Who requires it
Ohio Department of Commerce — Division of Financial Institutions
License & permit · Ohio
Ohio Residential Mortgage Lending Act Bond
Mortgage lenders, brokers, and related registrants under Ohio’s Residential Mortgage Lending Act must keep a surety bond for the superintendent of financial institutions. O.R.C. § 1322.32 establishes a volume-based amount with statutory floors and ceilings, plus higher minimums for exclusive mortgage servicers.
Common bond amount
$50,000–$150,000
Volume formula with floors/ceilings; exclusive mortgage servicers minimum $150,000; +$10,000 per extra branch for lenders/brokers.
How you file
File through NMLS with the Division of Financial Institutions
Renewal
Coincide with registration term; 30-day certified cancellation notice
Who requires it
Chapter 1322 registrants conducting residential mortgage lending, brokering, or servicing in Ohio. Mortgage loan originators employed by a bonded registrant generally rely on the employer bond; originators tied to certain exempt entities may need separate coverage under the same section.
How much is required
O.R.C. § 1322.32(A)(1) establishes one-half percent of the aggregate residential mortgage loans originated nationwide in the prior calendar year, not exceeding $150,000, and never less than $50,000 for lenders and brokers, plus $10,000 for each additional business location. Registrants that engage exclusively in mortgage servicing need at least $150,000.
How to get and file it
Obtain a surety bond from a company authorized in Ohio, complete the Division of Financial Institutions / NMLS bond declaration materials, and file a copy with the superintendent so the bond term matches the registration term. Keep the bond in effect for the full registration term. Cancellation by the registrant or surety requires certified-mail notice to the superintendent and is not effective sooner than thirty days after receipt. If recoveries reduce the bond, furnish a new or additional bond to restore the required amount.
Cost note
The calculated figure is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Lender / broker floor and ceiling
- Minimum $50,000; maximum $150,000 under the 0.5% formula
- Branches
- Additional $10,000 for each location beyond the first
- Exclusive servicers
- Minimum $150,000
Official sources
Related resources
Frequently asked questions
Does every loan originator buy a personal bond?
Originators covered by their employer’s company bond generally do not need a separate individual bond. Separate rules apply for originators associated with certain exempt entities under § 1322.32(A)(2).
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Ohio application
Ohio 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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