New York Mortgage Loan Servicer Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $250,000 | 1 Year | $1,500 |
Mortgage loan servicers registered in New York must maintain surety bond coverage as part of state registration requirements. Required by the State of New York, the New York mortgage loan servicer bond helps ensure compliance with applicable servicing requirements and provides financial protection for covered obligations.
Cost of the New York Mortgage Loan Servicer Bond
The cost of the $250,000 New York mortgage loan servicer bond is $1,500 per bond term with NNA Surety. Secure this surety bond today.
How the New York Mortgage Loan Servicer Bond Works
The New York mortgage loan servicer bond protects consumers by holding registered mortgage loan servicers financially accountable for complying with applicable state requirements.
The bond involves three parties:
- Principal: Mortgage loan servicer
- Obligee: State of New York
- Surety: Bonding company
A claim against the bond may be filed for covered obligations involving consumer fees, payments or other servicing requirements. The principal is responsible for repaying valid claims paid by the surety.
How to Get the New York Mortgage Loan Servicer Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the $1,500 bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your New York mortgage loan servicer registration.
Learn more about your New York surety bond options across the state.
Get Your New York Mortgage Loan Servicer Bond
Stay on track with New York registration requirements by securing your mortgage loan servicer bond today. Complete this form or call 855-457-2196 to get bonded.