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