Let’s explore the MLO license education requirements in Rhode Island. To obtain an MLO license, individuals in Rhode Island must complete 20 hours of NMLS-approved pre-licensing education. This education covers federal law, ethics, non-traditional mortgage lending, elective education, and Rhode Island-specific topics.
As mentioned, Rhode Island MLO applicants must complete 20 hours of NMLS-approved education. This education includes 3 hours of Federal law, 3 hours of ethics (covering fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, 9 hours of elective education, and 3 hours of Rhode Island state-specific defined electives.
In addition to completing pre-licensing education, you will also need to pass the National MLO Exam and undergo a criminal background check before licensing. Utilize the Rhode Island MLO Application Checklist provided by the NMLS to assist you in the application process. You can view the full checklist using the link below.
Aspiring MLO’s in Rhode Island are required to complete 20 hours of NMLS approved SAFE education prior to licensure. My Mortgage Trainer offers a range of format options for the 20-hour course to cater to your study needs and accommodate your schedule. Begin your journey towards MLO licensure in Rhode Island with My Mortgage Trainer today. View our course and test preparation options here.
Rhode Island MLO applicants must also complete 3 hours of Rhode Island Division of Banking Regulation (RI-DBR) defined electives, covering required topics such as MLO licensing requirements, the Rhode Island Fair Housing Practices Act, and the Rhode Island Home Loan Protection Act. Explore our online self-study option below.
In addition to meeting Rhode Island’s pre-licensing education requirements, you must also pass the NMLS National MLO Exam and acquire your NMLS ID Number. We have developed informational videos to guide you through obtaining your NMLS ID, scheduling the exam, and excel with valuable tips. Subscribe to our YouTube Channel for more great tips and industry-related news!