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Mortgage licensing / Connecticut

Connecticut Student Loan Servicer License

company licence · NMLS CTSTUDENTLNSERVICER_C · DOB

This license is required of any person, wherever located, responsible for the servicing of any student education loan to any student loan borrower.

Requirements (10)

  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 (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). Connecticut does not limit the number of other trade names. It is the applicant’s responsibility to ensure that all names are properly registered with the required municipality or government agency, and that the name is reflected on the Surety Bond.

    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

    Qualifying Individual: Must recognize an individual who is responsible for the actions of the licensee. Complete the Individual Form (MU2) in NMLS. This individual must be listed in the Qualifying Individual section of the Company Form (MU1). Note: The Qualifying Individual is required to meet minimum criminal and credit background check requirements. The individual will be required to authorize a criminal background check and credit report through NMLS.

    Submitted via: NMLS

  5. Step 5

    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.”

  6. Step 6

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

    Submitted via: NMLS

  7. Step 7

    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

  8. Step 8

    Business Plan: Upload a business plan outlining the following information: • Marketing strategies • Products • Target markets • Fee schedule • Operating structure that the applicant intends to employ This document should be named [Company Legal Name] Business Plan. Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded.

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

  9. Step 9

    Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments thereto, including a list of any name changes. General Partnership: • Partnership Agreement (including all amendments) Limited Liability Company (“LLC”): • 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 Formation Document” in the Document Uploads section of the Company Form (MU1).

  10. Step 10

    Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). Must also identify compliance reporting and internal audit structure. If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart. This document should be named [Company Legal Name] Management Chart.

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

General information

GENERAL INFORMATION Who Is Required To Have This License? Any person or entity, wherever located, responsible for the servicing of any student education loan to any student loan borrower. “Servicing” means receiving any payments from a student loan borrower pursuant to the terms of a student education loan; applying the payments of principal and interest and such other payments with respect to the amounts received from a student loan borrower, as may be required pursuant to the terms of a student education loan; maintaining account records for and communicating with the student loan borrower concerning the student education loan during the period when no payments are required; interacting with a student loan borrower for purposes of facilitating the servicing of a student education loan, including, but not limited to, assisting a student loan borrower to prevent such borrower from defaulting on obligations arising from the student education loan; or performing other administrative services with respect to a student education loan. “Student loan borrower” means any individual who resides within this state who has agreed to repay a student education loan. “Student education loan” means any loan primarily for personal use to finance education or other school-related expenses. Who Is Not Required To Have This License? Any bank, out-of-state bank, Connecticut credit union, federal credit union or out-of-state credit union, any wholly owned subsidiary of any such bank or credit union; and any operating subsidiary where each owner of such operating subsidiary is wholly owned by the same bank or credit union. Activities Authorized Under This License: • Consumer loan servicing • Accounting/Billing servicing • Private student loan servicing 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.

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