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Platinum Bonds Insurance Agency

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Licensed Mortgage Loan Originators Individual Bond

This bond is required for individuals who help people apply for home loans in New York. If you work as a mortgage loan originator, you need this bond to legally do your job. It protects consumers and the state if you make serious mistakes, act dishonestly, or break lending laws. Think of it as a financial safety net t…

Bond amountVaries by license type or project
State or jurisdictionNew York
ObligeeSuperintendent of Financial Services of the State of New York

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.

Google icon5.0 ★★★★★Google review profileBBB iconBBB A+ AccreditedView the agency profile
2323 yearsHelping clients and agents
Overview

What it is.

This bond is required for individuals who help people apply for home loans in New York. If you work as a mortgage loan originator, you need this bond to legally do your job. It protects consumers and the state if you make serious mistakes, act dishonestly, or break lending laws. Think of it as a financial safety net t…

Who usually needs it

Licensed mortgage loan originators in New York who originate mortgage loans and hold a mortgage loan originator license, but are not employees or exclusive agents of a company that already provides surety bond coverage. If an MLO works for an originating entity that maintains a qualifying surety bond, they may be covered under that employer's bond instead o…

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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