NY originating entity MLO bonds.
0.6% of the bond amount, $100 minimum.
An originating entity that sponsors licensed mortgage loan originators can cover them all 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. 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.
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 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 entity record with DFS. Wet-ink original mailed on request.
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
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.
Other New York bonds.
Cover your whole roster today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. Free until issued.