Rhode Island Mortgage Licensing

RI is one of the few states that separates its licenses by activities. If you wish to conduct brokering, lending and servicing activities you will need to obtain a separate license for each. Although each state has different bond and net worth requirements they all require a named QI that holds a RI MLO license, have 5 years of experience in the mortgage industry and be present at the cooperate office at least 51% of the time. For the Lender license only a special registered agent associated with the state of RI  is required to satisfy/sign the ‘Insurance Claim Check Endorsement’. This person cannot be an employee or owner of the Applicant.



StateLicense NameState FeeBond Premium Est.
SOS FeeMLG Processing FeeTotal
Rhode IslandLoan Broker License$925$150$310Call for More Information$1,385
Rhode IslandLender License$1,750$375$310Call for More Information$2,435
Rhode IslandThird Party Loan Servicer License$1,750$375$310Call for More Information$2,435

License: Loan Broker License

  • Operating Status: Broker
  • Bond Amount: $20,000
  • Net Worth: $10,000
  • Brick & Mortar: No
  • Financial Type:  Unaudited

License: Lender License

  • Operating Status: Lender
  • Bond Amount: $50,000
  • Net Worth: $100,000
  • Brick & Mortar: No
  • Financial Type:  Unaudited

License: Third Party Loan Servicer License

  • Operating Status: Servicer
  • Bond Amount: $50,000
  • Net Worth: $100,000
  • Brick & Mortar: No
  • Financial Type: Unaudited

Sample our License Ready program through our interactive United States Map!

Run our License Calculator to estimate licensing costs with all 50 states!

For more information or to speak to a representative for your state
call us today at 866-576-7726

**Fees & terms are subject to change without notice.**