If you are engaged as an originating entity mortgage loan originator in New York you are required under Article 12-E of the State of New York Banking Law to file a New York Mortgage Loan Originator (Originating Entity)) Bond as a condition of licensure.
Bonds Express offers a New York Mortgage Loan Originator (Originating Entity) 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 Loan Originator (Originating Entity)) Bond holds you accountable for your business decisions.
By possessing a New York Mortgage Loan Originator (Originating Entity)) Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.