Mandatory Rhode Island state-specific component for DBR mortgage licensee applicants.
+ $4.50 NMLS Credit Banking Fee
NMLS Course ID: 13914
NMLS Sponsor ID: 1400327
Credit Hours Provided: 3
Category: PE Elective
This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in Rhode Island under the Department of Business Regulations (DBR). This 3-hour course covers state-specific rules and regulations, and is required as part of the 20 hours of prelicensure education needed to become a Rhode Island licensed mortgage loan originator.
This course consists of four modules and a final exam:
The DBR and RI Legal Definitions (30 minutes)
Licensing Requirements (35 minutes)
The Rhode Island Fair Housing Practices Act (35 minutes)
The Rhode Island Home Loan Protection Act (30 minutes)
Final Exam (20 minutes)
Total study time: 3 credit hours (150 minutes)
This module will introduce you to the Rhode Island Department of Business Regulation (the DBR), and provide definitions for terms used throughout this section. It will also cover the licensing requirements needed for different entities operating in the State of Rhode Island.
With certain exceptions, a license is required in order to act in the capacity of a residential mortgage lender, broker, or loan originator originating residential mortgage loans securing one-to-four-unit residential dwellings located throughout the State of Rhode Island. This module will explain the licensing requirements for entities and individuals.
Access to housing is a right afforded to all individuals. When people are denied housing based on prohibited characteristics such as age, gender, race, national origin, familial status, and other similar factors, everyone suffers. The federal Fair Housing Act (FHA) prohibits discrimination, in any capacity, pertaining to housing on the federal level.
On the state level, the Rhode Island Fair Housing Practices Act (RIFHPA) was signed into law in April 2021. One of two key components of this Act amends the existing Rhode Island fair housing laws to protect individuals from discrimination based on the type of lawful income that they receive. The other component prohibits landlords from refusing to rent to individuals because they receive government housing vouchers.
This module covers the Rhode Island Home Loan Protection Act, Rhode Island General Laws, Title 34 Property, Chapter 34-25.2.
You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.
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This course will remain available to students for 365 days after enrollment.
+ $4.50 NMLS Credit Banking Fee
|Category:||Vocational Training > Mortgage > License Training > Rhode Island > PE Elective|
|Purpose:||Mandatory Rhode Island state-specific component for DBR mortgage licensee applicants|
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