Connecticut

Connecticut has three different licenses; a mortgage broker, mortgage lender and mortgage servicer license. There are different net worth requirements for each license. Net worth for a broker needs to be 50k. A lender needs a net worth of 250k. A servicer does not require a net worth but does require a surety bond, fidelity bond and E&O coverage. The servicer license also requires a 100k surety bond per each office location that will be licensed. Connecticut does require an MLO to be licensed for all three licenses; broker, lender, and servicer.

StateLicense NameState FeeBond Premium Est.
SoS FeeMLG ProcessingTotal
ConnecticutMortgage Broker License$600.00$375.00$256.00Call for More Information$1231.00
ConnecticutMortgage Lender License$1100.00$750.00$256.00Call for More Information$2106.00
ConnecticutDebt Collection License$900.00$75.00$557.00Call for More Information$1532.00

License: Mortgage Lender License

  • Operating Status: Broker/Lender
  • Bond Amount: $100,000
  • Net Worth: $250,000
  • Brick & Mortar: No
  • Audited Financials: No

License: Mortgage Correspondent Lender License

  • Operating Status: Broker/Lender
  • Bond Amount: $100,000
  • Net Worth: $50,000
  • Brick & Mortar: No
  • Audited Financials: No

License: Mortgage Broker License

  • Operating Status: Broker/Lender
  • Bond Amount: $50,000
  • Net Worth: $50,000
  • Brick & Mortar: No
  • Audited Financials: No

License: Mortgage Servicer License

  • Operating Status: Servicing
  • Bond Amount: $100,000
  • Net Worth: $0
  • Brick & Mortar: No
  • Audited Financials: No

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