Reglith

Mortgage licensing / Connecticut

Connecticut Mortgage Servicer License

company licence · NMLS CTSERVICER_C · DOB

This license is required for any person, who directly or indirectly, services mortgage loans by receiving payments, including, but not limited to, payments for principal, interest or fees, recording payments and performing other administrative functions as may be necessary including, 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. This includes any person who owns servicing rights but contracts out the servicing functions and any person who makes payments to borrowers pursuant to the terms of a equity conversion mortgage or reverse mortgage.

Requirements (18)

  1. Step 1

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

    Submitted via: NMLS

  2. Step 2

    Other Trade Name: If operating under a name that is different from the applicant’s legal name that name must be listed in the Other Trade Names section of the Company Form (MU1). The Connecticut Department of Banking does not limit the number of Other Trade Names. Note: It is the applicant’s responsibility to ensure that all names are properly registered with the required municipality or government agency.

    Submitted via: NMLS

  3. Step 3

    Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1).

    Submitted via: NMLS

  4. Step 4

    Non-Primary Contact Employees: An individual should be identified for the following areas in the Contact Employees section of the Company Form (MU1): • Accounting • Exam Billing • Licensing • Consumer Complaint (Public) • Exam Delivery • Litigation • Consumer Complaint (Regulator) • Legal • Pre-Exam Contact

    Submitted via: NMLS

  5. Step 5

    Qualifying Individual: A Qualifying Individual is required to: • Have at least three years of experience in the mortgage servicing business within the five years immediately preceding the application • Be capable of providing full-time supervision of the main office A work experience form or resume must be uploaded to NMLS recognizing the dates of employment (month/year), employer, job title, and work functions for each position held by the individual for a period of at least five years immediately preceding the date of application. Click to download experience form. This document should be named Work experience form – [QI Name]. Note: The Qualifying Individual is required to meet minimum criminal and credit background check requirements. The individual will be required to authorized a criminal background check and credit report through NMLS.

    Submitted via: Upload in NMLS: under the Document Type Verification of Experience in the Document Uploads section of the Individual Form (MU2).

  6. Step 6

    Note: Control Person means, “an individual that directly or indirectly exercises control over another person. Any person that (A) is a director, general partner or executive officer; (B) in the case of a corporation, directly or indirectly has the right to vote ten per cent or more of a class of any voting security or has the power to sell or direct the sale of ten per cent or more of any class of voting securities; (C) in the case of a limited liability company, is a managing member; or (D) in the case of a partnership, has the right to receive upon dissolution, or has contributed, ten per cent or more of the capital, is presumed to be a control person. For purposes of this subdivision, "control" means the power, directly or indirectly, to direct the management or policies of a company, whether through ownership of securities, by contract or otherwise.”

  7. Step 7

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

    Submitted via: NMLS

  8. Step 8

    MU2 Individual FBI Criminal Background Check Requirements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Note: If you are able to ‘Use Existing Prints’ to process the FBI criminal background check, you DO NOT have to schedule an appointment. NMLS will automatically submit the fingerprints on file.

    Submitted via: NMLS

  9. Step 9

    Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the applicable documentation detailed below. Original formation documents and all subsequent amendments including a list of any name changes. General Partnership: • Partnership Agreement (including all amendments) Limited Liability Company: • Articles of Organization (including all amendments) Corporation: • Articles of Incorporation (including all amendments) This document should be named Formation Documentation [Date of Creation].

    Submitted via: Upload in NMLS: under the Document Type Formation Document in the Document Uploads section of the Company Form (MU1).

  10. Step 10

    Electronic Surety Bond: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

    Submitted via: Electronic Surety Bond in NMLS

  11. Step 11

    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. Note: This policy must name the Commissioner of the CT Department of Banking as an additional loss payee.

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

  12. Step 12

    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. Note: This policy must name the Commissioner of the CT Department of Banking as an additional loss payee.

    Submitted via: Upload in NMLS: under Document Type Fidelity Bond in the Document Uploads section of the Company Form (MU1).

  13. Step 13

  14. Step 14

    Note: "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.

    Submitted via: NMLS

  15. Step 15

    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

  16. Step 16

    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

  17. Step 17

    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

  18. Step 18

    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 License? Any person, who, for such person or on behalf of the holder of a residential mortgage loan, receives payments, including, but not limited to, payments for principal, interest or fees 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 a mortgage servicer license unless exempt or excluded from licensure. Who Does Not Need This License? 1. Any bank, out-of-state bank, Connecticut credit union, federal credit union or out-of-state credit union, provided such bank or credit union is federally insured; 2. Any wholly-owned subsidiary of such bank or credit union; 3. Any operating subsidiary where each owner of such operating subsidiary is wholly owned by the same such bank or credit union; 4. Any person licensed as a mortgage lender in this state while acting as a mortgage servicer from a location licensed as a main office or branch office under sections 36a-485 to 36a-498f, inclusive, 36a-534a and 36a-534b, provided (A) such person meets the supplemental mortgage servicer surety bond, fidelity bond and errors and omissions coverage requirements under section 36a-719c; and 5. Any person licensed as a mortgage correspondent lender in this state while acting as a mortgage servicer with respect to any residential mortgage loan it has made during the permitted 90 day holding period for such loan from a location licensed under sections 36a-485 to 36a-498e, inclusive, 36a-534a and 36a-534b. Activities Authorized Under This License • First mortgage servicing • Third party first mortgage servicing • Master servicing • Subordinate lien mortgage servicing • Third party subordinate lien mortgage servicing • Mortgage loan purchasing • Mortgage loan modifications • Reverse mortgage servicing • Interim Servicing Pre-Requisites for License Applications • 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. • Experience: A Qualifying Individual with at least three years of experience in the mortgage servicing business within the five years immediately preceding the date of application. Note: Any activity subject to licensure shall be conducted from an office located in a state, as defined in section 36a-2. “State” means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the trust territory of the Pacific Islands, the Virgin Islands and the Northern Mariana Islands.

Other Connecticut mortgage licenses

Sourced from the NMLS/CSBS state licensing record, last updated October 8, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.

Stop missing the rule that costs you a loan.