New York 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.
Trusted by industry leaders
How much does a New York mortgage loan servicer bond cost?
$1,500 at the $250,000 amount, the same for every applicant.
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 application. No credit check.
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
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 $250,000 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; a longer term is the same price per year, chosen at checkout.
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
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 sets the price
The premium is fixed at $1,500 at the $250,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
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.
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) | Banking Law § 599-k · 3 NYCRR 420.15 | Varies | From $100 |
| Mortgage Loan Servicer Bond ($250,000) (this page) | 3 NYCRR 418.12 | $250,000 | $1,500 |
Other New York bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your servicer registration today.
$1,500 flat, issued the moment you pay, no credit check. Free until issued.