $250 million → $750,000. Servicing tiers use total Maryland servicing portfolio (including MSRs, loans subserviced for others, and loans subserviced by others): $10 million or less → $50,000; over $10 million to $100 million → $100,000; over $100 million to $1 billion → $250,000; over $1 billion to $5 billion → $500,000; over $5 billion → $750,000. Engage in more than one activity and post the highest applicable requirement.
How to get and file it
Confirm the amount from the OFR tiers (and any Commissioner determination on your NMLS record). Authorize a surety company in NMLS, have it issue the continuous electronic surety to the Maryland Commissioner of Financial Regulation, review and mark the bond ready, and submit it with the mortgage lender license application or as a license item on renewal. Keep the bond in force while licensed. Cancellation by surety or licensee requires written certified-mail notice to the Commissioner and is not effective until 90 days after the Commissioner receives it. Claims can be filed for three years after the later of cancellation or the date the firm ceases to be licensed. If a claim reduces the bond, restore it to the required amount. Recalculate when Maryland lending or servicing volume crosses a published tier.
Cost note
Fifty thousand to seven hundred fifty thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Statutory range
- $50,000–$750,000 under Fin. Inst. § 11-508(c)
- Lending / brokering tiers
- $50k / $100k / $250k / $500k / $750k by prior-12-month Maryland lending volume
- Servicing tiers
- $50k / $100k / $250k / $500k / $750k by total Maryland servicing portfolio
- Filing
- Electronic surety through NMLS to the Commissioner of Financial Regulation
- Cancellation
- Not effective until 90 days after Commissioner receives certified-mail notice
Official sources
Frequently asked questions
Do brokers and lenders post different Maryland bonds?
Maryland uses one mortgage lender license category that covers brokering, lending, and servicing. You post one company surety sized to the highest applicable OFR tier for the Maryland activities you actually conduct—not separate broker-only and lender-only statutes.
Can I use a letter of credit instead of a surety?
With Commissioner approval, § 11-508(d) allows a new-license applicant to satisfy the bonding requirement with a trust account or an irrevocable letter of credit from an FDIC-insured institution in the same amount as the required bond.
Related Maryland bond guides
Money Transmitter Bond
$150,000–$2,000,000
Maryland money transmitters licensed under the Maryland Money Transmission Act must maintain a surety device with the Commissioner of Financial Regulation. Financial Institutions Article § 12-412 sets the amount at the greater of $150,000 or 100% of the firm’s average daily money transmission liability in Maryland for the most recently completed calendar quarter, not to exceed $2,000,000. A qualifying deposit can substitute for the surety bond.
Collection Agency Bond
$50,000
Maryland collection agencies licensed by the State Collection Agency Licensing Board must file a continuous surety bond under Business Regulation Article § 7-304. The statute lets the Board set each licensee’s amount anywhere from $50,000 to $1,000,000. The Board’s November 2024 guidance states that every licensee must carry $50,000—while reserving the right to require more later.
Credit Services Business Bond
$50,000–$200,000
Maryland credit services businesses—firms that, for a fee, help consumers improve credit records or obtain extensions of credit—must be licensed and bonded. Commercial Law § 14-1908 requires a surety under Financial Institutions Article Title 11, Subtitle 3. Subtitle 3 licenses are processed under Subtitle 2 rules, including the § 11-206 surety of $50,000 to $200,000 set by the Commissioner of Financial Regulation. Confirm the amount currently shown on the Credit Services Business NMLS checklist for your company.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Maryland application
Maryland 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 2026-08-11. This guide is based on verified educational content and official sources.
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