Kansas

Supervised Lender or Mortgage Company Bond

What Is a Kansas Supervised Lender/ Mortgage Company Bond? 

Kansas Statute 9-2211 requires mortgage companies to file a $100,000 surety bond as part of the state licensing process. Additionally, Kansas Statute 16a-2-302 mandates that supervise lenders must file a $100,000 bond with the state before they are granted their license. 

This bond protects the state and the public by ensuring that mortgage professionals make all required payments and act lawfully. 

Note: If you do not have a NMLS number, apply for the Kansas Non-NMLS Supervised Lender Bond instead.

How Much Does a Kansas Supervised Lender or Mortgage Company Bond Cost? 

The cost for a Kansas supervised lender bond starts at $1,000 and a mortgage company bond premium starts at $750. Your exact premium price will vary based on personal credit score and other application details. Apply now for an exact quote with no hidden fees. 

How Do I Get a Kansas Supervised Lender/ Mortgage Company Bond? 

Apply for your Kansas supervised lender and mortgage bond by selecting your bond type and amount. Then, provide your name and NMLS id for the Office of the State Bank Commissioner Division of Consumer and Mortgage Lending and NMLS electronic filing approval. Once your payment is received, we'll mail your official bond documents.

How Fast Can I Get a Supervised Lender or Mortgage Company Bond in Kansas? 

SuretyBonds.com delivers free quotes and Kansas supervised lender or mortgage company bonds quicker than any surety provider. Apply now for a same-day quote (business days only) and select overnight shipping at checkout to expedite delivery.

Why Do You Need a Supervised Lender or Mortgage Company Bond? 

Kansas mortgage professionals agree to conduct business in compliance with applicable state and federal laws, including the Uniform Consumer Credit Code, when they file their bond. If consumers are harmed by a mortgage professional’s business practices, the surety will pay valid claims up to the full bond amount.  

Who Regulates Licensing for Supervised Lenders or Mortgage Companies in Kansas?

The Kansas Office of the State Bank Commissioner Division of Consumer and Mortgage Lending is in charge of all licensing requirements and regulations for those working in the state. You can reach the Division of Consumer and Mortgage Lending by filling out their contact form. 

How Does This Bond Work? 

Your Kansas supervised lender or mortgage company bond is effective until cancelled. If the surety chooses to terminate the bond, they must provide 30 days written notice to you and the Kansas OSBC. 

How Do I Update or Change my Kansas Supervised Lender or Mortgage Company Bond Form? 

If the Office of the State Bank Commissioner requires your bond form to updated for any reason, contact your surety provider. Email [email protected] and explain the needed change. The most common changes for these bonds include updating your name and NMLS id to match how it appears on your license.

How Do I Renew My Supervised Lender or Mortgage Company Bond? 

Supervised lender and mortgage company bonds must be renewed annually. Once you pay your renewal invoice, we'll email renewal instructions to keep your bond active for your next license term. 

How Do Supervised Lenders Apply for a License in Kansas? 

To obtain a Kansas supervised lending or mortgage company license, complete the following steps required by the Nationwide Multistate Licensing System (NMLS):

1. Fill out the correct application: Mortgage Company or Supervised Lender
2. Purchase and file a surety bond in the applicable amount 
3. Submit all required documents through NMLS 
4. Pay all required fees: 

• $650 for a supervised lender license
• $750 for a mortgage company license
• $15 for credit report 
• $36.25 for a background check