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New York mortgage license surety bonds
New York Mortgage License Bonds
New York mortgage bankers, mortgage brokers, mortgage loan originators, originating entities, mortgage loan servicers, and related mortgage businesses may need surety bond coverage for licensing or registration with the New York State Department of Financial Services. Jet Insurance Company helps New York mortgage professionals quote, purchase, renew, replace, and manage the bond required for their DFS or NMLS filing.
Use this page to compare New York Mortgage Banker, Mortgage Broker, Mortgage Loan Originator, Originating Entity MLO, Mortgage Loan Servicer, and Mortgage Broker, Lender and/or Servicer bond requirements, view Jet pricing, and get filing support for your New York mortgage license.
Need help? Call (855) 516-3348 or email [email protected].
Last updated: July 2026. New York mortgage bond requirements can change. Confirm the final license type, registration type, bond amount, filing method, and DFS or NMLS checklist before filing.
New York Mortgage Bond Quick Answers
Which bonds are covered?
This page covers New York Mortgage Banker Bonds, Mortgage Broker Bonds, Mortgage Loan Originator Bonds, Originating Entity MLO Bonds, Mortgage Loan Servicer Bonds, and Mortgage Broker, Lender and/or Servicer Bonds.
Who regulates these licenses?
The New York State Department of Financial Services regulates mortgage bankers, mortgage brokers, mortgage loan originators, mortgage loan servicers, and related mortgage activity.
What are common limits?
Mortgage banker bonds range from $50,000 to $500,000. Mortgage broker bonds range from $10,000 to $100,000. Individual MLO bonds range from $10,000 to $100,000. Mortgage loan servicer bonds are commonly $250,000.
How do I get help?
Call (855) 516-3348 or email [email protected].
Choose Your New York Mortgage License Bond
The correct New York mortgage bond depends on whether the business is licensed as a mortgage banker, registered as a mortgage broker, registered as a mortgage loan servicer, or needs mortgage loan originator coverage through an individual MLO bond or originating entity bond. New York bond amounts are tied to loan volume, application count, number of covered MLOs, or the DFS servicer application requirement.
Mortgage Banker Bond
For New York licensed mortgage bankers that make or fund residential mortgage loans.
Bond limits: $50,000 to $500,000
Amount basis: Aggregate dollar amount of New York loans closed
Starting price: $249 for one year or $25 monthly for the $50,000 bond.
Mortgage Broker Bond
For New York registered mortgage brokers that solicit, process, place, or negotiate residential mortgage loans without funding them.
Bond limits: $10,000 to $100,000
Amount basis: Number of New York applications
Starting price: $79 for one year for the $10,000 bond.
Mortgage Loan Originator Bond
For New York MLOs who are not covered by an originating entity MLO surety bond.
Bond limits: $10,000 to $100,000
Amount basis: Aggregate dollar amount of New York loans originated by the MLO
Starting price: $79 for one year for the $10,000 bond.
Originating Entity MLO Bond
For originating entities that cover some or all sponsored New York mortgage loan originators under one entity bond.
Bond limits: $100,000 to $500,000
Amount basis: Number of covered New York sponsored MLOs
Starting price: $499 for one year or $50 monthly for the $100,000 bond.
Mortgage Loan Servicer Bond
For New York mortgage loan servicer applicants or registered servicers when DFS requires an original mortgage loan servicer surety bond.
Common bond limit: $250,000
Starting price: $1,249 for one year or $125 monthly for the $250,000 bond.
Broker, Lender and/or Servicer Bond
For businesses whose DFS or NMLS checklist references broader New York mortgage broker, mortgage banker, mortgage lender, mortgage servicer, MLO, or originating entity coverage.
Common limits: $10,000 to $500,000 depending on license type and volume
Starting price: $79 for one year for the $10,000 bond.
Important: New York DFS says originating entities and mortgage loan originators must use the MLO surety bond forms for MLO coverage. DFS will not accept the mortgage broker or banker form as coverage for the MLO surety bond requirement.
