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New Articles:
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- March 2008 Mortgage Licensing Update
Contact Us
For assistance with mortgage licensing contact us at:Direct Phone: (714) 656-3960
Fax: (714) 829-1444
ssheasby@integritymortgagelicensing.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
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
Fax: (860) 240-8178
http://www.state.ct.us/dob/pages/ccdiv.htm