Rhode Island Mortgage Licensing | Rhode Island Department of Business Regulation 

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Mortgage Banker | Lender License

• Physical In-State Office Required: No
  
• Qualifying Individual: Yes, 5 years of mortgage experience
  
• Minimum Net Worth:  $100,000
  
• Surety Bond: $50,000 + $5,000 for each branch
  
• Branch Licensing: Yes
  
• Loan Originator Licensing: Yes
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$275 – Foreign Entity Fee
$125 – Registered Agent Fee
$500 – Surety Bond Fee
$1,750 – Company License Fee
$35 – Fingerprint Fee per Owner/Officer

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Mortgage Broker | Loan Broker License

• Physical In-State Office Required: No
  
• Qualifying Individual: Yes, 5 years of mortgage experience
  
• Minimum Net Worth: $10,000
  
• Surety Bond: $20,000 + $5,000 for each branch
  
• Branch Licensing: Yes
  
• Loan Originator Licensing: Yes
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$275 – Foreign Entity Fee
$125 – Registered Agent Fee
$200 – Surety Bond Fee
$925 – Company License Fee
$35 – Fingerprint Fee per Owner/Officer 

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Regulated by:
Rhode Island Department of Business Regulation 
Division of Banking
1511 Pontiac Avenue, Building 69-2
Cranston, RI 02920
Telephone: (401) 462-9500 
Fax: (401) 222-6098
(401) 462-9503x2x0
Rebecca Specht - [email protected] - (401) 462-9564
Marie Sammartino - [email protected] - 401-462-9572
Scott Cayouette - [email protected]
Lucy Ponte - [email protected]
http://www.dbr.state.ri.us/