Who requires it
Wyoming Division of Banking (Department of Audit)
License & permit · Wyoming
Wyoming Mortgage Lender and Broker Bond
Wyoming mortgage lenders and brokers must maintain a surety under the Residential Mortgage Practices Act, W.S. 40-23-110. The bond covers individual loan originators employed by or under contract with the licensee and runs to the state. Since January 1, 2010, the commissioner sets the amount by rule from the licensee’s Wyoming loan volume. Chapter 2 of the Banking rules starts new licensees at twenty-five thousand dollars until the first renewal, then steps the amount to twenty-five, fifty, or one hundred thousand dollars when prior-year Wyoming loans made or brokered are at or below three million, above three million but under ten million, or at least ten million dollars. Organizations that employ or contract with mortgage loan originators under the Wyoming Uniform Consumer Credit Code follow a parallel volume schedule in W.S. 40-14-637 and Chapter 5 rules, with the annual adjustment due before January 31. Under W.S. 40-23-110, the surety remains a continuing obligation until the commissioner releases it in writing; if never released, the bond expires two years after the license is surrendered, revoked, or expires. Do not use the pre-2010 statutory formula of twenty-five thousand dollars plus ten thousand dollars per licensed office—that schedule no longer governs current renewals.
Common bond amount
$25,000–$100,000
By prior-year Wyoming loan volume under Banking rules ($25k / $50k / $100k); initial Residential Mortgage Practices Act licenses start at $25,000.
How you file
File with the Division of Banking; covers employed or contract loan originators
Renewal
Annual volume adjustment; continuous until commissioner releases in writing; 2-year post-license tail if not released
Who requires it
Wyoming mortgage lender/broker licensees under W.S. 40-23, and organizations that employ or contract with mortgage loan originators under W.S. 40-14-637, filing with the Division of Banking.
How much is required
Post $25,000 for a new Residential Mortgage Practices Act license until the first renewal. At each renewal, size from prior-calendar-year Wyoming loans made or brokered: $25,000 at or below $3 million, $50,000 above $3 million and under $10 million, and $100,000 at $10 million or more. UCCC MLO-employer organizations use the same three-tier volume scale and must adjust by January 31 each year.
How to get and file it
Confirm which Banking license path applies, compute the matching volume tier, arrange an authorized Wyoming surety for that face covering employed or contracted loan originators, and file through NMLS or as the Division of Banking instructs. Keep coverage in force while licensed. Increase the amount when volume crosses a higher tier at renewal. Expect the bond to remain effective until the commissioner releases it in writing; plan for claims that can be filed for two years after the license ends if the bond has not already been released. Replace coverage promptly if the surety seeks to end liability so Banking does not lose required security.
Cost note
The volume-tier figure is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Initial (Residential Mortgage Practices Act)
- $25,000 until first renewal
- Prior-year WY volume ≤ $3M
- $25,000
- Prior-year WY volume > $3M and < $10M
- $50,000
- Prior-year WY volume ≥ $10M
- $100,000
- Release / tail
- Continuous until written commissioner release; otherwise expires 2 years after license ends
Official sources
Frequently asked questions
Is the bond still $25,000 plus $10,000 per branch?
No for current renewals. That office-add-on formula applied only until December 31, 2009. Since January 1, 2010, W.S. 40-23-110 points to commissioner rules that use Wyoming loan-volume tiers instead.
Do individual mortgage loan originators buy their own Wyoming bond?
Company sureties under W.S. 40-23-110 and W.S. 40-14-637 are written to cover MLOs employed by or under contract with the organization. Confirm sponsorship and coverage with the Division of Banking before assuming a separate individual bond is required.
Related Wyoming bond guides
Money Transmitter Bond
$10,000–$500,000
Wyoming money transmitters must furnish a security device under W.S. 40-22-106 with the license application or upon approval. The statute accepts a surety bond, an irrevocable letter of credit, or another similar device the commissioner finds acceptable. The required amount is ten thousand dollars or two and one-half times the outstanding payment instruments, whichever is greater, but not more than five hundred thousand dollars. The commissioner may raise the amount within that maximum when a licensee’s financial condition is impaired. The security runs to the state for claimants to secure faithful performance of money-receipt, handling, transmission, and payment obligations. The statute also allows depositing cash or certain securities with a financial institution as an alternative to the surety or letter of credit. File electronically through NMLS as the Division of Banking requires.
Collection Agency Bond
$10,000
Wyoming collection agencies must furnish ten thousand dollars of security under W.S. 33-11-108 after the Collection Agency Board approves the application. The statute accepts either a surety bond from a company licensed in Wyoming or a ten-thousand-dollar cash deposit with the state treasurer. The bond runs to the state and to claimants and is conditioned on turning over collection proceeds—less agreed charges—to the creditors who placed debts with the agency. Claims go first to the board, which notifies the surety; if the surety does not pay or settle within thirty days, the claimant may sue on the bond. When a surety withdraws, or when the insurance commissioner revokes the surety’s authority, the licensee has thirty days after board notice to file a new bond or lose the right to operate. Each Wyoming office is licensed separately, and board rules require branch offices to meet full licensing requirements—so budget a ten-thousand-dollar bond for each licensed location.
Motor Vehicle Dealer Bond
$25,000
Wyoming vehicle dealers and Wyoming-based manufacturers must file a twenty-five-thousand-dollar surety bond with the Department of Transportation under W.S. 31-16-103(h). The statute requires a surety licensed in Wyoming, attorney-general approval of the form, a guarantee that the dealer will return the license, manufacturer plates, full-use and demo plates, and temporary permits, and a condition that the applicant will not practice fraud or violate dealer-related federal or state law. Official Form MV-424 sets the same twenty-five-thousand-dollar amount payable to WYDOT as agent for the state. The form’s instructions require a one-year obligation, reject continuation certificates, and allow cancellation only when a newly executed bond already covers the same period. The name on the bond must match the Wyoming Secretary of State filing exactly—including capitalization and punctuation—or WYDOT will reject the bond.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Wyoming application
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Last verified 2026-08-12. This guide is based on verified educational content and official sources.
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