---
title: Professional Liability for Mortgage Brokers
description: Professional Liability for Mortgage Brokers
---

[![2012 PLRisk Logo-Feb-28-2023-09-30-45-0928-PM](https://blog.plrisk.com/hs-fs/hubfs/2012%20PLRisk%20Logo-Feb-28-2023-09-30-45-0928-PM.png?width=1650&height=500&name=2012%20PLRisk%20Logo-Feb-28-2023-09-30-45-0928-PM.png "2012 PLRisk Logo-Feb-28-2023-09-30-45-0928-PM")](https://plrisk.com/)

[![PL Risk](https://blog.plrisk.com/hs-fs/hubfs/raw_assets/public/Pl_Risk_June_2020/images/plrisk-50x140-logo.png?width=300&height=300&name=plrisk-50x140-logo.png "PL Risk")](https://plrisk.com/)

- [HOME](https://plrisk.com/)
- [CUSTOMER CENTER](https://plrisk.com/#) 
    - [Make A Payment](https://plrisk.epaypolicy.com/)
    - [Submit An Application](https://www.plrisk.com/applications/)
    - [Confirmation of Coverage](mailto:info@plrisk.com)
    - [Download Applications](https://plrisk.com/applications)
    - [File a Claim](https://plrisk.com/file-a-claim)
    - [Claim Scenarios](https://plrisk.com/claim-scenarios)
    - [FAQs](https://plrisk.com/faqs)
    - [Industry Tools](https://plrisk.com/industry-tools)
    - [Free Cyber Hotline](https://plrisk.com/free-cyber-hotline)
    - [Get Appointed](https://plrisk.com/for-agents)
- [INDUSTRIES WE SERVE](https://plrisk.com/#) 
    - [Architects & Engineers](https://plrisk.com/architects-engineers/)
    - [Financial Institutions](https://plrisk.com/financial-institutions/)
    - [Healthcare / Medical](https://plrisk.com/healthcare-medical/)
    - [Insurance](https://plrisk.com/insurance/)
    - [Technology](https://plrisk.com/technology/)
    - [Consulting](https://plrisk.com/consulting/)
    - [Legal](https://plrisk.com/legal)
    - [Real Estate](https://plrisk.com/real-estate/)
    - [Media](https://plrisk.com/media)
    - [Miscellaneous Services](https://plrisk.com/miscellaneous-services/)
- [PRODUCTS](https://plrisk.com/#) 
    - [Overview](https://plrisk.com/products)
    - [Errors and Omissions](https://plrisk.com/products/errors-omissions)
    - [Directors and Officers](https://plrisk.com/products/directors-officers/)
    - [Commercial Crime](https://plrisk.com/products/commercial-crime/)
    - [Employment Practices](https://plrisk.com/products/employment-practices/)
    - [Cybersecurity](https://plrisk.com/products/fiduciary/)
    - [Fiduciary](https://plrisk.com/products/cybersecurity/)
- MERGERS & ACQUISITIONS 
    - [Reps and Warranties Sell](https://www.plrisk.com/wp-content/uploads/2023/06/PLR-Reps-and-Warranties-SellSide-Onesheet.pdf)
    - [Reps and Warranties](https://www.plrisk.com/wp-content/uploads/2023/06/PLR-Reps-and-Warranties-Onesheet.pdf)
- CANNABIS 
    - [Overview](https://www.plrisk.com/products/cannabis-insurance)
    - [Account Highlights](https://blog.plrisk.com/hubfs/PLR%20-%20Cannabis%20Assets/PLR-CANNABIS-account%20highlights_Onesheet-V2.pdf)
    - [Commercial Property](https://www.plrisk.com/cannabis-commercial-property/)
    - [Commercial Crime](https://www.plrisk.com/cannabis-business-insurance-commercial-crime)
    - [Cyber Liability](https://www.plrisk.com/wp-content/uploads/2023/08/PLR-12-CANNABIS-Cyber-Insurance-Onesheet-V8.pdf)
    - [D&O](https://blog.plrisk.com/hubfs/PLR%20-%20Cannabis%20Assets/PLR-CANNABIS-D%26O-Onesheet-V1.pdf)
    - [E&O](https://blog.plrisk.com/hubfs/PLR%20-%20Cannabis%20Assets/PLR-CANNABIS-E%26O-Onesheet-V1.pdf)
    - [EPLI](https://www.plrisk.com/wp-content/uploads/2023/08/PLR-10-CANNABIS-Employment-Practices-Liability-Onesheet-V9.pdf)
    - [General Liability](https://www.plrisk.com/wp-content/uploads/2023/08/PLR-02-CANNABIS-General-Liability-Onesheet-V4-1.pdf)
    - [Product Liability](https://www.plrisk.com/wp-content/uploads/2023/08/PLR-03-CANNABIS-Product-Liability-Onesheet-V2-4.pdf)
    - [Workers’ Comp](https://www.plrisk.com/wp-content/uploads/2023/08/PLR-05-CANNABIS-Workers-Compensation-Onesheet-Reduced.pdf)
- [SELECT](https://www.plrisk.com/products/select-division/)
- [ABOUT](https://plrisk.com/#) 
    - [Our Team](https://plrisk.com/our-team/)
    - [Careers](https://www.plrisk.com/careers/)
    - [Our Charity](https://plrisk.com/helping-hands/)
- NEWSROOM 
    - [Blog](https://blog.plrisk.com)
    - [Newsletters](https://www.plrisk.com/plr-newsletters/)
- QUOTE ONLINE 
    - [Hiscox NOW Small Business Insurance](https://www.hiscox.com/partner-agent/plriskadvisors)
    - [Custom Quote](https://www.hiscox.com/partner-agent/plriskadvisors)

