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Platinum Bonds Insurance Agency

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Corporate surety bond for mortgage brokers

Every mortgage broker registered or applying for registration in the State of New York. Required when: The bond is required as a condition of registration and must be submitted upon approval of the registration application. Exemptions: Mortgage brokers that have been placed on inactive status with Departmental approva…

Bond amount"The bond amount is based on the number of New York loan applications received …
State or jurisdictionNew York
ObligeeNew York State Department of Financial Services

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

Amounts can vary

Selected requirement: "The bond amount is based on the number of New York loan applications received …. Other available requirements: "The bond amount is based on the number of New York loan applications received by the broker during the previous calendar year as reported in the annual Volume of Operations Report (VOOR): 0-24 applications: $10,000; 25-99 applications: $2…. Exact options still depend on the obligee, state, and underwriting.

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2323 yearsHelping clients and agents
Overview

What it is.

Every mortgage broker registered or applying for registration in the State of New York. Required when: The bond is required as a condition of registration and must be submitted upon approval of the registration application. Exemptions: Mortgage brokers that have been placed on inactive status with Departmental approva…

Who usually needs it

Every mortgage broker registered or applying for registration in the State of New York.

Pricing & timing

What to expect.

Generic pricing

License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher depending on the specific bond type, state program, or underwriting requirements.

Your quote determines the actual premium.

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

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“Finally a company that understands what customer service is supposed to be.”

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“My bond application was processed and received very quickly.”

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“I highly recommend you do business with these folks.”

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23 years

Offering service to clients and agents alike.

Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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