Volume-Based Bond Amounts
Broker bonds range $50K–$150K. Lender and correspondent lender bonds range $100K–$500K. Servicer bonds are $100K per location. All determined by the Commissioner based on loan volume.
CT Dept. of BankingCGS § 36a-492Same-Day Issuance
Connecticut Mortgage Broker Surety Bond
Secure your Connecticut mortgage broker, lender, or servicer license with a surety bond from Surety One, Inc. — the nationwide leader in mortgage industry surety bonds. Broker bonds from $50,000, lender bonds from $100,000. Premiums individually determined by credit and financial review.
CT Mortgage Broker / Lender Bond
$50K – $500K
By license type & volume • Servicer $100K/location • Premium based on credit
Broker Bond$50,000 – $150,000
Lender/Corr. Lender$100,000 – $500,000
Servicer Bond$100,000/location
PremiumBased on Credit
ObligeeCT Dept. of Banking
TurnaroundSame Day
Get Your Free Quote
Understanding Your Bond
What Is a Connecticut Mortgage Broker Surety Bond?
A Connecticut mortgage broker surety bond is a three-party agreement required by the Connecticut Department of Banking, Consumer Credit Division, as a condition of licensure under Connecticut General Statutes § 36a-492 (Chapter 668, Nondepository Financial Institutions). The bond guarantees that the licensee will comply with all applicable state laws governing residential mortgage activities.
Connecticut requires a single surety bond covering the licensee's main office, any branch offices, and all sponsored mortgage loan originators. Bond amounts are determined by the Commissioner based on loan volume, with different ranges by license type: $50,000–$150,000 for brokers and $100,000–$500,000 for lenders and correspondent lenders.
Connecticut is notable for its automatic license suspension consequence if a bond is canceled without replacement — one of the strictest enforcement provisions in the nation. The bond also uniquely covers recovery of judgments arising from nonprime home loans under CGS § 36a-760.
The Three Parties
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PrincipalThe mortgage broker, lender, correspondent lender, or servicer who purchases the bond and must comply with CGS Chapter 668.
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ObligeeThe Connecticut Commissioner of Banking — the regulator requiring the bond and overseeing mortgage licensure.
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SuretySurety One, Inc. — the company that underwrites and issues the bond, guaranteeing the principal's compliance with Connecticut licensing law.
Important: Dual Filing Required
Connecticut requires bonds to be submitted both electronically through the NMLS and as original signed documents mailed to the Department of Banking, Consumer Credit Division, 260 Constitution Plaza, Hartford, CT 06103-1800. Surety One handles both filing methods.
Bond Amount Requirements
Connecticut Mortgage Bond Amounts by License Type
Bond amounts are determined per CGS § 36a-492(d) based on loan volume, with statutory minimums by license type. The single bond covers main office, branches, and all sponsored MLOs.
Mortgage Broker
| Criteria | Bond Amount |
|---|---|
| Statutory minimum | $50,000 |
| Maximum (based on volume) | $150,000 |
| Covers main office, branches, and all sponsored MLOs | Single bond |
Mortgage Lender & Correspondent Lender
| Criteria | Bond Amount |
|---|---|
| Statutory minimum | $100,000 |
| Maximum (based on volume) | $500,000 |
| Covers main office, branches, and all sponsored MLOs | Single bond |
Mortgage Servicer
| Criteria | Bond Amount |
|---|---|
| Per office location (main office) | $100,000 |
| Each additional branch office (bond rider addendum) | +$100,000 |
| Additional requirement for lender/servicers | Fidelity bond also required |
MLO Coverage Through Sponsoring Entity
Individual mortgage loan originators in Connecticut are covered by their sponsoring entity's single surety bond — no separate MLO bond is needed. The bond penal sum reflects the dollar amount of loans originated by all sponsored MLOs. Apply now or call (800) 373-2804.
Connecticut Licensing Requirements
Key Bond & Licensing Requirements
Connecticut maintains one of the broadest ranges of mortgage bond requirements in the Northeast, spanning $50,000 to $500,000 depending on license type and volume.
Department of Banking
The obligee is the CT Commissioner of Banking, Consumer Credit Division, 260 Constitution Plaza, Hartford, CT 06103-1800. Phone: (860) 240-8200.
CGS Chapter 668
Bonding requirements are governed by CGS § 36a-492 (bond requirements) and § 36a-488 (licensing requirements), under Chapter 668 — Nondepository Financial Institutions.
Tiered Net Worth
Brokers and correspondent lenders: $50,000 tangible net worth. Lenders: $250,000. Balance sheet sworn under oath, dated within 12 months of application. Qualifying individual must reside within 100 miles of main office.
NMLS + Physical Filing
Bonds must be submitted electronically through the NMLS and mailed as original signed documents to the Department. Background checks, credit reports, and work experience forms are required.
Automatic Suspension
Bond cancellation triggers automatic license suspension and inactivation of all sponsored MLO licenses — unless a replacement bond is filed before the cancellation date. Continuous bond until canceled with 30 days' notice.
Consumer Protection
What Does This Bond Protect Against?
The Connecticut mortgage broker surety bond provides uniquely broad protection under CGS § 36a-492. The bond covers:
Failure to Perform Agreements
Damages caused by the licensee's failure to perform written agreements or commitments made with borrowers or prospective borrowers.
Wrongful Conversion of Funds
Wrongful conversion of funds paid by a borrower or prospective borrower to the licensee — a specific statutory protection unique to Connecticut.
Nonprime Home Loan Judgments
Recovery of unsatisfied judgments against the licensee arising from the making or brokering of nonprime home loans as defined in CGS § 36a-760.
Commissioner Enforcement
The Commissioner may proceed on the bond to collect civil penalties imposed under CGS § 36a-50 and any unpaid examination costs — providing regulatory enforcement teeth.
