Connecticut Mortgage Broker Requirements

Mortgage brokers in Connecticut are regulated and licensed by the Department of Banking, Consumer Credit Division.

Connecticut has a separate mortgage license for first and second mortgages. Mortgage brokers seeking both first and second mortgage licenses in Connecticut must have a person act as a supervisor authority with three (3) years of experience in the past five (5) years. This supervisory authority may only be over one location. Licensees are required to maintain a surety bond in the amount of $40,000, submit notarized or audited financial statements and maintain a minimum tangible net worth in the amount of $25,000.

Loan originators must be registered and can only be registered with one license at a time, and must be registered out of the licensed location. Connecticut does not require a physical office within the state to obtain either a first or second Connecticut mortgage license.

Connecticut Mortgage Licensing Fees

The state of Connecticut charges a broker license fee of $400 each for both first and second mortgage licenses. The loan originator registration fee is $100. Loan originators are not required to be registered for both first and second mortgages if the company is licensed for both. The license is renewable every two years with the next expiration falling on 09/2008.

To begin your Connecticut mortgage license application, fill out the form below and we will contact you today.