Connecticut Mortgage Servicer Addendum for Mortgage Lenders
Supplemental Mortgage Servicer Surety Bond
| Bond Amount Required | Bond Term | Annual Premium |
| $100,000 | 1 Year | $600 |
Connecticut mortgage lenders that provide mortgage servicing must satisfy the state's supplemental mortgage-servicing financial-protection requirements. NNA's addendum product provides the $100,000 surety bond coverage required for the main office, with additional coverage requirements applying to covered branch offices.
Cost of the Connecticut Mortgage Servicer Addendum for Mortgage Lenders
NNA Surety currently lists the $100,000 Connecticut Mortgage Servicer Addendum for Mortgage Lenders at an annual premium of $600. The supplied bond amount and price are therefore confirmed. Complete this form.
How the Bond Works
The bond is conditioned on the principal faithfully performing written agreements and commitments with or for the benefit of mortgagors and mortgagees, properly accounting for funds received in its mortgage-servicing capacity, and conducting its servicing business in accordance with Connecticut law.
Principal: Connecticut mortgage lender acting as an exempt mortgage servicer registrant
Obligee: Connecticut Banking Commissioner / State of Connecticut
Surety: Surety authorized to write such bonds in Connecticut
A mortgagor damaged by a covered failure to perform or wrongful conversion of funds may proceed against the bond, subject to the statutory and bond terms.
How to Get the Connecticut Mortgage Servicer Addendum for Mortgage Lenders
1. Confirm the mortgage lender will provide mortgage servicing in Connecticut and identify each office location from which servicing will be conducted.
2. Complete the online application through the NNA/Propeller affiliate link.
3. Purchase the required $100,000 coverage for the applicable office location and pay the $600 annual premium.
4. Complete the Mortgage Servicer Surety Bond and applicable addendum filing through NMLS as required.
5. Maintain the surety bond, fidelity bond, and errors-and-omissions coverage throughout the applicable license or registration period.
Review Connecticut General Statutes §36a-719c for current mortgage-servicer bond requirements.
Get Your Connecticut Mortgage Servicer Addendum
Start your Connecticut Mortgage Servicer Addendum application online.
For assistance, call 855-215-2160.