Rhode Island Mortgage Licensing
Mortgage Broker Licensing
License: Rhode Island Loan Broker License
Physical Office Required: No
Qualifying Individual Required: Yes, 5 years experience required
Minimum Net Worth: $10,000
Financial Statements: Unaudited
Surety Bond Amount: $20,000
Company License Fee: $925
Mortgage Lender Licensing
License: Rhode Island Lender License
Physical Office Required: No
Qualifying Individual Required: Yes, 5 years experience required
Minimum Net Worth: $100,000
Financial Statements: Unaudited
Surety Bond Amount: $50,000
Company License Fee: $1,750
Regulated by:
State of Rhode Island Department of Business Regulation
Division of Banking
1511 Pontiac Avenue, Building 68-1
Cranston, Rhode Island 02920
Phone: (401) 462-9503
E-mail: dbr.bankinquiry@dbr.ri.gov