(1) $275 non-refundable investigation fee

(2) $25 Power of Attorney filing fee (must execute a Power of Attorney)

(3) $10,000 Surety Bond

(4) Licensing fee after the application is approved

(5) Provide resume showing employements history relecting at least 5 yrs experience in Mortgage industry

(6) Provide a 3 yr business plan & financials

(7) Provide financial statements, dated within 60 days and GAAP. Must show minimum net worth of $10,000.

(8) Fingerprint cards for criminal background check per applicant

(9) No physical office require, BUT must have an attorney or Resident Agent whom mail can be delivered to

Loan Officer Requirements:

(1) 18 years of age

(2) Criminal background check

(3) Testing (as of 1/1/09)

(4) Education (as of 1/1/09) 

Contact Information:

Rhode Island Department of Business Regulation, Division of Banking

233 Richmond Street

Providence, RI 02903

Phone: 401.222.2246

Fax: 401.222.6098

Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Loan Officer Licensing Information: Contact Division of Banking licensing staff at 401-462-9503

Website:http://www.dbr.ri.gov/divisions/banking_securities/license.php

Map of Rhode Island Department of Business Regulation, Division of Banking: