Who Requires the Mortgage Broker, Lender or Correspondent Lender Bond and Why Is It Needed?
Connecticut mortgage lenders, mortgage correspondent lenders and mortgage brokers must file a surety bond with the state commissioner. The coverage required, or penal sum is set by the state based on the dollar amount of loans originated by such mortgage loan originator. Applicants should verify their specific penal sum required with the state prior to requesting a quote. The bond ensures compliance with the rules, regulations and guidelines established by the state.
How Much Will My Surety Bond Cost?
Take 2 minutes to provide the basic information required to get the best rates for your Connecticut Mortgage Broker, Lender or Correspondent Lender Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.
If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.
What is Needed to Obtain My License?
All new applications must be submitted to the Department via the National Mortgage Licensing System (“NMLS”).
