KS Amends Mortgage Disclosure, Surety Bond Amounts, Allowable Charges

The Kansas Office of the State Bank Commissioner (OSBC) amended three mortgage business rules.  One of those amendments updated the Disclosure of Governing Authority notice to remove the requirement that a consumer must sign and acknowledge receipt of the form (among other changes).

Another amendment requires each mortgage company to maintain a $100,000 minimum surety bond as of January 1 of each calendar year, regardless of where the company is located.  The prior rule had a lower bond amount favoring Kansas-based mortgage companies.  The bond amount may be increased to $1 million if the OSBC determines, for example, that a licensee’s business involves technology or methods that require additional regulatory oversight.

The third amendment clarifies when certain additional charges may be charged to a consumer in a covered transaction, and the conditions that must be met for the charges to be deemed allowable.

The amended regulations became effective on July 24, 2026.