New York Mortgage Loan Originator Bond - Individual

Bond Details

• New York MLO Bond (Individual) – $10,000 bond – $100 per year
• New York MLO Bond (Individual) – $15,000 bond – $100 per year
• New York MLO Bond (Individual) – $25,000 bond – $150 per year
• New York MLO Bond (Individual) – $50,000 bond – $300 per year
• New York MLO Bond (Individual) – $75,000 bond – $450 per year
• New York MLO Bond (Individual) – $100,000 bond – $600 per year

Overview

Loan originators who are not covered by an originating entity surety bond must maintain an individual surety bond. New York licensed mortgage loan originators are required to maintain a surety bond based on the dollar volume of loans originated by the mortgage loan originator, between $10,000 and $100,000. The NNA has secured premiums of $6 per $1,000 in liability for all New York loan originators to obtain this bond without a credit check.