Conn. Gen. Stat. § 36a-498c
Adoption of mortgage loan policy with respect to subprime mortgage loans and nontraditional mortgage loans
Connecticut · General Statutes of Connecticut Chapter 668 — Nondepository Financial Institutions · Status: effective
Cite this
- Citation
- Conn. Gen. Stat. § 36a-498c, Adoption of mortgage loan policy with respect to subprime mortgage loans and nontraditional mortgage loans, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2201018
- Permanent ID
ys:prov:2201018@1- SHA-256
3149b2685ce6082cf6b4c1d8f16c3e669af834d59644bc7e632f9d6e9b767f37
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
At least once a year, each mortgage lender and mortgage correspondent lender, both as defined in section 36a-485 and licensed under section 36a-489, shall adopt a mortgage loan policy with respect to subprime mortgage loans and nontraditional mortgage loans made by such mortgage lender or such mortgage correspondent lender based on and consistent with the most current version of the Conference of State Bank Supervisors, American Association of Residential Mortgage Regulators and National Association of Consumer Credit Administrators Statement on Subprime Mortgage Lending, and the Conference of State Bank Supervisors and American Association of Residential Mortgage Regulators Guidance on Nontraditional Mortgage Product Risks. Such licensees shall comply with such policy and develop and implement internal controls that are reasonably designed to ensure such compliance. The mortgage loan policy and any residential mortgage loan, as defined in section 36a-485, made pursuant to the policy shall be subject to examination concerning prudent lending practices by the commissioner.