License & Permit Bonds

Become a Mortgage Broker: Here’s How!


Record low-interest rates, refinancing and shifting demands for housing contribute to a hopping mortgage business. Here’s how to become a licensed and bonded mortgage broker.

What Exactly Is a Mortgage Broker’s Job?

A mortgage broker connects people to lenders, finding the right solutions for their credit, timing and financial goals. As described by Investopedia:

A mortgage broker is a financial intermediary who matches home borrowers with potential lenders in order to obtain the best possible mortgage terms for the borrower.

A mortgage broker can save a borrower time and effort during the application process, and potentially a lot of money over the life of the loan.

Mortgage brokers earn commissions, known as origination fees, based on the size of the loan, and may work independently or as en employee of a larger mortgage brokerage firm

How Do You Become a Mortgage Broker?

Basically, you need to get licensed.  To do so, according to, you will:

  • Take a 20-hour pre-licensure class. Key topics include federal and state laws and regulations governing mortgages, loan ethics and mortgage origination.


  • Pass the SAFE Mortgage Loan Originator Test

The National Mortgage Licensing System and Registry (NMLS) administers both the classes and the test. Classes are offered frequently, and you can take the test when you are ready—no need to wait for a certain time of year. Note that the test will contain a section pertaining to specific regulations in your state.

Prerequisite: Get Bonded

Generally, state regulations require you to obtain a mortgage brokers license bond before you can obtain your mortgage brokers license. Importantly, this prerequisite bond guarantees you will comply with all applicable government rules and regulations associated with the responsibilities of being a mortgage broker.

The Mortgage Licensing Group further explains:

When mortgage brokers get bonded, the bond serves as an external financial guarantee that in the event of a breach of duties (including compliance to any relevant rules and regulations), then the agency requiring the bond can make a claim on the bond and seek financial compensation for the breach.

As leading, national provider of license and permit bonds, Colonial Surety Company makes obtaining a Mortgage Brokers License Bond easy, affordable, digital and instant—in every state! Colonial offers our lowest possible rate, direct to customers.

Let Colonial help with your first step toward becoming a mortgage broker. Obtain your Mortgage Brokers License Bond  today,

Get Your Mortgage Broker’s License Bond Here!


Starting Out As a Mortgage Broker

 With your bond and license in hand, you are ready to start working. offers these tips:


  • Since job success as a mortgage broker depends on connections with clients and lending institutions, most mortgage brokers get their first jobs at established brokerage firms with existing relationships in place.


  • It’s your responsibility to keep up on the latest developments on mortgage lending in your area….Brokering mortgages is a job that demands constant attention to the changing real estate and lending landscape.

Don’t forget: Colonial Surety Company is here to help you get started by securing your Mortgage Broker’s License Bond. With Colonial’s unique, direct and digital process, you are just a few clicks away:

  • Get a quote online
  • Fill out your information
  • Enter your payment method.
  • Print or download your bond from your home or office.

 Get Your Mortgage Brokers License Bond Here!

 Licensed and admitted in all U.S. states and territories, Colonial Surety Company  proudly offers our lowest rate for mortgage brokers license bonds directly to customers. Incorporated since 1930, Colonial Surety Company is an A (Excellent) rated insurance company by A.M. Best and U.S. Treasury listed.