Connecticut Mortgage Broker Bond
Mortgage brokers in Connecticut must post a surety bond between $50k and $150k, depending on the volume of loans originated in the previous year.
| 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 Mortgage Broker Bond
NNA Surety offers flat annual premiums of $300 for the $50,000 bond, $600 for the $100,000 bond, and $900 for the $150,000 bond. The correct premium depends on the coverage amount required by the broker's Connecticut origination volume. Complete this form to purchase your bond today.
How the Connecticut Mortgage Broker Bond Works
Connecticut requires a licensed mortgage broker to file a single surety bond with the Banking Commissioner. The bond covers the licensee's main office and branch offices and provides bond coverage for mortgage loan originators sponsored by the licensee.
Principal: Connecticut mortgage broker applicant/licensee
Obligee: Connecticut Banking Commissioner / State of Connecticut
Surety: Surety authorized to write bonds in Connecticut
How to Get the Connecticut Mortgage Broker Bond
1. Determine the required bond amount from the broker's Connecticut residential mortgage loan origination volume. Initial applicants use the $50,000 tier.
2. Complete the online application through the NNA/Propeller affiliate link.
3. Select the required $50,000, $100,000, or $150,000 bond amount and confirm the corresponding $300, $600, or $900 annual premium.
4. Complete the required surety bond filing for the Connecticut Mortgage Broker License.
5. Review origination volume annually and maintain the required penal sum while licensed.
Review the Connecticut Department of Banking Mortgage Surety Bond Coverage Chart for the current coverage calculation.
Get Your Connecticut Mortgage Broker Bond
Start your Connecticut Mortgage Broker Bond application online.
For assistance, call 855-215-2160.