Connecticut Mortgage Servicer Bond
| Bond Amount Required | Bond Term | Annual Premium |
| $100,000 | 1 Year | $600 |
Connecticut mortgage servicers must maintain a surety bond as part of the state's licensing and financial-protection requirements. The required penal sum is $100,000 for each office location from which the business acts as a mortgage servicer.
Cost of the Connecticut Mortgage Servicer Bond
The supplied NNA/Propeller product price is $600 for a one-year $100,000 Connecticut Mortgage Servicer Bond. NNA also publicly lists $100,000 Connecticut mortgage-servicing surety coverage at a $600 annual premium. Complete this form.
How the Connecticut Mortgage Servicer Bond Works
The bond is conditioned on the mortgage servicer faithfully performing written agreements or commitments with or for the benefit of mortgagors and mortgagees, properly accounting for funds received in its servicing capacity, and conducting its business in accordance with Connecticut mortgage-servicing law.
Principal: Connecticut mortgage servicer applicant/licensee or applicable exempt mortgage servicer registrant
Obligee: Connecticut Banking Commissioner / State of Connecticut
Surety: Surety authorized to write bonds in Connecticut
A mortgagor damaged by a covered failure or wrongful conversion of funds may proceed against the bond, subject to the bond and statutory requirements.
How to Get the Connecticut Mortgage Servicer Bond
1. Confirm the number of Connecticut office locations from which the applicant will act as a mortgage servicer.
2. Complete the online bond application through the NNA/Propeller affiliate link.
3. Provide the requested business and licensing information.
4. Pay the applicable premium; the supplied one-year price for the $100,000 product is $600.
5. Complete the required bond filing and maintain the bond concurrently with the applicable license period.
Review Connecticut General Statutes §36a-719c and the Connecticut Department of Banking mortgage servicer resources for current requirements.
Get Your Connecticut Mortgage Servicer Bond
Start your Connecticut Mortgage Servicer Bond application online.
For assistance, call 855-215-2160.