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Mortgage licensing / Connecticut

Connecticut Exempt Mortgage Servicer Registrant

company licence · NMLS CTEXEMPTSERVICER_C · DOB

This registration is required for any CT Mortgage Lender who will be performing servicing activities under their CT license.

Requirements (12)

  1. Step 1

    License/Registration Fees: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: NMLS (Filing Submission)

  2. Step 2

    Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with the Connecticut Secretary of the State.

    Submitted via: NMLS

  3. Step 3

    Primary Contact Employees: The following individuals must be entered into the Contact Employees section of the Company Form (MU1): • Primary Company Contact • Primary Consumer Complaint Contact

    Submitted via: NMLS

  4. Step 4

    Electronic Surety Bond: Must provide an ESB in the amount of $100,000 for the main office plus $100,000 for each additional branch that will be performing servicing activities for CT. See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Electronic Surety Bond should be furnished and submitted by a surety company authorized to conduct business in Connecticut. See the ESB Adoption Table and the ESB for NMLS Licensees page of the NMLS Recourse Center for more information. Note: Surety bonds submitted via the Document Uploads section will not satisfy this requirement.

    Submitted via: Electronic Surety Bond in NMLS

  5. Step 5

    Fidelity Bond: Upload the FULL policy (includes Declaration Page and Certificate of Insurance to NMLS reflecting a minimum of $300,000 in coverage (see chart below). Refer to Section 36a-719c of the Connecticut General Statutes. This policy must name the Commissioner of the CT Department of Banking as an additional loss payee. Note: This Document should be named [Fidelity Bond].

    Submitted via: Upload in NMLS: Upload this document in NMLS under the Document Type “Fidelity Bond” in the Document Uploads section of the company (MU1) form.

  6. Step 6

    Errors and Omissions Coverage: Upload the FULL policy (includes Declaration Page and Certificate of Insurance) to NMLS reflecting a minimum of $300,000 in coverage (see chart below). Refer to Section 36a-719c of the Connecticut General Statutes. This policy must name the Commissioner of the CT Department of Banking as an additional loss payee. Note: This document should be named [Errors and Omissions Coverage].

    Submitted via: Upload in NMLS: Upload this document in NMLS under the Document Type “Errors and Omissions” in the Document Uploads section of the Company (MU1) Form.

  7. Step 7

  8. Step 8

    "Covered institution" means a mortgage servicer that services, or subservices for others, at least two thousand mortgage loans primarily for personal, family or household use secured by residential property in the United States, excluding whole loans owned and loans being interim serviced prior to sale, as reported on the mortgage call report on the system or any other document required by the commissioner.

  9. Step 9

    Financial Statements for Covered Institutions: A covered institution shall annually procure an external audit, including audited financial statements and audit reports that shall include: • Annual financial statements, including a balance sheet, income statement, cash flows, notes and supplemental schedules prepared in accordance with GAAP; • Assessment of the internal control structure; • Computation of tangible net worth; • Validation of mortgage servicing rights valuation and reserve methodology; • Verification of adequate fidelity and errors and omissions insurance; • Testing of controls related to risk management activities, including compliance and stress testing, as applicable. A covered institution shall maintain the Federal Housing Finance Agency's Eligibility Requirements for Enterprise Single-Family Seller/Servicers for minimum capital ratio, net worth, and liquidity whether or not the mortgage servicer is approved for government sponsored enterprise servicing. Note: Written policies and procedures shall be maintained for implementing the capital and servicing liquidity requirements including a sustainable written methodology for satisfying these requirements.

    Submitted via: NMLS

  10. Step 10

    Board of Directors for Covered Institutions: A covered institution shall establish and maintain a board of directors responsible for oversight of the covered institution. The board of directors shall: • Establish a written corporate governance framework, including appropriate internal controls designed to monitor corporate governance and assess compliance with the corporate governance framework; • Monitor and ensure institutional compliance with the rules established under sections 36a-715 to 36a-719l, inclusive, of the general statutes and accurately and timely complete and submit regulatory reports, including filing the mortgage call report; and • Establish internal audit requirements appropriate for the size, complexity, and risk profile of the servicer, with appropriate independence to provide a reliable evaluation of the servicer's internal control structure, risk management, and governance.

    Submitted via: NMLS

  11. Step 11

    Risk Management Program for Covered Institutions: A covered institution shall establish a risk management program under the oversight of the board of directors that identifies, measures, monitors, and controls risk commensurate with the complexity of the servicer. The risk management program shall have appropriate processes and models in place to measure, monitor, and mitigate financial risks and changes to the risk profile of the servicer and assets being serviced. Such risks shall include, but are not limited to Credit Risk, Liquidity Risk, Operational Risk, Market Risk, Compliance Risk, Legal Risk, and Reputation Risk. Note: A risk management assessment shall be conducted annually and shall include a written report to the board of directors. It shall include evidence of risk management activities, any adverse findings relating to the institution’s risk management program, and proposed corrective actions needed to remedy any findings noted.

    Submitted via: NMLS

  12. Step 12

    Schedule of Costs and Fees: Please upload the current schedule of the ranges of costs and fees the company charges mortgagors for its servicing-related activities. Please be aware you are required to submit an updated Schedule of Costs and Fees anytime it changes.

    Submitted via: Upload in NMLS: Under the Document Type Additional Requirement(s) in the Document Uploads section of the Company Form (MU1).

General information

GENERAL INFORMATION Who Is Required to Have This Registration? Any person currently licensed in this state as a Mortgage Lender, who, for such person or on behalf of the holder of a residential mortgage loan, receives payments of principal and interest in connection with a residential mortgage loan, records such payments on such person’s books and records, and performs other administrative functions as may be necessary to carry out the mortgage holder’s obligations under the mortgage agreement including, when applicable, the receipt of funds from the mortgagor to be held in escrow for payment of real estate taxes and insurance premiums and the distribution of such funds to the taxing authority and insurance company, and includes a person who makes payments to borrowers pursuant to the terms of a home equity conversion mortgage or reverse mortgage. Note: Owners of mortgage servicing rights and owners of mortgage loans for which mortgage servicing rights have been retained, who hire licensed mortgage servicers to perform the mortgage servicing necessitated by ownership, must obtain this registration unless exempt or excluded from licensure. Activities Authorized Under This License • First mortgage servicing - MSR • First mortgage servicing – Whole Loan • Interim Servicing • Master servicing - MSR • Master servicing – Whole Loan • Mortgage loan modifications • Mortgage loan purchasing • Reverse mortgage servicing • Subordinate lien servicing - MSR • Subordinate lien servicing – Whole Loan • Third-party first mortgage servicing • Third-party subordinate lien mortgage servicing Pre-Requisites for License Applications • Other License: Must hold an active CT Mortgage Lender License. • Bond Amount: $100,000 per office location. • Fidelity Bond: Minimum of $300,000 in coverage required (see chart below). Refer to section 36a-719c for details. • Errors and Omissions Coverage: Minimum of $300,000 in coverage required (see chart below). Refer to section 36a-719c for details. NOTE - Fees collected through NMLS are NOT REFUNDABLE OR TRANSFERABLE.

Other Connecticut mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated December 5, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.

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