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New York E&O Insurance for Mortgage Brokers

We offer errors and omissions (E&O) insurance, also known as professional liability insurance, to mortgage brokers and mortgage bankers in New York. Our goal is to provide you with excellent service by providing you with E&O insurance coverage promptly at a reasonable cost. The E&O insurance coverage we offer New York mortgage brokers is available from multiple highly rated insurance companies. E&O insurance coverage is available to mortgage brokers who provide residential loans, commercial loans, reverse mortgages, and hard money mortgage loans.

Why do New York Mortgage Brokers need E&O Insurance?

New York mortgage brokers can be sued for a variety of reasons regarding any problem that may occur between loan origination and closing.

Even if a mortgage broker in New York acted professionally and in good faith during a transaction, he or she can still be sued and could easily face tens of thousands of dollars just in defense cost.

It is therefore vital for New York mortgage brokers to have the proper E&O insurance protection.

What Tasks are Involved in working as a Mortgage Broker in New York?

The process from loan origination to loan closing involves mutiple steps and tasks. Any error or omission made by a mortgage broker during the process can give rise to an E&O claim. Some of the steps and tasks involved include the following:*
* The coverage offered is subject to limitations and exclusions. Please refer to the actual insurance policy for details regarding coverage, exclusions, and limitations.

What Coverage does an E&O Policy provide New York Mortgage Brokers?

Errors and omissions insurance provides coverage for claims made against mortgage brokers by reason of an error or omission in the performance of professional services.