New York exempt servicer bonds.
$1,500 flat.
A passive mortgage loan servicer exempted by the Superintendent of Financial Services under 3 NYCRR 418.2(e) still files the $250,000 financial-responsibility bond once DFS grants the exemption. A passive servicer holds New York servicing rights but delegates the actual servicing to a registered servicer. Ours is $1,500 flat.
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How much does a New York exempt servicer bond cost?
$1,500 at the $250,000 amount, the same for every applicant.
Three steps. One sitting.
DFS asks for the bond after it grants the exemption, not with the request. Here is the entire process:
Apply online
Company details, your county, an effective date, and a term. That is the application. No credit check.
Pay & e-sign
This bond is checkout-priced at $1,500 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with DFS
Your executed bond arrives by email in the exact legal name of the exempt entity, ready to submit once the Superintendent has granted the exemption. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
New York recognizes a narrow class of passive mortgage loan servicers: entities that own servicing rights on New York one-to-four family residential mortgages, are affiliated with an entity securitizing those mortgages, and do not themselves service — the work is delegated to a registered servicer. Under 3 NYCRR 418.2(e) such an entity may submit a written request to the Superintendent for an exemption from registration.
The exemption does not remove the financial-responsibility bond. Section 418.12 still requires a corporate surety bond in a principal amount of not less than $250,000 from a surety authorized in New York, issued in the applicant’s exact legal name as principal — and DFS asks for it after the exemption is granted, not with the request itself.
It is not insurance for you — if the surety pays a claim, you repay the surety. It's a three-party arrangement between you (the principal), the carrier, and the Superintendent of Financial Services (the obligee), with New York borrowers as the protected parties. We track the term and send renewal notices 60 and 30 days out.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $250,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with DFS. Your executed bond arrives by email in the exact legal name of the exempt entity, ready to submit once the Superintendent has granted the exemption. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $1,500 at the $250,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields — company details, your county, an effective date, and a term. That is the entire application.
Start the application →Common questions.
New York mortgage license bonds.
We write 6 mortgage license bonds in New York. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Mortgage Broker Bond | 3 NYCRR 410.14 (Banking Law § 591-a) | Varies | From $100 |
| Exempt Mortgage Loan Servicer Bond ($250,000) (this page) | 3 NYCRR 418.2(e) · 418.12 | $250,000 | $1,500 |
| Mortgage Banker Bond | 3 NYCRR 410.8 (Banking Law § 591) | $50,000 or more | From $300 |
| Mortgage Loan Originator Bond (Individual) | Banking Law § 599-k · 3 NYCRR 420.15 | Varies | From $100 |
| Mortgage Loan Originator Bond (Originating Entity) | Banking Law § 599-k · 3 NYCRR 420.15 | Varies | From $100 |
| Mortgage Loan Servicer Bond ($250,000) | 3 NYCRR 418.12 | $250,000 | $1,500 |
Other New York bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Bond your exemption today.
$1,500 flat, issued the moment you pay, no credit check. Free until issued.