- CUSTOMER  
  CENTER
  
  
  
    - [MAKE A PAYMENT](https://plrisk.epaypolicy.com/)
    - [SUBMIT AN APPLICATION](https://www.plrisk.com/applications/)
    - [CONFIRMATION OF COVERAGE](mailto:info@plrisk.com)
    - [DOWNLOAD APPLICATIONS](https://plrisk.com/applications)
    - [FILE A CLAIM](https://plrisk.com/file-a-claim)
    - [CLAIM SCENARIOS](https://plrisk.com/claim-scenarios)
    - [FAQs](https://plrisk.com/faqs)
    - [INDUSTRY TOOLS](https://plrisk.com/industry-tools)
    - [FREE CYBER HOTLINE](https://plrisk.com/free-cyber-hotline)
    - [GET APPOINTED](https://plrisk.com/for-agents)
- INDUSTRIES  
  WE SERVE
  
  
  
    - [TITLE AGENTS & MORTGAGE BROKERS](https://www.plrisk.com/real-estate/)
    - [REAL ESTATE](https://www.plrisk.com/real-estate/)
    - [LEGAL](https://www.plrisk.com/legal/)
    - [MEDIA](https://www.plrisk.com/media/)
    - [ARCHITECTS & ENGINEERS](https://www.plrisk.com/architects-engineers/)
    - [FINANCIAL INSTITUTIONS](https://www.plrisk.com/financial-institutions/)
    - [CONSULTING](https://www.plrisk.com/consulting/)
    - [MISC. SERVICES](https://www.plrisk.com/miscellaneous-services/)
    - [HEALTHCARE MEDICAL](https://www.plrisk.com/healthcare-medical/)
    - [INSURANCE](https://www.plrisk.com/insurance/)
    - [TECHNOLOGY](https://www.plrisk.com/technology/)
    - [SPACs](https://www.plrisk.com/spacs/)
- PRODUCTS
  
  
  
