A mortgage broker is an intermediary who finds mortgage loans at the best rates on behalf of a customer. In most states, a mortgage broker must be licensed by the state and carry insurance. A mortgage broker bond is required to obtain or renew his/her broker license. A Mortgage broker Surety Bond provides consumer protection as a condition to granting licenses related services and other professional regulated licenses. Each state has its own surety bond amount as well as Bond Form. The Bond form can be obtained from the oblige in the State you are applying for.