New York Mortgage License Bond Pricing
Jet pricing below follows the same mortgage bond pricing method used on the other state pages, with a $79 minimum one-year premium. The one-year price is generally 0.5% of the bond limit. If the calculated one-year price ends in zero, Jet subtracts $1 before calculating multi-year options. The two-year price is 1.75 times the one-year price, and the three-year price is 2.5 times the one-year price. Monthly pricing is 10% of the one-year price, rounded when needed.
| Bond Limit | Common New York Use | Monthly | 1 Year | 2 Years | 3 Years |
|---|---|---|---|---|---|
| $10,000 | Mortgage Broker Bond or individual MLO Bond at the lowest tier | $8 | $79 | $138 | $198 |
| $15,000 | Individual MLO Bond for $1,000,000 to $7,499,999 in NY loans originated | $8 | $79 | $138 | $198 |
| $25,000 | Mortgage Broker Bond or individual MLO Bond tier | $13 | $125 | $219 | $313 |
| $50,000 | Mortgage Banker Bond, Mortgage Broker Bond, or individual MLO Bond tier | $25 | $249 | $436 | $623 |
| $75,000 | Mortgage Broker Bond or individual MLO Bond tier | $38 | $375 | $656 | $938 |
| $100,000 | Mortgage Banker Bond, Mortgage Broker Bond, individual MLO Bond, or originating entity MLO Bond tier | $50 | $499 | $873 | $1,248 |
| $150,000 | Mortgage Banker Bond or originating entity MLO Bond tier | $75 | $749 | $1,311 | $1,873 |
| $250,000 | Mortgage Banker Bond, originating entity MLO Bond, or Mortgage Loan Servicer Bond | $125 | $1,249 | $2,186 | $3,123 |
| $350,000 | Mortgage Banker Bond for $200,000,000 to $299,999,999 in NY loans closed | $175 | $1,749 | $3,061 | $4,373 |
| $500,000 | Highest Mortgage Banker Bond tier or originating entity MLO Bond tier | $250 | $2,499 | $4,373 | $6,248 |
Pricing shown is preferred-tier pricing and may vary based on underwriting approval, bond form, selected term, effective date, final required bond amount, license type, registration type, NY loan volume, application count, number of sponsored MLOs, DFS requirements, and NMLS filing status.
Get New York Mortgage Bond Pricing
Start a quote online and select the New York bond that matches your license, registration, or DFS checklist. Jet can help confirm whether you need a Mortgage Banker Bond, Mortgage Broker Bond, Mortgage Loan Originator Bond, Originating Entity MLO Bond, Mortgage Loan Servicer Bond, or Mortgage Broker, Lender and/or Servicer Bond.
Questions? Call (855) 516-3348 or email [email protected].
New York Mortgage Bond Requirements
New York mortgage bond requirements depend on the exact DFS license or registration. Mortgage bankers file a corporate surety bond based on the aggregate dollar amount of New York loans closed. Mortgage brokers file a corporate surety bond based on the number of New York applications. Mortgage loan originators must be covered by an individual MLO surety bond unless covered by a qualifying originating entity MLO surety bond.
New York DFS mortgage loan servicer application resources also reference an original mortgage loan servicer bond in the amount of $250,000. The name of the principal insured on the servicer bond must match exactly the full legal name of the applicant.
| New York License or Authority | Bond Amount | How the Amount Works | Quote |
|---|---|---|---|
| Mortgage Banker | $50,000 to $500,000 | Based on aggregate dollar amount of New York loans closed, as reported in the annual Volume of Operations Report. | Get Quote |
| Mortgage Broker | $10,000 to $100,000 | Based on the number of New York applications, as reported in the annual Volume of Operations Report. | Get Quote |
| Mortgage Loan Originator | $10,000 to $100,000 | Based on the aggregate dollar amount of New York loans originated by the MLO in the prior calendar year, unless covered by an originating entity bond. | Get Quote |
| Originating Entity MLO Bond | $100,000 to $500,000 | Based on the number of covered New York sponsored MLOs. | Get Quote |
| Mortgage Loan Servicer | Commonly $250,000 | DFS mortgage loan servicer application resources require an original mortgage loan servicer bond in the amount of $250,000. | Get Quote |
| Mortgage Broker, Lender and/or Servicer | $10,000 to $500,000 depending on license type | Use the banker schedule for lender/banker authority, broker schedule for broker registration, MLO schedule for MLO coverage, and servicer requirement for mortgage loan servicing. | Get Quote |
Filing note: New York DFS MLO surety bond instructions state that original surety bond and certification forms should be sent to the New York State Department of Financial Services, Mortgage Banking – MLO Surety Bond, One State Street, New York, NY 10004. Confirm the current filing method, bond form, DFS checklist, and NMLS requirements before mailing or submitting any bond.
