Mortgage brokers who practice within the state of Connecticut are regulated by the Consumer Credit Division of the Department of Banking. Any complaints of issues relating to a mortgage broker or brokerage firm are also handled by the Department of Banking. Consumers searching for a mortgage within the state of Connecticut are protected by the Abusive Home Loan Lending Practices Act. This act prevents predatory lenders from preying upon unsuspecting consumers. All Connecticut mortgage brokers must pass a state licensing examination. Therefore, double-checking a mortgage broker’s license is a quick and easy way to verify that the professional you are working with is legitimate. You can do so online at the Connecticut Department of Banking website.
Some consumers may be able to benefit from unique state mortgage programs. Veterans, senior citizens, low-income buyers, and rural home buyers may qualify for state programs. In addition, various programs such as the Teacher Mortgage Assistance Program, the Police Homeownership Program, and the Urban Rehabilitation Program may apply to certain consumers. It is unlawful for a lender or broker to coerce a consumer into a loan that they cannot afford. Any such coercion should be reported to the Department of Banking. To find a Connecticut mortgage broker, simply look through our site. All of the Connecticut mortgage brokers listed on this website are licensed and reputable. |
