NY mortgage loan servicer bonds.
$1,500 flat.
New York registers mortgage loan servicers with the Department of Financial Services, and 3 NYCRR 418.12 conditions that registration on a corporate surety bond in a principal amount of not less than $250,000, with the Superintendent named as additional loss payee. Ours is $1,500 flat, the price you see is the checkout price, 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.
The servicer bond itself is the simple part of the registration. Here is the entire process:
Apply online
Company details, your county, an effective date, and a term. That is the entire application — any credit screen is a soft pull that never shows as a hard inquiry.
Pay & e-sign
This bond is checkout-priced at $1,500 flat, so it issues the moment you pay — your executed bond and power of attorney generate on the spot.
File with DFS
Your executed bond arrives by email, ready to submit to the Department of Financial Services once your registration is approved. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
A business that services residential mortgage loans on New York property registers with the Department of Financial Services unless it is an exempt organization. Section 418.12 of the Superintendent’s Regulations carries the financial-responsibility requirements for those servicers: a corporate surety bond in a principal amount of not less than $250,000, plus a net-worth floor of $250,000 and a quarter of one percent of the aggregate outstanding principal balance serviced.
It's a three-party arrangement: you (the principal), the surety carrier, and the Superintendent of Financial Services (the obligee and named additional loss payee), with New York borrowers as the protected parties. The bond stands behind your conduct as a servicer — escrow handling, payment application, and the loss-mitigation duties New York attaches to servicing.
It is not insurance for you — if the surety pays a claim, you repay the surety. Where the Superintendent determines a servicer has engaged in a pattern of conduct resulting in bona fide consumer complaints of misconduct, the Superintendent may require a bond of twice the amount. 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, an effective date, and a term. That is the entire application.
Start the application →Common questions.
Other New York bonds.
Finish your servicer registration today.
$1,500 flat, issued the moment you pay, soft pull only. Free until issued.