New York originating entity MLO bonds.
From $100.
An originating entity can cover all the licensed mortgage loan originators it sponsors on one § 599-k surety bond filed with the Department of Financial Services. The amount tracks how many originators you sponsor, from $100,000 under 10 up to $500,000 at 25 or more. The premium is 0.6% of the bond amount, $100 minimum.
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How much does a New York originating entity MLO bond cost?
0.6% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
One bond covers the whole roster of originators you sponsor. Here is the entire process:
Apply online
Entity details, your NMLS ID, the bond amount your sponsored-originator count requires, 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
Under Banking Law § 599-k, an MLO who is an employee or exclusive agent of an originating entity can be covered by that entity's surety bond, provided the bond covers each originator not otherwise covered by a qualifying bond. That is what this bond is: one filing with the Department of Financial Services that carries your whole sponsored roster.
It's a three-party arrangement: your entity (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 Article 12-E compliance by the originators you sponsor — the licensing, conduct, and disclosure duties that attach to residential mortgage origination in this state.
It is not insurance for you — if the surety pays a claim, you repay the surety, and § 599-k requires a replacement bond restoring the face amount after any recovery. Grow past a tier boundary and the bond amount steps up with you; 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 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 — entity details, your NMLS ID, 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) | Banking Law § 599-k · 3 NYCRR 420.15 | Varies | From $100 |
| Mortgage Loan Originator Bond (Originating Entity) (this page) | 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 .
Cover your whole roster today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.