NY mortgage broker bonds.
0.6% of the bond amount, $100 minimum.
Every mortgage broker registered under Banking Law § 591-a files a corporate surety bond with the Superintendent of Financial Services — 3 NYCRR 410.14 sets it at no less than $10,000 and no more than $100,000, scaled to the number of New York applications you take. Premium is 0.6% of the bond amount, $100 minimum, your exact price appears at the application, and the bond issues the moment you pay. Any credit screen is a soft pull only — it never affects your score.
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Three steps. One sitting.
A broker registration bond is a filing, not an underwriting project. Here is the entire process:
Apply online
Company details, your county, the bond amount your application count requires, and an effective date. That is the entire application.
Pay & e-sign
Your exact premium — 0.6% of the bond amount, $100 minimum — appears before you pay, and the executed bond generates the moment you do.
File with DFS
Your executed bond and power of attorney arrive by email, ready to file with the Superintendent for your broker registration. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
New York registers mortgage brokers — it does not license them the way it licenses bankers. Section 410.14 of the Superintendent’s Regulations requires every mortgage broker registered pursuant to Banking Law § 591-a to file with the Superintendent a corporate surety bond in a principal amount of not less than $10,000 or more than $100,000, based on its number of applications.
It's a three-party arrangement: you (the principal), the surety carrier, and the Superintendent of Financial Services (the obligee), with New York borrowers as the protected parties. The bond backs your compliance with Article 12-D and the Superintendent’s Regulations — the conduct, disclosure, and fee rules that govern soliciting and placing residential mortgage loans in this state.
It is not insurance for you — if the surety pays a claim, you repay the surety. The amount is redetermined from your annual Volume of Operations Report, and the Superintendent may require twice the scheduled bond from a registrant found to have engaged in a pattern of conduct producing bona fide consumer complaints. We track the term and send renewal notices 60 and 30 days out.
You need this bond if you are
One application, issued instantly.
These are the actual issuing fields — company details, your county, the bond amount, and an effective date.
Start the application →Common questions.
Other New York bonds.
Finish your broker registration today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.