Michigan — 2nd Mortgage Broker, Lender, Servicer Registrant - NMLS Bond
Applying as a Michigan second-mortgage broker, lender and servicer registrant? Use this registrant bond route for your company's requested activities, then complete the separate NMLS bond steps.
Continue to our secure checkout partner, Propeller (opens in a new tab).
- Recorded state
- Michigan
- Bond type
- Combined Mortgage Origination & Servicing Bond
- Category
- Financial services
What this bond does
The bond secures compliance with the Secondary Mortgage Loan Act and payment of money due under its conditions.
- Who needs it
- Companies using the second-mortgage registration route whose requested bond includes servicing.
- Who it protects
- The bond is payable to the commissioner. It supports qualifying claims by borrowers, loan applicants and servicing customers, as well as specified commissioner claims.
Your bond option
This is the option on record for this bond.
- Bond optionPurchase Now (opens in a new tab)Continue to our secure checkout partner, Propeller (opens in a new tab).
The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Michigan Secondary Mortgage Loan Act, sections 2, 3a and 6 (opens in a new tab)Checked October 22, 2026
- Michigan DIFS: second mortgage license and registration FAQ (opens in a new tab)Checked October 22, 2026
- NMLS: executing a bond (opens in a new tab)Checked October 22, 2026
Have these ready
- Your company's legal name, NMLS ID and second-mortgage registration category.
- A description of brokering, lending and servicing, including borrower funds received before closing.
- DIFS's requested sum and effective date; financial records for the applicable licensing review.
Questions about this bond
Does registration remove the servicing requirement?
Use the requirement for your actual servicing activity. Section 6 specifies $125,000 for servicing, rather than the $25,000 category for lending or qualifying brokering.
Must I have an executed bond before applying here?
No. Start with company and license details. Surety execution and your NMLS signature and delivery steps follow the bond application.
Does this authorize individual originators?
The company registration does not authorize an individual to originate loans. DIFS identifies separate MLO licensing requirements, subject to statutory exemptions.
Is net worth the same as the bond amount?
No. Section 6 separately states licensee net worth requirements: $25,000 for lending or brokering with funds received before closing, and $100,000 for servicing. Follow DIFS's instructions for your registration.