    - [PRODUCTS OVERVIEW](https://plrisk.com/products)
    - [Errors & Omissions](https://plrisk.com/products/errors-omissions)
    - [Directors & Officers](https://plrisk.com/products/directors-officers/)
    - [Commercial Crime](https://plrisk.com/products/commercial-crime/)
    - [EPLI](https://plrisk.com/products/employment-practices/)
    - [Fiduciary Liability](https://plrisk.com/products/fiduciary/)
    - [Cybersecurity](https://plrisk.com/products/cybersecurity/)
- [MERGERS & ACQUISITIONS](https://www.plrisk.com/wp-content/uploads/2023/03/PLR-Managing-Insurance-Coverage-eBook-03272023.pdf)
  
  
  
    - [Reps and Warranties](https://www.plrisk.com/wp-content/uploads/2023/06/PLR-Reps-and-Warranties-Onesheet.pdf)
    - [Reps and Warranties Sell](https://www.plrisk.com/wp-content/uploads/2023/06/PLR-Reps-and-Warranties-SellSide-Onesheet.pdf)
- [CANNABIS](https://www.plrisk.com/products/cannabis-insurance)
  
  
  
    - [Overview](https://www.plrisk.com/products/cannabis-insurance)
    - [Account Highlights](https://blog.plrisk.com/hubfs/PLR%20-%20Cannabis%20Assets/PLR-CANNABIS-account%20highlights_Onesheet-V2.pdf)
    - [Commercial Crime](https://www.plrisk.com/cannabis-business-insurance-commercial-crime)
    - [Commercial Property](https://www.plrisk.com/cannabis-commercial-property/)
    - [Cyber Liability](https://www.plrisk.com/cannabis-business-insurance-cyber-liability/)
    - [D&O](https://www.plrisk.com/cannabis-directors-officers-do-liability/)
    - [E&O](https://www.plrisk.com/cannabis-errors-omissions-eo/)
    - [EPLI](https://www.plrisk.com/cannabis-employment-practices-liability/)
    - [General Liability](https://www.plrisk.com/cannabis-general-liability/)
    - [Product Liability](https://www.plrisk.com/cannabis-product-liability/)
    - [Workers’ Comp](https://www.plrisk.com/cannabis-business-insurance-workers-compensation/)
- [SELECT](https://www.plrisk.com/products/select-division/)
- ABOUT
  
  
  
    - [Our Team](https://plrisk.com/about-us/)
    - [Our Charity](https://plrisk.com/helping-hands/)
    - [Careers](https://www.plrisk.com/careers/)
- NEWSROOM
  
  
  
    - [BLOG](https://blog.plrisk.com)
    - [NEWSLETTERS](https://www.plrisk.com/plr-newsletters/)
- QUOTE  
  ONLINE
  
  
  
    - [Hiscox NOW Small Business Insurance](https://www.hiscox.com/partner-agent/plriskadvisors)
    - [Custom Quote](https://www.hiscox.com/partner-agent/plriskadvisors)

×

### Get A Quote

# Professional Liability for Mortgage Brokers

[Mike Smith](https://blog.plrisk.com/author/mike-smith)

 Dec 9, 2013, 1:03:06 PM

**[![Professional Liability for Mortgage Brokers](https://blog.plrisk.com/hs-fs/hubfs/Imported_Blog_Media/shutterstock_128324486-300x200.jpg?width=300&height=200&name=shutterstock_128324486-300x200.jpg)](https://blog.plrisk.com/hubfs/Imported_Blog_Media/shutterstock_128324486-1.jpg)Professional Liability for Mortgage Brokers**

Mortgage brokers provide an essential service for real estate buyers and owners. Whether purchasing or refinancing a property, their customers depend on them to help secure the services of a qualified lender and then perform the necessary tasks to close the transaction. It’s important to remind your mortgage broker clients or prospects that things don’t always go as planned when arranging financing for the purchase of real estate.

A closing can fall through because of the improper or late filing of paperwork, or problems can occur due to the failure to properly obtain an appraisal. Should these or other errors & omissions result in financial losses for their customer, the customer may file claims for damages against your client.

