Mortgage Originator/Servicer

The State of Minnesota requires all entities (banks, savings assocations, and credit unions exempted) engaged in the business of mortgage brokering or lending to post either a $50,000 Mortgage Originator bond or a $100,000 Mortgage Servicer bond.

Regulating Department Contact:

Minnesota Department of Commerce
Financial Exams
85 East 7th Place, Suite 500
St. Paul, MN 55155
(651) 282-9855

Statutes:

Minnesota Statutes 58

Rules:

None.

Underwriting Requirements:

  1. Apply for bond HERE
  2. Resumes of key individuals
  3. Business financial statement (if available)
  4. Personal financial statement of each owner
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