New York Mortgage Bond Amounts
New York uses separate schedules for mortgage banker bonds, mortgage broker bonds, individual mortgage loan originator bonds, and originating entity MLO bonds. The correct bond amount should be confirmed after reviewing the license type, volume, application count, covered MLO count, and current DFS filing instructions.
New York Mortgage Banker Bond Amounts
| Aggregate Dollar Amount of NY Loans Closed | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| $0 to $9,999,999 | $50,000 | $25 | $249 |
| $10,000,000 to $29,999,999 | $100,000 | $50 | $499 |
| $30,000,000 to $99,999,999 | $150,000 | $75 | $749 |
| $100,000,000 to $199,999,999 | $250,000 | $125 | $1,249 |
| $200,000,000 to $299,999,999 | $350,000 | $175 | $1,749 |
| $300,000,000 or more | $500,000 | $250 | $2,499 |
New York Mortgage Broker Bond Amounts
| Number of New York Applications | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| 0 to 24 | $10,000 | $8 | $79 |
| 25 to 99 | $25,000 | $13 | $125 |
| 100 to 299 | $50,000 | $25 | $249 |
| 300 to 599 | $75,000 | $38 | $375 |
| 600 or more | $100,000 | $50 | $499 |
New York Individual Mortgage Loan Originator Bond Amounts
| Aggregate Dollar Amount of NY Loans Originated by MLO | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| Less than $1,000,000 | $10,000 | $8 | $79 |
| $1,000,000 to $7,499,999 | $15,000 | $8 | $79 |
| $7,500,000 to $14,999,999 | $25,000 | $13 | $125 |
| $15,000,000 to $29,999,999 | $50,000 | $25 | $249 |
| $30,000,000 to $49,999,999 | $75,000 | $38 | $375 |
| $50,000,000 or more | $100,000 | $50 | $499 |
New York Originating Entity MLO Bond Amounts
| Number of New York Sponsored MLOs Covered | Required Bond Amount | Jet Monthly Price | Jet 1-Year Price |
|---|---|---|---|
| Less than 10 | $100,000 | $50 | $499 |
| 10 to 15 | $150,000 | $75 | $749 |
| 16 to 24 | $250,000 | $125 | $1,249 |
| 25 or more | $500,000 | $250 | $2,499 |
Adjustment note: Mortgage banker and mortgage broker bond amounts are determined from the annual Volume of Operations Report, and adjustments are made after the applicable VOOR filing. DFS can require a higher bond amount when additional consumer protection is needed.
New York Mortgage Banker Bond
The New York Mortgage Banker Bond applies to mortgage bankers licensed under New York Banking Law Section 591. The bond amount is based on the aggregate dollar amount of New York loans closed, as reported to DFS through the annual Volume of Operations Report.
License Type
New York Mortgage Banker License.
Bond Limits
$50,000 to $500,000 based on New York loans closed.
Starting Price
$249 for one year or $25 monthly for the $50,000 bond.
Use this option when the New York DFS or NMLS checklist references mortgage banker authority, mortgage lender activity, making loans, funding loans, or a New York Mortgage Banker Bond.
New York Mortgage Broker Bond
The New York Mortgage Broker Bond applies to mortgage brokers registered under New York Banking Law Section 591-a. The bond amount is based on the number of New York applications taken, as reported to DFS through the annual Volume of Operations Report.
Registration Type
New York Mortgage Broker Registration.
Bond Limits
$10,000 to $100,000 based on the number of New York applications.
Starting Price
$79 for one year for the $10,000 bond.
Use this option when the New York DFS or NMLS checklist references mortgage broker registration, brokered loans, applications taken, placing loans, or a New York Mortgage Broker Bond.
New York Mortgage Loan Originator Bond
Each New York mortgage loan originator must be covered by a surety bond unless covered by a qualifying originating entity MLO surety bond. The individual MLO bond amount is based on the aggregate dollar amount of New York loans originated by the MLO in the prior calendar year.