Professional Liability insurance can provide the protection a broker needs to defend themselves against claims of alleged negligence as well as the financial resources necessary to pay any settlement or judgment. A mortgage loan can be complicated, meaning there is always going to be an opportunity for genuine or even perceived errors, which puts your client in a vulnerable position. The most important thing for your client to remember is that their general liability insurance alone will not protect them against any errors or omissions.

[PLRisk Advisors](http://www.plrisk.com/) is a leading wholesale insurance brokerage covering the professional liability market. Our team of seasoned professionals has the depth of knowledge to help our agency partners secure the best quality of coverage for their clients. We provide [Professional Liability](http://www.plrisk.com/products) insurance products for a number of [professionals](http://www.plrisk.com/professions), including mortgage brokers. For more information, contact us at **(855) 403-5982. **

## Recent Posts

- [Tracking Cookies Beginning to Run Afoul of Consumer Data Protection Laws](https://blog.plrisk.com/tracking-cookies-beginning-to-run-afoul-of-consumer-data-protection-laws)
- [PLRisk welcomes Jeffery Phi to their growing Wholesale Broker roster](https://blog.plrisk.com/plrisk-welcomes-jeffery-phi-to-their-growing-wholesale-broker-roster)
- [PLRisk Welcomes Michelle Delaney as Wholesale Account Manager](https://blog.plrisk.com/plrisk-welcomes-michelle-delany-as-wholesale-account-manager)
- [PLRisk Spotlights Rachel Coughlin](https://blog.plrisk.com/plrisk-spotlights-rachael-coughlin)
- [PLRisk congratulates Matt Culkin on joining NJYIP Board](https://blog.plrisk.com/plrisk-congratulates-matt-culkin-on-joining-njyip-board)

Search

### Share this post

[![Share on facebook](https://7528309.fs1.hubspotusercontent-na1.net/hub/7528309/hubfs/raw_assets/public/mV0_d-web-default-modules_hubspot/img/facebook-color.png?width=24&name=facebook-color.png)](http://www.facebook.com/share.php?u=https%3A%2F%2Fblog.plrisk.com%2Fblog%2Fprofessional-liability-for-mortgage-brokers%3Futm_medium%3Dsocial%26utm_source%3Dfacebook) [![Share on linkedin](https://7528302.fs1.hubspotusercontent-na1.net/hub/7528302/hubfs/raw_assets/public/mV0_d-web-default-modules_hubspot/img/linkedin-color.png?width=24&name=linkedin-color.png)](http://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fblog.plrisk.com%2Fblog%2Fprofessional-liability-for-mortgage-brokers%3Futm_medium%3Dsocial%26utm_source%3Dlinkedin) [![Share on twitter](https://7528302.fs1.hubspotusercontent-na1.net/hub/7528302/hubfs/raw_assets/public/mV0_d-web-default-modules_hubspot/img/x-twitter-color.png?width=24&name=x-twitter-color.png)](https://twitter.com/intent/tweet?original_referer=https%3A%2F%2Fblog.plrisk.com%2Fblog%2Fprofessional-liability-for-mortgage-brokers%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&url=https%3A%2F%2Fblog.plrisk.com%2Fblog%2Fprofessional-liability-for-mortgage-brokers%3Futm_medium%3Dsocial%26utm_source%3Dtwitter&source=tweetbutton&text=) [![Share on email](https://7528311.fs1.hubspotusercontent-na1.net/hub/7528311/hubfs/raw_assets/public/mV0_d-web-default-modules_hubspot/img/email-color.png?width=24&name=email-color.png)](mailto:?subject=Check%20out%20https%3A%2F%2Fblog.plrisk.com%2Fblog%2Fprofessional-liability-for-mortgage-brokers%3Futm_medium%3Dsocial%26utm_source%3Demail%20&body=Check%20out%20https%3A%2F%2Fblog.plrisk.com%2Fblog%2Fprofessional-liability-for-mortgage-brokers%3Futm_medium%3Dsocial%26utm_source%3Demail)

