Mortgage Servicer Licensing
In response to the outbreak of the coronavirus, the Banking Commissioner issued a memo on March 10, 2020 advising the mortgage industry, and other financial services sectors licensed by the Department, that it would take a no action position with regard to employees working from home who otherwise would be required to work from a licensed branch location. Please read the memo for details:
No Action Position Regarding Temporarily Working from Home Due to COVID-19
Essential Statutes
Please reference the relevant Connecticut Statutes (§§ 36a-715 to 36a-719l, inclusive) before applying for a license.
Other Relevant Information:
Mortgage Servicer Licensing Opinion
The Commissioner has issued an opinion that 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.
How to Apply:
If you wish to apply for a mortgage servicer license you should begin by first reviewing Connecticut’s Jurisdiction-Specific Requirements along with Connecticut's mortgage servicer statutes, which provides the current licensing procedures and requirements applicable to mortgage servicers.
If your company already has a completed record in the Nationwide Multistate Licensing System and Registry, then applying for a license in Connecticut merely involves filing your company's record (Form MU1), control person records (Form MU2), and relevant branch records (Form MU3) with Connecticut through the NMLS and mailing in the jurisdiction-specific requirements to the Department.
Go to the Getting Started page of the NMLS website and follow the steps outlined:
Any questions relating to the NMLS should be directed to the NMLS Call Center at (855) 665-7123.
Contact
Connecticut Department of Banking
Consumer Credit Division
260 Constitution Plaza
Hartford, CT 06103-1800
Telephone: (860) 240-8200 or toll-free 800-831-7225
Fax: (860) 240-8215
WHO TO CONTACT - Contact Richard Cortes by phone at 860-240-8138 or send your questions
via e-mail to Richard.Cortes@ct.gov for additional assistance.