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Connecticut Mortgage Servicer Bond

Bond Requirements and Online Application

The Connecticut Mortgage Servicer Bond is required by the Banking Commissioner of the State of Connecticut.

Connecticut Mortgage Servicer Bond

According to Section 5 of Public Act 14-89, a “mortgage servicer” is any person who receives payments of principal and interest in connection with a first residential mortgage loan of a client, records such payments on the client’s books, and records and performs other administrative functions as may be necessary to properly carry out the mortgage holder’s obligations under the mortgage agreement. In order to be a licensed mortgage servicer in the State of Connecticut, the applicant must file a surety bond with the Commissioner as outlined in Public Act 14-89. 

Access our online Mortgage Industry Bond application here!

The required bond amount is $100,000 (plus $100,000 for each additional branch office).

The Connecticut Mortgage Servicer Bond ensures that the Principal will faithfully perform all written agreements with or for the benefit of their clients, truly and faithfully accounting for all funds received from the client in the Principal’s capacity as a mortgage servicer, and conducting such mortgage business consistent with the provisions of Sections 36a-715 to 36a-718 of the Connecticut General Statutes and Public Act 14-89. The bond also guarantees compensation for any persons injured by wrongdoing of the Principal.

The Connecticut Mortgage Servicer Bond is continuous in nature; therefore, it remains in full force and effect until cancelled. The surety may cancel the bond at any time with 30 days written notice to the Obligee prior to the effective cancellation date.

Complete our easy online application and get a free quote on your Connecticut Mortgage Servicer Bond!

Licensing Requirements and Fees:

  • Surety Bond
  • Other Trade Names
  • Resident / Registered Agent
  • Qualifying Individual
  • Disclosure Questions
  • Certificate of Authority
  • Financial Statements
  • Formation Document
  • Fidelity Bond
  • Errors and Omissions Coverage

All fees are required by the obligee, not the Surety Company. 

CLICK HERE for more licensing information from the Connecticut Department of Banking.

Apply for your Connecticut Mortgage Servicer Bond today!

How to Get Your Connecticut Mortgage Servicer Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your Connecticut Mortgage Servicer Bond!   If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days

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