License Type
New York Mortgage Loan Originator License.
Bond Limits
$10,000 to $100,000 based on the MLO’s New York origination volume.
Starting Price
$79 for one year for the $10,000 or $15,000 bond.
Use this option when a New York MLO is not covered by an originating entity MLO bond or when DFS requires an individual MLO surety bond and certification form.
New York Originating Entity MLO Bond
An originating entity may obtain a New York MLO surety bond covering some or all licensed mortgage loan originators it employs or uses as independent contractors. This bond can satisfy the covered MLOs’ individual surety bond requirements when it provides the required coverage and certification.
Coverage Type
New York Originating Entity Mortgage Loan Originator Surety Bond.
Bond Limits
$100,000, $150,000, $250,000, or $500,000 based on the number of covered sponsored New York MLOs.
Starting Price
$499 for one year or $50 monthly for the $100,000 bond.
Use this option when an originating entity wants to cover multiple New York sponsored MLOs with one entity MLO bond instead of separate individual MLO bonds.
New York Mortgage Loan Servicer Bond
The New York Mortgage Loan Servicer Bond applies when DFS requires an original mortgage loan servicer surety bond for mortgage loan servicer registration or exemption application resources. DFS mortgage loan servicer application resources list a $250,000 original mortgage loan servicer bond furnished by a surety company authorized to conduct business in New York.
Registration Type
New York Mortgage Loan Servicer Registration or applicable servicer filing.
Common Bond Limit
$250,000, subject to current DFS instructions and application requirements.
Jet Pricing
$1,249 for one year, $125 monthly, $2,186 for two years, or $3,123 for three years.
Use this option when the New York DFS or NMLS checklist references mortgage loan servicer registration, mortgage loan servicer application resources, passive mortgage loan servicer filing, or a New York Mortgage Loan Servicer Bond.
New York Mortgage Broker, Lender and/or Servicer Bond
The New York Mortgage Broker, Lender and/or Servicer Bond option is for mortgage businesses whose DFS or NMLS requirement references broader New York mortgage authority, including mortgage banker, mortgage broker, mortgage lender, mortgage loan originator, originating entity, or mortgage loan servicer coverage.
Authority Type
New York mortgage banker, mortgage broker, mortgage lender, mortgage loan originator, originating entity, mortgage loan servicer, or combined mortgage authority.
Common Bond Limits
$10,000 to $500,000 depending on license type, application count, loan volume, MLO count, and DFS instructions.
Starting Price
$79 for one year for a $10,000 bond or $249 for one year for a $50,000 mortgage banker bond.
Use this option when the DFS or NMLS requirement references mortgage broker, mortgage lender, mortgage banker, MLO coverage, originating entity coverage, mortgage servicer, or combined mortgage activity rather than a narrower bond title.
New York Mortgage Bond Comparison
New York mortgage bond requirements depend on the license or registration type, the company’s annual Volume of Operations Report, the MLO’s prior-year origination volume, the number of covered sponsored MLOs, and whether mortgage loan servicing authority is involved.
| Requirement | Regulator | Bond Amount | Main Filing Point |
|---|---|---|---|
| Mortgage Banker Bond | New York State Department of Financial Services | $50,000 to $500,000 based on NY loans closed | DFS and NMLS company license record |
| Mortgage Broker Bond | New York State Department of Financial Services | $10,000 to $100,000 based on NY applications | DFS and NMLS company registration record |
| Individual MLO Bond | New York State Department of Financial Services | $10,000 to $100,000 based on NY loans originated by the MLO | DFS MLO surety bond filing and certification |
| Originating Entity MLO Bond | New York State Department of Financial Services | $100,000 to $500,000 based on covered sponsored NY MLO count | DFS originating entity MLO surety bond filing and certification |
| Mortgage Loan Servicer Bond | New York State Department of Financial Services | Commonly $250,000 | DFS or NMLS servicer application/registration record |
How New York Mortgage Bond Quotes Work
1
Confirm the New York License
Identify whether the checklist references Mortgage Banker, Mortgage Broker, Mortgage Loan Originator, Originating Entity MLO coverage, Mortgage Loan Servicer, or another mortgage authority.
