Who requires it
Massachusetts Division of Banks
License & permit · Massachusetts
Massachusetts Mortgage Broker / Lender Bond
Massachusetts mortgage brokers licensed under G.L. c. 255E keep a seventy-five-thousand-dollar surety bond that stays in force while licensed. Mortgage lenders post a surety sized to Massachusetts residential loan volume—one hundred thousand, two hundred fifty thousand, or five hundred thousand dollars—under Division of Banks Regulatory Bulletin 5.2-101 and 209 CMR 42.00. Bonds are filed electronically through NMLS. A firm that holds both a broker and a lender license must keep both bonds in force. Mortgage loan originators are ordinarily covered by the sponsoring company’s bond; an individual twenty-five-thousand-dollar bond applies only when that coverage is unavailable.
Common bond amount
$75,000 (broker); $100,000–$500,000 (lender)
Broker amount is flat $75,000. Lender amounts are $100,000 / $250,000 / $500,000 by closed Massachusetts residential loan volume. Dual licenses require both bonds. MLOs are usually covered by the employer bond ($25,000 individual if not).
How you file
File electronically through NMLS with the Division of Banks
Renewal
Keep in force via NMLS; adjust lender amount with volume; avoid cancellation gaps
Who requires it
Companies seeking or holding Massachusetts mortgage broker or mortgage lender licenses with the Division of Banks through NMLS. Dual-licensed firms need both the broker bond and the lender bond. Mortgage loan originators must be covered by a surety, but this guide does not create a separate individual MLO page—employees and exclusive agents of a licensed broker or lender are usually covered by that company’s bond; confirm any individual twenty-five-thousand-dollar filing with the Division when sponsorship coverage does not apply.
How much is required
Bulletin 5.2-101 sets a flat seventy-five-thousand-dollar continuous amount for mortgage brokers. Mortgage lenders use closed Massachusetts residential loan volume from the Mortgage Lender Annual Report and/or Mortgage Call Reports for the preceding calendar year: $0–$49,999,999 → $100,000; $50,000,000–$249,999,999 → $250,000; $250,000,000 or more → $500,000. The Commissioner may increase a lender’s amount within the five-hundred-thousand-dollar maximum when necessary. Holding both licenses means posting both instruments—one broker bond and one volume-tier lender bond.
How to get and file it
Select the broker amount, the correct lender volume tier, or both if dual-licensed. Arrange continuous electronic surety bonds through NMLS with a company authorized in Massachusetts, matching each name to the exact legal name on the MU1 license record. Continuous bonds that renew on an annual premium should be set to renew on December 31 as the bulletin directs. Keep each required bond in force for the license term and increase a lender amount when closed-loan volume moves into a higher tier. If a bond is cancelled, the Commissioner may suspend the license on the cancellation date unless a replacement is already on file with no lapse. Recalculate lender amounts from the prior year’s Massachusetts closed-loan reporting at renewal.
Cost note
Seventy-five thousand dollars for brokers, or the lender volume-tier amount up to five hundred thousand, is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Mortgage broker
- Continuous $75,000 surety under Bulletin 5.2-101 / 209 CMR 42.05
- Mortgage lender tiers
- $100,000 / $250,000 / $500,000 based on aggregate annual closed Massachusetts residential loans
- Dual licenses
- Broker and lender licenses each require their own surety bond
- Mortgage loan originators
- Usually covered by the sponsoring broker or lender company bond; $25,000 individual bond when not covered
- Filing channel
- Electronic surety through NMLS; continuous coverage preferred to renew December 31
Official sources
Related resources
Frequently asked questions
If I hold both broker and lender licenses, do I need two bonds?
Yes. Bulletin 5.2-101 states that an entity holding both a mortgage lender and a mortgage broker license must maintain two surety bonds: the volume-tier lender bond and the seventy-five-thousand-dollar broker bond.
Do Massachusetts mortgage loan originators need their own bond page?
No separate individual MLO guide is published here. Originators must be covered by a surety, and employees or exclusive agents of a licensed broker or lender are ordinarily covered by that company’s bond. An individual twenty-five-thousand-dollar bond applies only when that company coverage is not available—confirm with the Division of Banks / NMLS checklist.
Related Massachusetts bond guides
Money Transmitter Bond
$100,000–$500,000
Massachusetts money transmitters licensed under the Money Transmission Act, G.L. c. 169B, must maintain a surety bond satisfactory to the Commissioner of Banks. Section 9 sets the amount at the greater of one hundred thousand dollars or one hundred percent of the licensee’s average daily money transmission liability in the commonwealth for the most recently completed three-month period, capped at five hundred thousand dollars. The Division of Banks administers the license and security requirement.
Debt Collector Bond
$25,000
Massachusetts debt collectors licensed under G.L. c. 93 §§ 24–26 must maintain a twenty-five-thousand-dollar surety bond running to the state treasurer. Section 25 fixes that sum and conditions the bond on turning collection proceeds over as agreed. Licensing and related rules appear in 209 CMR 18, and applications run through the Division of Banks on NMLS. The Commissioner may require additional security when circumstances warrant.
Used Motor Vehicle Dealer Bond
$25,000
Massachusetts Class 2 used motor vehicle dealers must post a twenty-five-thousand-dollar surety bond—or equivalent proof of financial responsibility—under G.L. c. 140 § 58. The instrument runs for the benefit of retail buyers who suffer defined losses from title, payment, odometer, warranty, or deceptive-practice failures. Each distinct business name and each city or town where the dealer maintains a place of business needs its own bond. Municipal licensing authorities issue and renew Class 2 licenses and receive the bond or collateral filing.
Credit Services Organization Bond
$10,000+
A Massachusetts credit services organization may not charge or receive money before fully performing agreed services unless it maintains a surety bond of at least ten thousand dollars and has established a trust account at a federally insured bank or savings and loan association located in the commonwealth. G.L. c. 93 § 68B states that dual requirement. Organizations that do not take advance fees are outside the bond trigger in that section.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Massachusetts application
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Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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