Rhode Island MLO License: Requirements, Cost & Steps

How to get your Rhode Island mortgage loan originator license: NMLS steps, 20-hour course, state fees, background check, and renewal deadlines.

Step-by-step overview of the Rhode Island mortgage loan originator (MLO) licensing process through NMLS, administered by the Rhode Island Division of Banking.

Who regulates MLOs in Rhode Island

The Rhode Island Division of Banking issues the Rhode Island Loan Originator License under the federal SAFE Act via NMLS. Federally insured depository MLOs register with NMLS as federal registrants and do not hold a state MLO license.

Application steps

  1. Create your NMLS individual account.
  2. Complete SAFE-approved pre-licensing education (20-hour national course plus any Rhode Island-specific hours).
  3. Pass the SAFE MLO Test with Uniform State Content.
  4. Order NMLS fingerprints and credit report.
  5. File the MU4 requesting the Rhode Island license and pay fees.
  6. Have a licensed Rhode Island company file sponsorship on your MU4.
  7. Respond to license-item requests from Rhode Island Division of Banking.
  8. Receive an Approved status and begin originating.

Annual renewal

State-licensed MLOs renew annually during the NMLS renewal period (November 1 – December 31), complete SAFE-approved continuing education, maintain active sponsorship, and meet any Rhode Island-specific renewal items.

Sources

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