2
Confirm the Bond Amount
Use the banker schedule for loans closed, broker schedule for applications, MLO schedule for individual origination volume, originating entity schedule for covered MLO count, or servicer instructions for mortgage loan servicing.
3
Buy and File
After purchase, Jet provides the bond or filing guidance based on the current New York DFS and NMLS process.
Need a New York Mortgage License Bond?
Jet can help you choose the correct New York Mortgage Banker Bond, Mortgage Broker Bond, Mortgage Loan Originator Bond, Originating Entity MLO Bond, Mortgage Loan Servicer Bond, or Mortgage Broker, Lender and/or Servicer Bond, review pricing, and get the bond issued for licensing or registration.
New York mortgage bond pricing starts at $79 for one year for a $10,000 MLO or Mortgage Broker Bond, $249 for one year for a $50,000 Mortgage Banker Bond, and $1,249 for one year for a $250,000 Mortgage Loan Servicer Bond.
Questions? Call (855) 516-3348 or email [email protected].
How Are New York Mortgage Bonds Filed?
New York mortgage filings may involve DFS forms, NMLS company records, original surety bond forms, and certification forms depending on the license type. DFS MLO surety bond instructions state that an original surety bond and certification form should be sent to the Department at the Mortgage Banking – MLO Surety Bond address.
The bond should match the exact legal name, license or registration type, NMLS ID, DFS record, bond amount, effective date, and applicable sponsored MLO coverage. For servicer bonds, DFS states the principal insured name on the bond must match exactly the full legal name of the applicant as authorized by the Secretary of State of New York.
DFS Filing
Confirm whether the bond is filed as an original DFS form, a certification form, an NMLS filing, or another DFS-required submission.
MLO Coverage
Confirm whether each New York MLO is covered by an individual MLO bond or an originating entity MLO bond before submitting renewal or sponsorship documents.
Bond Changes
Contact Jet before changing the legal name, DBA, NMLS ID, bond amount, license type, VOOR data, covered MLO count, sponsorship, servicer status, or filing method.
New York Mortgage Bond Renewals, Changes, and Cancellations
Renewing Your Bond
Keep the New York mortgage bond active for all periods of licensing or registration. Review the bond before renewal to confirm the legal name, NMLS ID, license type, VOOR data, application count, loan volume, MLO coverage, sponsored MLO count, servicer status, and bond amount remain correct.
Changing the Bond
A bond increase may be required if VOOR data, loan volume, application count, MLO origination volume, sponsored MLO count, servicer status, or DFS instructions change. A bond rider may also be needed for legal name or sponsorship changes.
Cancelling or Replacing Your Bond
New York DFS MLO bond instructions state that MLO bond coverage cannot be cancelled except upon written notice to the Department by registered or certified mail, with cancellation not effective less than 30 days after DFS receives notice. Do not cancel a required New York mortgage bond until replacement coverage is accepted or the license no longer requires coverage.
What Does a New York Mortgage License Bond Cover?
A New York mortgage license bond is designed to protect the Superintendent of Financial Services and New York residential mortgage consumers. The mortgage banker and mortgage broker bond forms are used for reimbursement of consumer fees or other charges determined to be improperly charged or collected, and for certain past due DFS examination costs, assessments, unpaid penalties, or other obligations.
New York MLO bonds provide surety coverage for the mortgage loan originator or covered originating entity MLOs as required by Banking Law and DFS regulations. The Mortgage Loan Servicer Bond supports DFS mortgage loan servicer application and registration requirements.
A surety bond is different from insurance for the bonded party. If Jet pays a valid claim, the bonded principal is responsible for reimbursing Jet for the amount paid and related costs under the indemnity agreement.
How to Avoid New York Mortgage Bond Claims
- Maintain continuous bond coverage for the correct New York mortgage banker, mortgage broker, MLO, originating entity, or mortgage loan servicer requirement.
- Match the bond to the exact legal name, DBA, NMLS ID, DFS record, license or registration type, and required bond amount.
- Use the correct Volume of Operations Report data to determine the mortgage banker or mortgage broker bond amount.
- Use the correct New York MLO origination volume to determine individual MLO bond coverage.
