NMLS License Rhode Island: Get Your Rhode Island Mortgage Loan Originator License in 2026!

In an effort to curb the predatory lending practices that led to the demise of the housing and residential mortgage industry in 2008, the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE) was enacted. This opened up a world of opportunity to those driven to attain an MLO license and then work hard to match people with loan products.

Although it hasn't been enacted yet, be on the lookout for the PE expiration policy that's coming in Rhode Island. If you complete the required 20 hours of education but do not obtain your license for a 3-year period, you'll need to repeat the coursework. The same applies if you let your license lapse for 3+ years before you want to get back into the industry.

A “mortgage broker” refers to an individual or an organization that connects consumers with mortgage loans from a variety of companies. Mortgage brokers frequently employ loan officers. In contrast, a loan officer is an employee who regularly works with borrowers and provides loans that are originated by their employer. Brokers and loan officers need different types of licenses.

Earning your mortgage broker license in Rhode Island should be considered an investment well worth your time. Here’s what to expect when it comes to licensing fees in Rhode Island:

On an annual basis, Rhode Island MLO license holders must complete 8 total hours of Comprehensive Continuing Education that must cover:

Remember to take into account the “successive years” rule, which prohibits loan officers from taking the same CE course two years in a row. Mortgage Educators changes its continuing education course annually to ensure there are no issues with the successive years rule.

The deadline to complete CE in Rhode Island is December 31st. MLO's in Rhode Island are actually prevented from applying for license renewal until they have completed their CE.

Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Rhode Island mortgage license. For additional questions, feel free to email [email protected] or use our Wizmo online chat during business hours for assistance.