New York mortgage loan originator bonds.
From $100.
New York’s Department of Financial Services requires every licensed mortgage loan originator to be covered by a surety bond under Banking Law § 599-k, scaled to loan volume from $10,000 under $1,000,000 originated to $100,000 at $50,000,000 or more. The premium is 0.6% of the bond amount, $100 minimum.
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How much does a New York mortgage loan originator bond cost?
0.6% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
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 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.
Mail the original to DFS
Your executed bond and power of attorney arrive by email, and DFS wants the wet-ink original by mail. Ask for it and we mail it to you; you send it to DFS Mortgage Banking, One State Street, New York, NY 10004, with your signed certification form.
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
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 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.
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
Mail the original to DFS. Your executed bond and power of attorney arrive by email, and DFS wants the wet-ink original by mail. Ask for it and we mail it to you; you send it to DFS Mortgage Banking, One State Street, New York, NY 10004, with your signed certification form.
What sets the price
The premium is 0.6% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
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.
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) | 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) (this page) | 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.
Price and requirements checked on the carrier’s application, . Page updated .
Get your MLO bond on file today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.