NY mortgage loan originator bonds.
0.6% of the bond amount, $100 minimum.
New York licenses mortgage loan originators through the Department of Financial Services, and Banking Law § 599-k requires every licensed MLO to be covered by a surety bond whose penal sum reflects the dollar volume of loans originated. The DFS schedule runs from $10,000 under $1,000,000 originated to $100,000 at $50,000,000 or more. 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.
An MLO bond is a filing, not an underwriting project. Here's the entire process:
Apply online
Your details, your originator NMLS number, the bond amount from the DFS schedule, 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 through NMLS
Your executed bond and power of attorney arrive by email, ready to upload to your MLO license record with DFS. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
New York licenses mortgage loan originators under Article 12-E of the Banking Law, administered by the Department of Financial Services through NMLS. Banking Law § 599-k requires each mortgage loan originator to be covered by a surety bond, with the penal amount maintained in an amount that reflects the dollar volume of loans the originator writes, as determined by the Superintendent.
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 stands behind your compliance with Article 12-E — the licensing, conduct, and disclosure duties that attach to originating residential mortgage loans in this state.
It is not insurance for you — if the surety pays a claim, you repay the surety, and § 599-k requires you to promptly file a replacement bond restoring the face amount after any recovery. If your sponsoring originating entity already bonds you under its own § 599-k bond, you do not file an individual bond. We track the term and send renewal notices 60 and 30 days out.
You need this bond if you're
One application, issued instantly.
These are the actual issuing fields — your details, your originator NMLS number, the bond amount, and an effective date.
Start the application →Common questions.
Other New York bonds.
Get your MLO bond on file today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.