No mortgage broker shall collect a rate lock-in fee, except where required by a governmental agency to be collected directly by the mortgage broker, issue a mortgage rate lock-in or otherwise represent to a first mortgage loan applicant or the applicant's representative that the loan will be made at a specified rate if the loan is closed by the expiration of a specified period of time. Notwithstanding the provisions of this section, a mortgage broker may provide a mortgage lender's mortgage rate lock-in to a mortgage loan applicant or the applicant's representative on behalf of such mortgage lender and collect a rate lock-in fee on the mortgage lender's behalf payable to the mortgage lender.(P.A. 04-105, S. 3.)History: P.A. 04-105 effective May 21, 2004. No mortgage broker shall collect a rate lock-in fee, except where required by a governmental agency to be collected directly by the mortgage broker, issue a mortgage rate lock-in or otherwise represent to a first mortgage loan applicant or the applicant's representative that the loan will be made at a specified rate if the loan is closed by the expiration of a specified period of time. Notwithstanding the provisions of this section, a mortgage broker may provide a mortgage lender's mortgage rate lock-in to a mortgage loan applicant or the applicant's representative on behalf of such mortgage lender and collect a rate lock-in fee on the mortgage lender's behalf payable to the mortgage lender.(P.A. 04-105, S. 3.)History: P.A. 04-105 effective May 21, 2004.
Connecticut Legal Code
§ 36a-708
Connecticut Title 36a — Connecticut law
Source: https://www.cga.ct.gov/current/pub/chap_669.htm#sec_36a-708· Version 2026