Connecticut Debt Negotiator (Exempt Registrant Sponsor of Mortgage Loan)
Debt Negotiator / Sponsored Mortgage Loan Originator Surety Bond
| Dollar Amount of Origination Volume | Bond Amount Required | Bond Term | Annual Premium |
| $0-$30,000,000 | $50,000 | 1 Year | $300 |
| $30,000,000-$49,999,999 | $100,000 | 1 Year | $600 |
| Exceeds $50,000,000 | $150,000 | 1 Year | $900 |
Cost of the Connecticut Debt Negotiator Exempt Registrant Sponsor Bond
The annual premium for a Connecticut Debt Negotiator Exempt Registrant Sponsor Bond ranges from $300 to $900, depending on the required bond amount. Bond amounts range from $50,000 to $150,000 based on dollar amount of origination volume. Review the origination volume above to determine the required bond amount. Complete the application to secure your bond.
How the Bond Works
The bond is conditioned on the debt negotiation licensee and its sponsored mortgage loan originators faithfully performing written agreements and commitments, properly accounting for funds received from debtors or mortgagors, and conducting business in accordance with applicable Connecticut law.
Principal: Connecticut debt negotiation licensee / exempt registrant sponsor
Obligee: Connecticut Banking Commissioner / State of Connecticut
Surety: Surety authorized to write such bonds in Connecticut
The required penal sum can change as mortgage-loan volume changes. Connecticut requires reporting sufficient to confirm that the bond remains at the appropriate level.
How to Get the Connecticut Debt Negotiator Exempt Registrant Sponsor Bond
1. Confirm that the applicant is a Connecticut debt negotiation licensee sponsoring and bonding at least one mortgage loan originator as an exempt registrant.
2. Determine the applicable bond amount from the aggregate Connecticut residential mortgage-loan volume of all sponsored mortgage loan originators.
3. Complete the online application through the NNA/Propeller affiliate link.
4. Confirm the current premium for the required $50,000, $100,000, or $150,000 bond amount.
5. File and maintain the bond through the required Connecticut/NMLS process and adjust coverage if reported loan volume moves into a different tier.
Review Connecticut General Statutes §36a-671d and the Connecticut Department of Banking debt negotiator resources for current requirements.
Get Your Connecticut Debt Negotiator Bond
Start your Connecticut Debt Negotiator bond application online.
For assistance, call 855-215-2160.