If you are engaged as a mortgage banker in New York you are required under Article 12-D of the State of New York Banking Law to file a New York Mortgage Banker Surety Bond as a condition of licensure.
Bonds Express offers a New York Mortgage Banker Surety Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The New York Mortgage Banker Surety Bond holds you accountable for your business decisions.
By possessing a New York Mortgage Banker Surety Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.