Connecticut Mortgage Licensing

Connecticut is currently one of the best states for mortgage licensing. Connecticut does not have a physical office requirement, and they have very high property values. I have been able to get companies licensed there very quickly since I am familiar with their staff and know exactly what they will ask for up front. If you’re looking to obtain additional states as a mortgage broker or lender, Connecticut is one of the best states to get licensed in.

 

Mortgage Banker and Servicer

Mortgage Lender License

Physical In-State Office Required: No
Qualifying Individual: Yes, must show three years of mortgage experience within the last five years. Must complete requirements for CT loan originator license.
Minimum Net Worth: $250,000
Surety Bond: $100,000 to $500,000
Comments: The mortgage lender license allows you to lend and service, the correspondent lender license allows you to lend, and the broker license allows you to broker only.

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$275 – Foreign Entity App
$125 – Registered Agent Fee
$1,100 – Company License Fee
$1,000 – CT $100k Surety Bond

 

Mortgage Banker

Correspondent Mortgage Lender

Physical In-State Office Required: No
Qualifying Individual: Yes, must show three years of mortgage experience within the last five years. Must complete requirements for CT loan originator license.
Minimum Net Worth: $50,000
Surety Bond: $100,000 to $500,000
Comments: The mortgage lender license allows you to lend and service, the correspondent lender license allows you to lend, and the broker license allows you to broker only.

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$275 – Foreign Entity App
$125 – Registered Agent Fee
$1,100 – Company License Fee
$1,000 – CT $100k Surety Bond

 

Mortgage Broker

Mortgage Broker License

Physical In-State Office Required: No
Qualifying Individual: Yes, must show three years of mortgage experience within the last five years. Must complete requirements for CT loan originator license.
Minimum Net Worth: $50,000
Surety Bond: $50,000 to $150,000
Comments: The mortgage lender license allows you to lend and service, the correspondent lender license allows you to lend, and the broker license allows you to broker only.

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$275 – Foreign Corp Entity App
$125 – Registered Agent Fee
$600 – Company License Fee
$500 – CT $50k Surety Bond

 

Regulated by:

Department of Banking
Consumer Credit Division

260 Constitution Plaza
Hartford, CT 06103-1800
Telephone: 860-240-8299
Justyna Kordowska | Justyna.Kordowska@ct.gov
MarleneMannix | Marlene.Mannix@ct.gov | Fax: 860-240-817