CSMB
Member Code of Ethics

The members of the CSMB, as responsible providers to the public of mortgage financing services, and recognizing their commitment to provide such services with the utmost professionalism, integrity, competence and diligence, subscribe to the following Code of Ethics:

Adopted February 6, 1993 amended February 10, 1999.
CSMB Board of Directors

The Mortgage Broker SHALL act in accordance with all laws, rules and regulations of the State of Connecticut Banking Department and in accordance with the Bylaws of the Connecticut Society of Mortgage Brokers.

The Mortgage broker SHALL conduct business in a manner reflecting honor and integrity.

The Mortgage Broker shall avoid and report any fraudulent and unethical practices to the Society or State Agency charged with regulating the practices of the Brokers.

The Mortgage Broker SHALL abide by generally accepted principles of the real estate valuation when reporting to the investors regarding the valuation of the offered collateral for the loan.

The Mortgage Broker SHALL advise the relevant parties of any equity interest he/she may have in the collateral offered as security for the loan.

The Mortgage Broker SHALL advise the consumer who they are doing business with as to who the Broker will be receiving compensation from.

The Mortgage Broker is representing themselves and they will Clearly notify the customer who will be paying the Broker for the services rendered.

The Mortgage Broker SHALL NOT advertise, or intimate to the consumer terms or conditions not available and not likely to be made available.

The Mortgage Broker WILL put all agreements into written form and shall abide by all agreements made to the consumer whether written or oral.

The Mortgage Broker SHALL maintain special accounts separate from his/her personal accounts for the deposit of escrow funds they receive from the consumer.

The Mortgage Broker SHALL NOT speak disparagingly of the business practices of a competitor or of a transaction being negotiated by a competitor.

Disputes between members SHALL be resolved by decisions by the CSMB Ethics Committee.

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Violators will be prosecuted.  

CSMB -Connecticut Society of Mortgage Brokers
26 Broad Street - Milford, CT 06460
Phone: (203) 874-3090 ~ Fax (203) 783-4828
Toll Free: 1-888-CTBROKR
Email: pspalthoff@csmbct.com

Proud to be the Connecticut Affiliate of the National Association of Mortgage Brokers