How It Works
Get Your Connecticut Mortgage Broker Bond in 4 Steps
Surety One makes obtaining your Connecticut mortgage broker surety bond fast and straightforward. Most bonds are issued the same business day.
Apply Online
Complete our mortgage broker bond application online or call us at (800) 373-2804. There's no cost and no obligation.
Get Your Quote
Our underwriters review your application and provide a competitive premium quote, typically within hours. We work with all credit profiles.
Purchase & Sign
Accept your quote, complete the indemnity agreement, and pay your premium. We issue the bond on the appropriate CT Department of Banking form.
Dual Filing
Surety One files your bond electronically through the NMLS and ships the original signed bond to the CT Department of Banking at 260 Constitution Plaza, Hartford.
Understanding Your Premium
How Is My Premium Determined?
Your premium — the actual amount you pay — is a percentage of your required bond amount. You do not pay the full bond amount. Your rate is individually determined through underwriting review.
| Underwriting Factor | How It Affects Your Premium |
|---|---|
| Required Bond Amount | Your license type and loan volume determine the bond ($50K–$150K brokers, $100K–$500K lenders, $100K/location servicers). Higher amounts result in higher premiums. |
| Personal Credit Score | Your FICO score is a primary factor. Stronger credit profiles generally qualify for lower premium rates. |
| Financial Statements | Given CT's high bond range, personal and business financial statements are typically required for underwriting, especially for lender bonds exceeding $100,000. |
| Industry Experience | CT requires qualifying individuals with 3 years of experience. Your professional history may further influence underwriting terms. |
| Claims History | Any prior surety bond claims or regulatory actions may influence the terms offered. |
Every Applicant Receives a Personalized Quote
Because premiums are individually determined, the only way to know your exact cost is to apply. Surety One provides free, no-obligation quotes — and we decline no application. We offer non-standard programs for applicants with impaired or limited credit. Apply now or call (800) 373-2804 for your personalized quote.
Common Questions
Connecticut Mortgage Broker Bond FAQ
CT broker bonds range from $50,000 to $150,000. Lender and correspondent lender bonds range $100,000 to $500,000. Servicer bonds are $100,000 per location. Your premium is a percentage of the required amount, individually determined by credit, financials, and underwriting review. Apply for a free, no-obligation quote from Surety One.
The Connecticut Department of Banking, Consumer Credit Division, requires the bond under CGS § 36a-492 (Chapter 668). The bond must be written by a surety authorized to write bonds in Connecticut. Applications are submitted through the NMLS, and the original bond must also be mailed to the Department at 260 Constitution Plaza, Hartford, CT 06103-1800.
Connecticut has one of the strictest consequences in the nation: the Commissioner automatically suspends the licenses of any broker, lender, or correspondent lender when their bond is canceled, and inactivates all sponsored MLO licenses. Suspension is avoided only if a replacement bond or surety reinstatement letter is submitted before the cancellation takes effect. The surety must give 30 days' written notice before cancellation.
No. Individual mortgage loan originators are covered by their sponsoring entity's single surety bond. The bond's penal sum reflects the dollar amount of loans originated by all sponsored MLOs combined, as determined by the Commissioner per CGS § 36a-492(d). If an MLO changes sponsors, their coverage transfers to the new sponsoring entity's bond.
Mortgage brokers and correspondent lenders: $50,000 minimum tangible net worth. Mortgage lenders: $250,000. A balance sheet dated within 12 months of the application is required; if unaudited, it must be sworn under oath before a notary public by the proprietor, general partner, or authorized officer. The qualifying individual must have 3 years of mortgage experience and reside within 100 miles of the main office.
Yes. Surety One declines no application. Given CT's bond ranges up to $500,000 for lenders, our non-standard programs are especially valuable for applicants with impaired credit. Premium rates will be higher, but we work to find terms that fit each applicant's situation.
Yes. Connecticut uniquely allows borrowers or prospective borrowers who are damaged by a licensee's failure to satisfy a judgment arising from making or brokering a nonprime home loan (as defined in CGS § 36a-760) to proceed directly on the bond against the principal or surety, or both, to recover the judgment amount.
Yes. Mortgage lenders who also act as servicers in Connecticut must obtain both the mortgage lender surety bond ($100K–$500K) and an additional mortgage servicer surety bond ($100,000 per office location), plus a fidelity bond. Surety One issues all Connecticut mortgage industry bond types and can coordinate your complete bonding package.
The Surety One Advantage
Why Choose Surety One, Inc.?
Surety One is a national surety leader specializing in the bonding needs of mortgage professionals across all 50 states, Puerto Rico, and the U.S. Virgin Islands.
CT High-Range Specialists
Connecticut's bond requirements span $50K to $500K — among the broadest ranges nationally. Our underwriters specialize in high-amount mortgage bonds and know the CT Department of Banking's dual filing process inside and out.
Same-Day Issuance
Most Connecticut mortgage broker bonds are issued the same business day. Our 24/7/365 underwriting team provides guaranteed same-day feedback on every submission.
A+ BBB Rated
Surety One carries an A+ rating with the Better Business Bureau in both our U.S. and Puerto Rico offices, reflecting our commitment to client satisfaction and ethical practices.
All Credit Accepted
We decline no application. Given CT's potentially high bond amounts up to $500K, our non-standard programs are critical for applicants who may face challenges with other surety providers.
Multi-State Expertise
Operating in multiple states? We streamline your bonding across all 50 states with a single point of contact, ensuring compliance with each state's unique requirements and filing methods.
Free Quotes, No Obligation
Application review and quoting are always free. There is no obligation to purchase. Contact us by phone, email, or live chat to explore your options.
