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New Articles:
- Hawaii delays NMLS Mortgage Company and LO Licensing
- Colorado Mortgage Companies must now be Licensed
- The SAFE Mortgage Licensing Act
- California DRE now requires Mortgage Loan Originator Endorsement through NMLS
- Washington Adds Servicing Licensing Through NMLSR
Contact Us
For assistance with mortgage licensing, contact us at:Direct Phone: (714) 656-3960
Fax: (714) 829-1444
steven@imlicensing.com
Information herein is for educational purpose only and is not meant to be a complete statement of all state mortgage licensing requirements. Additional State and FHA mortgage licensing requirements may be required. If you need further information, we would encourage you to contact us directly.
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
First and Second Correspondent Mortgage Lender or Mortgage Lender License
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $25,000 ($250,000 to be a Mortgage Lender instead of a Correspondent Mortgage Lender)
Surety Bond: $40,000
State Initial Fee: $1600
Loan Officer Licensing: Yes
Branch Licensing: Yes
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. If you want to do 2nd mortgages, you would need to obtain the 1st and 2nd mortgage license. There is only one surety bond of $40,000 required for both the 1st and 2nd licenses.
Mortgage Broker
First and Second Mortgage Broker License
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $25,000
Surety Bond: $40,000
State Initial License Fee: $800
Loan Officer Licensing: Yes
Branch Licensing: Yes
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) 240-8178
http://www.state.ct.us/dob/pages/ccdiv.htm