Nevada Mortgage Broker BondBroker $50K/$75K | Servicer $100K-$300K

Under NRS 645B.042, the Commissioner of Mortgage Lending determines your bond amount based on expected or actual annual loan production. There are two tiers: $50,000 for annual production under $20 million, and $75,000 for production of $20 million or more. For new applicants without production history, the Commissioner sets the initial amount based on expected production. The bond is reassessed based on actual production data.

Mortgage servicers in Nevada are governed by NAC 645F.970, which sets separate bond tiers based on annual servicing volume. The three tiers are: $100,000 (under $50M), $200,000 ($50M-$500M), and $300,000 ($500M or more). This is entirely separate from the mortgage broker bond under NRS 645B. If you both broker and service loans, you may need bonds under both statutes.

For the $50,000 broker bond with excellent credit (750+), expect $500-$1,500/year (1-3%). The $75,000 bond costs $750-$2,250 with strong credit. Fair credit applicants (650-699) pay 5-10% of the bond amount. Servicer bonds are proportionally more expensive due to higher face values: a $100,000 servicer bond costs $1,000-$3,000 with excellent credit.

Yes. Under NRS 645B.042, the corporate surety bond must name both the mortgage broker and all mortgage agents employed by or associated with the mortgage broker as principals. This means a single bond covers the entire operation, including all agents. You do not need separate bonds for individual agents like some states require for individual MLOs.

NRS 645B governs mortgage brokers and agents, with bond amounts of $50,000-$75,000 based on production volume. NAC 645F governs mortgage servicers separately, with bonds of $100,000-$300,000 based on servicing portfolio size. These are distinct regulatory frameworks. A company that both brokers and services loans needs to comply with both, potentially requiring two separate bonds under different statutes.

Yes. Nevada's bond amounts are moderate compared to states like Georgia ($150K flat) or Wisconsin ($120K-$300K), making them more accessible even with lower credit scores. A $50,000 bond at 10% costs $5,000/year, which is manageable for most operations. Higher rates apply but approval is possible with solid financials and clean regulatory history.

The bond must be deposited with the Commissioner of Mortgage Lending. Nevada accepts electronic filing through NMLS. The bond must be executed by a corporate surety satisfactory to the Commissioner. We provide bonds in the correct NMLS format and can assist with the electronic filing process. The bond remains on deposit until properly released by the Commissioner.

If your annual loan production exceeds $20 million, your bond must increase from $50,000 to $75,000. The Commissioner monitors production volumes and may require a bond increase. It is best to proactively increase your bond when you anticipate crossing the threshold. The additional $25,000 in bond coverage typically costs only $250-$750 more per year with good credit.