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Connecticut Mortgage Lender Surety Bonds


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The State of Connecticut Department of Banking uses the National Mortgage Licensing System (NMLS) to license mortgage lenders, mortgage correspondent lenders, mortgage brokers and mortgage servicers.

Connecticut Statutes Chapter 36a Section 671 – 671d defines the requirements for the Mortgage Lender and mortgage broker regulations. Mortgage lenders are required to obtain a license and surety bond prior to offering any mortgage related services. The surety bond ensures compliance of state laws and honest and ethical performance of mortgage lending duties.

Surety Bond and License Requirements:

  1. Take the written exams after completion of all pre-licensing education.
  2. Completion of the required licensing (MU4) through the National Mortgage Licensing System (NMLS) and pay the applicable FBI Criminal Background Check Fee, State Criminal Background Check Fee, processing fee, credit report fee, and the Connecticut License fee.
  3. Indicate on the application any trade names or dba’s that will be used.
  4. It is required to have an onsite manager or qualifying individual, and must have the following: be physically in the main office location, must be licensed as a mortgage loan originator with Connecticut, have worked in the mortgage business industry for a minimum of three of the last five years.
  5. Provide a balance sheet that is not more than 12 months old and must reflect a tangible net worth of at least $250,000.
  6. Complete the Work Experience Form.
  7. A minimum $100,000 surety bond is a license requirement. The surety bond covers the main office. An addendum is required for additional branch offices. The name of the principal (applicant) must match exactly as the full legal name of the applicant.
  8. Provide Formation Documentation such as a Corporate Charter or Articles of Incorporation, Partnership Agreement, or Articles of Organization and Operating Agreement if applicable.
  9. If applicant answers "Yes" to any of the Disclosure Questions, provide complete details and any applicable documents.
  10. Obtain a certificate of authority from the Connecticut Secretary of State.

How Much Will This Bond Cost?

The premium that you pay a Connecticut Mortgage Lender Surety Bond is dependent on credit. Premiums start at .75% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.

Did You Know?

Connecticut does not limit the number of dba’s used.

Related Links:

Financial Statement
NMLS Registration Portal
NMLS - Connecticut Mortgage Lender License - New Application Checklist
Connecticut Department of Banking - Mortgage Broker Licensing

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.


For a downloadable application