NMLS Electronic Surety Bond (ESB) Resource Center
You’re in good hands with the FIRST Surety Bond Producer (that’s us) that was authorized within the Nationwide Multistate Licensing System and Registry (NMLS) to issue Electronic Surety Bonds (ESB).
Curious how the NMLS ESB started? Check out this interactive timeline.
Below you’ll find some of the commonly asked questions that we’ve encountered with our mortgage customers. If you have your own question, please let us know. Our team would love to help you in any way that we can.
A list of licenses accepting NMLS ESB can be found here: Licenses Accepting NMLS ESB. These license types are required to convert their surety bond to NMLS by the mandatory/option dates listed.
View the NMLS ESB Adoption Map/Table to find out if your state has adopted ESB.
If your state/license type is not listed on the NMLS ESB Adoption Map/Table, this means you will still be able to submit a paper Surety Bond for new applications and license/bond renewals.
Yes, the bond form has been replaced with an electronic version and there will no longer be a paper version. A PDF copy can be downloaded for filing and record keeping outside of the NMLS. Many of initial participating regulators have made changes to the bond language such as:
- Replaced the city, county and state with the Unique NMLS Identification Number
- Added language to cover all properly registered trade names
- Removed corporate seal and power of attorney
Source = https://nationwidelicensingsystem.org/Pages/esbt.aspx
The Conversion Deadline will apply to all existing Surety Bonds of that license type that must be converted from paper copy to an electronic version. Right now, it is the responsibility of the surety company to convert those bonds. But, you must first appoint your Surety Bond Producer (also known as your insurance broker/bonding agent) within the system. Going forward, all renewals, changes, cancellations or reinstatements will be done electronically through the NMLS.
The Mandatory New Application date refers to when the state will no longer accept a paper Surety Bond for that license type. After the dates listed on the table, all Surety Bonds for that license type will have to be issued online through one of the approved Surety Companies and Surety Bond Producers within the NMLS.
View the NMLS Licensees Required to use Electronic Surety Bond (ESB) Tracking FAQs for more information.
There are no special requirements for a surety company or a Surety Bond Producer to gain access online. They simply need to apply and provide the necessary documents to prove their licensing and good standing in any given state. If you can’t find your Surety Bond Producer, you’ll need to select from an authorized company instead; such as Surety Solutions, A Gallagher Company. Here is a list of the authorized Surety Bond Producers.
Licensees must first grant authority to their Surety Bond producer entity in NMLS.
Here is a list of surety companies and producers authorized in the NMLS.
After you grant authority, the bond creation/execution process will begin. Your bond will be entirely managed through the NMLS. You can learn more about the process here:
Surety Bond Companies and Producers will need to complete Phase I and Phase II of the ESB process in the NMLS.
- Learn about the process overview for surety companies here.
- Learn about the process overview for Surety Bond Producers here.
Can’t find the answer to your NMLS ESB question here? The NMLS may have the answer on their resource page. You can also contact the NMLS directly from their website’s contact page.