Connecticut Mortgage Bonds
NFP Surety is a major provider of the Connecticut Mortgage Broker Bond, required by the CT Banking Commissioner. The amount of the CT Mortgage Broker Bond is between $50,000 and $150,000, dependent upon the loan volume in Connecticut.
A Connecticut Mortgage Broker is defined as any person or entity who, for compensation, takes a residential mortgage loan application or negotiates terms of a residential mortgage loan, which is secured by a mortgage on an interest in one-to-four family, owner-occupied, residential property located in Connecticut, that is to be made by a mortgage lender, whether or not the mortgage lender is required to be licensed under Connecticut law.
The State of Connecticut requires applicants have a net worth of at least $50,000 and have at least three years experience in mortgage business within the five years immediately preceding the license application.
For questions regarding obtaining a Connecticut Mortgage Broker License, please visit http://www.ct.gov/dob/cwp/view.asp?a=2232&q=417182&dobnav_gid=1663.
To apply for your Connecticut Mortgage Broker Surety Bond, please call (800) 863-3210 to speak with our knowledgeable and friendly sales staff, or complete an online or downloadable application to apply.