New York Mortgage Loan Originator Bond - Entity

Bond Details

• New York MLO Bond (Entity) – $100,000 bond – $600 per year
• New York MLO Bond (Entity) – $150,000 bond – $900 per year
• New York MLO Bond (Entity) – $250,000 bond – $1,500 per year
• New York MLO Bond (Entity) – $500,000 bond – $3,000 per year

Overview

New York Mortgage Loan Originators are required to post a surety bond of $50,000 to $500,000. This surety bond is designed to provide financial protection to consumers and the state, ensuring that MLOs adhere to state laws, regulations, and ethical practices while originating mortgage loan bonds required by the Department of Financial Services.

Bond Coverage & Premiums

NNA Surety Bonds has secured premiums of $6 per $1,000 in liability for all New York mortgage loan originators to obtain this bond without a credit check.

We offer New York MLO bond policies in four different annual coverage amounts to meet your needs, ranging from $100,000 up to $500,000.

Bond Amount: $100,000-$500,000
Bond Duration: 1 Year (12 Months)
Bond Issuer: NNA Surety Bonds
Bond Cost: Approximately $6 per $1000 of liability

These bonds can be issued without the need for a credit check.

NY Mortgage Originator Bond Questions

If you have questions about your purchase today, don’t hesitate to contact our team. Our experts can help determine if this bond is the right fit for you and your business.