Rhode Island Mortgage Licensing

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

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing 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

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

License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$275 – Foreign Entity Fee
$125 – Registered Agent Fee
$200 – Surety Bond Fee
$925 – Company License Fee
$35 – Fingerprint Fee per Owner/Officer

Regulated by:

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 | rspecht@dbr.state.ri.us | 401-462-9564
Marie Sammartino | msammartino@dbr.state.ri.us | 401-462-9572
Scott Cayouette | scayouet@dbr.state.ri.us
Lucy Ponte | Lucy_Ponte@dbr.state.ri.us