Steps to Get a Rhode Island MLO License – Mortgage Loan Originator, Officer, Broker.
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Pre-licensure Education: Complete 20 hours of NMLS approved pre-licensure education courses which must include 3 hours of RI Gen. Laws – NMLS must indicate you are compliant with this requirement. We currently do not offer the state specific hours for this state. You can complete your 20-hour core course with us and will need to complete your state hours with another provider.
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Testing: Must satisfy one of the following three conditions:
1. Passing results on both the National and Rhode Island State components of the SAFE Test, or
2. Passing results on both the National and Stand-alone UST components of the SAFE Test, or
3. Passing results on the National Test Component with Uniform State Content.
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Criminal Background Checks: Authorization for a FBI criminal history background check must be completed in NMLS. See Quick Reference guides in the NMLS Resource Center.
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Rhode Island MLO Credit Report: Authorization for a credit report must be completed. Individuals will be required to complete an Identity Verification Process (IDV).
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Disclosure Questions: Upload complete details of all events or proceedings for each “Yes” response to the Disclosure Questions on Form MU4.
Company Sponsorship: Applicant must be sponsored by a RI licensed company. If Applicant is not sponsored by a licensed company, Applicant’s application may be placed into an Approved-Inactive Status on NMLS until such time as a sponsorship is requested. Finally, Applicant must continue to comply with all active licensee requirements including but not limited to continuing education requirements while in an Approved-Inactive status.
