Bona Fide Nonprofit Organizations
Approved in Connecticut
A Bona Fide Nonprofit Organization means an organization that has filed a written certified submission to the commissioner in any form prescribed by the commissioner and with such documentation as may be required by the commissioner and that demonstrates to the satisfaction of the commissioner that the organization: (a) Has the status of a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as from time to time amended; (B) promotes affordable housing or provides home ownership education or similar services; (C) conducts its activities in a manner that serves public or charitable purposes rather than commercial purposes; (D) receives funding and revenue and charges fees in a manner that does not incentivize it or its employees to act other than in the best interests of its clients; (E) compensates its employees in a manner that does not incentivize employees to act other than in the best interests of its clients; (F) provides or identifies for the borrower residential mortgage loans (i) with terms favorable to the borrower, which means such terms must be consistent with loan origination in a public or charitable context, not a commercial context, and (ii) comparable to mortgage loans and housing assistance provided under government housing assistance programs; and (G) meets such other standards as the commissioner may by regulation require.
Questions concerning bona fide nonprofit organizations may be directed via email to Richard Cortes at the Consumer Credit Division.
The following list includes licensed mortgage lenders by their company name, street address, town, state, zip code and approval date. Please click on the link below to download the file.
Downloadable Bona Fide Nonprofit Organization Licensee List as of June 1, 2023
**Windows users tip: once file is downloaded simultaneously select
the "control" and "F" keys to find a particular name.