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    Rhode Island State Licenses and Regulator Costs

    Need a license?(312) 588-6800 State Mortgage Licensing Experts
      Lender License (Company)
    • NMLS Cost: $1,750
    • Additional Costs: $15 per credit report, $36.25 per criminal background check
    • Qualifying Individual: each location; five (5) years of mortgage experience
    • Minimum Net Worth: $100,000
    • Surety Bond Requirement: $50,000, plus $10,000 for four or more branch locations or $25,000 for eight or more branch locations
      Loan Broker License (Company)
    • NMLS Cost: $925
    • Additional Costs: $15 per credit report, $36.25 per criminal background check
    • Qualifying Individual: each location; five (5) years of mortgage experience; main location QI must own 51% or more of company
    • Minimum Net Worth: $10,000
    • Surety Bond Requirement: $20,000, plus $10,000 for four or more branch locations or $25,000 for eight or more branch locations
      Third Party Loan Servicer License (Company)
    • NMLS Cost: $1,750
    • Additional Costs: $15 per credit report, $36.25 per criminal background check
    • Qualifying Individual: five (5) years of mortgage experience; must physically work at main location
    • Minimum Net Worth: $100,000
    • Surety Bond Requirement: $50,000, plus $10,000 for four or more branch locations or $25,000 for eight or more branch locations
      Lender Branch Certificate (Branch)
    • NMLS Cost: $1,670
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Qualifying Individual: minimum of five (5) years of mortgage experience
    • Surety bond: may be needed depending on number of branch locations (see above)
      Loan Broker Branch Certificate (Branch)
    • NMLS Cost: $845
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Qualifying Individual: minimum of five (5) years of mortgage experience
    • Surety bond: may be needed depending on number of branch locations (see above)
      Third Party Servicer Branch Certificate (Branch)
    • NMLS Cost: $1,670
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Qualifying Individual: minimum of five (5) years of mortgage experience
    • Surety bond: may be needed depending on number of branch locations (see above)
      Mortgage Loan Originator (Individual)
    • NMLS Cost: $180
    • Additional Costs: $15.00 per credit report, $36.25 per criminal background check
    • Education: Rhode Island requires three (3) hours of RI-approved pre-licensure education as part of your national education requirement