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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.

FAQ

+ What license types are transitioning to Electronic Surety Bond (ESB) Tracking?

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.

+ What states are participating in the ESB Tracking through NMLS?

View the NMLS ESB Adoption Map/Table to find out if your state has adopted ESB.

+ What if my state/license type is not listed?

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.

+ Will the electronic surety bond form look different in NMLS?

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

+ What is the difference between the Conversion Deadline and the Mandatory New Application?

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 renewal, 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.

+ What if my Surety Company or my Surety Bonding Producer isn’t listed as an option on the NMLS System?

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.

+ If I am a licensee and one of my licenses is listed on the NMLS ESB Adoption Map/Table, what do I need to do to start the ESB process?

Licensees must first grant authority to their Surety Bond Producer entity in NMLS

+ Where can I find a list of surety bond companies/surety bond producers authorized in the NMLS to issue bonds for the participating states?

+ If I am a licensee, what happens after I grant authority to my surety bond provider?

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:

+ If I am a surety bond company or surety bond producer, how do I get approved in the NMLS to provide Electronic Surety Bonds?

Surety bond companies and producers will need to complete Phase I and Phase II of the ESB process in the NMLS.

+ I have a different question.

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.

Which states accept NMLS ESB?

View the NMLS ESB Adoption Map/Table on the NMLS website to view recent updates.

NMLS ESB State Map
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