Any person or entity seeking to obtain or maintain a license as a mortgage broker in the state of Connecticut. Required when: Application for an initial mortgage broker license or annual renewal/maintenance of an existing license. Exemptions: Banks, out-of-state banks, Connecticut credit unions, federal credit unions,…
Overview
What it is.
Any person or entity seeking to obtain or maintain a license as a mortgage broker in the state of Connecticut. Required when: Application for an initial mortgage broker license or annual renewal/maintenance of an existing license. Exemptions: Banks, out-of-state banks, Connecticut credit unions, federal credit unions,…
Who usually needs it
Any person or entity seeking to obtain or maintain a license as a mortgage broker in the state of Connecticut.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateCTBond amountThe penal sum is based on the aggregate dollar amount of all residential mortga…Term lengthContinuousObligeeConnecticut Department of BankingRenewalThe bond remains in effect continuously; however, the licensee must annually confirm and, if necessary, adjust the penal sum of the bond based on the loan volume reported for the period ending June 30th. Adjustments are…Bond classLicense BondCategoryFinancial ServicesBondMortgage Licensee BondStatutory referenceConnecticut General Statutes Section 36a-492JurisdictionState