### Subscribe to our blog

[![PLRisk-LogoWhite](https://blog.plrisk.com/hs-fs/hubfs/PLRisk-LogoWhite.png?width=400&height=123&name=PLRisk-LogoWhite.png "PLRisk-LogoWhite")](https://plrisk.com/)

### Stay connected to learn the latest from PLRisk

By clicking submit I agree to the  [Privacy Policy](https://www.plrisk.com/privacy-policy)  and [Terms & Conditions.](https://www.plrisk.com/terms-conditions/)

###### 795 Franklin Avenue, Suite 210 Franklin Lakes, NJ 07417 Tel: (855) 403-5982 Fax: 201-847-9174

- RESOURCES 
    - [DOWNLOAD APPLICATIONS](https://plrisk.com/applications)
    - [FILE A CLAIM](https://plrisk.com/file-a-claim)
    - [CLAIM SCENARIOS](https://plrisk.com/claim-scenarios)
    - [FAQs](https://plrisk.com/faqs)
    - [INDUSTRY TOOLS](https://plrisk.com/industry-tools)
    - [FREE CYBER HOTLINE](https://plrisk.com/free-cyber-hotline)
    - [GET APPOINTED](https://plrisk.com/for-agents)
- PRODUCTS 
    - [PRODUCTS OVERVIEW](https://plrisk.com/products)
    - [ERRORS & OMISSIONS](https://plrisk.com/products/errors-omissions)
    - [DIRECTORS & OFFICERS](https://plrisk.com/products/directors-officers/)
    - [COMMERCIAL CRIME](https://plrisk.com/products/commercial-crime/)
    - [EMPLOYMENT PRACTICES](https://plrisk.com/products/employment-practices/)
    - [FIDUCIARY LIABILITY](https://plrisk.com/products/fiduciary/)
    - [CYBERSECURITY](https://plrisk.com/products/cybersecurity/)
- PROFESSIONS 
    - [TITLE AGENTS & MORTGAGE BROKERS](https://plrisk.com/real-estate/)
    - [REAL ESTATE](https://plrisk.com/real-estate/)
    - [LEGAL](https://plrisk.com/legal)
    - [MEDIA](https://plrisk.com/media)
    - [ARCHITECTS & ENGINEERS](https://plrisk.com/architects-engineers/)
    - [FINANCIAL INST.](https://plrisk.com/financial-institutions/)
    - [CONSULTING](https://plrisk.com/consulting/)
    - [MISC. SERVICES](https://plrisk.com/miscellaneous-services/)
    - [HEALTHCARE/MEDICAL](https://plrisk.com/healthcare-medical/)
    - [INSURANCE](https://plrisk.com/insurance/)
    - [TECHNOLOGY](https://plrisk.com/technology/)
- ABOUT 
    - [OUR TEAM](https://www.plrisk.com/about-us/)
    - [BLOG](https://blog.plrisk.com/)
    - [OUR CHARITY](https://plrisk.com/helping-hands/)
    - [CAREERS](https://www.plrisk.com/careers/)
    - [PRIVACY POLICY](https://www.plrisk.com/privacy-policy)
    - [TERMS & CONDITIONS](https://www.plrisk.com/terms-conditions/)
    - [ACCESSIBILITY STATEMENT](https://www.plrisk.com/accessibility-statement/)
    - [STATE LICENSES](https://www.plrisk.com/state-licenses/)

Copyright © 2023 PLRisk | All Rights Reserved | [Privacy Policy](https://www.plrisk.com/privacy-policy)

PLRisk Specialty Insurance Agency LLC is a licensed insurance broker legally operating in the state of New Jersey under license number NJ 3002329782 and in California DBA NJ PLRisk Specialty Insurance Agency LLC, License number CA 6009937