- Use the correct number of covered sponsored New York MLOs to determine originating entity MLO bond coverage.
- Use the DFS-required form for MLO coverage; do not substitute a mortgage banker or mortgage broker form for the MLO surety bond requirement.
- Do not conduct New York mortgage banker, broker, MLO, or servicer activity without the correct license, registration, exemption, or sponsorship.
- Do not charge unauthorized or improper consumer fees.
- Do not advertise or represent loan terms in a false, misleading, or deceptive way.
- Submit required VOOR filings, mortgage call reports, annual reports, renewals, license amendments, and bond riders on time.
- Maintain required books, records, consumer disclosures, servicing records, complaint documentation, and DFS correspondence.
- Keep company, branch, sponsorship, MLO, servicer, and license information current in NMLS and with DFS.
- Contact Jet before cancelling, replacing, or changing the bond.
Want to Know More About Mortgage Bond Processes?
Popular Mortgage License Bond Guides
New York Mortgage License Bond FAQ
What New York mortgage bonds are covered on this page?
This page covers New York Mortgage Banker Bonds, Mortgage Broker Bonds, Mortgage Loan Originator Bonds, Originating Entity MLO Bonds, Mortgage Loan Servicer Bonds, and Mortgage Broker, Lender and/or Servicer Bonds.
What is the New York Mortgage Banker Bond amount?
The New York Mortgage Banker Bond amount ranges from $50,000 to $500,000 based on the aggregate dollar amount of New York loans closed.
How much does a New York Mortgage Banker Bond cost?
Jet pricing for a $50,000 New York Mortgage Banker Bond is $249 for one year, $25 monthly, $436 for two years, or $623 for three years. Higher limits cost more.
What is the New York Mortgage Broker Bond amount?
The New York Mortgage Broker Bond amount ranges from $10,000 to $100,000 based on the number of New York applications.
How much does a New York Mortgage Broker Bond cost?
Jet pricing for a $10,000 New York Mortgage Broker Bond is $79 for one year, $8 monthly, $138 for two years, or $198 for three years. Higher limits cost more.
What is the New York Mortgage Loan Originator Bond amount?
The New York individual Mortgage Loan Originator Bond amount ranges from $10,000 to $100,000 based on the aggregate dollar amount of New York loans originated by the MLO in the prior calendar year.
Can a New York originating entity cover MLOs with one bond?
Yes. An originating entity may use a New York Originating Entity MLO Surety Bond to cover sponsored MLOs. The bond amount is $100,000 for fewer than 10 covered MLOs, $150,000 for 10 to 15, $250,000 for 16 to 24, and $500,000 for 25 or more.
What is the New York Mortgage Loan Servicer Bond amount?
New York DFS mortgage loan servicer application resources reference an original Mortgage Loan Servicer Bond in the amount of $250,000. Confirm the current DFS or NMLS checklist before ordering.
Can the mortgage banker or broker bond satisfy the New York MLO bond requirement?
DFS instructions state that originating entities and mortgage loan originators must use the Mortgage Loan Originator surety forms. DFS will not accept the mortgage broker or banker form as coverage for the MLO surety bond requirement.
Where are New York MLO surety bonds sent?
DFS MLO surety bond instructions state that the original surety bond and certification form should be sent to New York State Department of Financial Services, Mortgage Banking – MLO Surety Bond, One State Street, New York, NY 10004. Confirm the current instructions before mailing.
Who should I contact for New York mortgage bond help?
Call Jet at (855) 516-3348, email [email protected], or start a quote online for help choosing, purchasing, renewing, replacing, or changing a New York mortgage license bond.
Get the New York Mortgage Bond Required for Your License
Start by choosing the New York bond that matches your license, registration, company record, MLO coverage, origination volume, application count, VOOR data, sponsored MLO count, mortgage servicer status, or DFS checklist. Jet will help with quoting, bond purchase, renewal support, and filing guidance when applicable.
New York mortgage bond pricing starts at $79 for one year for a $10,000 Mortgage Broker or MLO Bond, $249 for one year for a $50,000 Mortgage Banker Bond, and $1,249 for one year for a $250,000 Mortgage Loan Servicer Bond.
Call: (855) 516-3348
Email: [email protected]