Mortgage licensing / Rhode Island
Rhode Island Third Party Loan Servicer Branch License
branch licence · NMLS RISERVICER_B · DBR
This license is required for all offices, other than the main office identified on the Third Party Loan Servicer License, whether or not located in Rhode Island, which conducts business with Rhode Island residents on Rhode Island properties.
Requirements (7)
Step 1
Branch Manager: An Individual is required to be appointed for each location to be licensed by the Division. This individual is referred to as the Qualifying Individual for the main office and the Branch Manager for all other locations. This individual must be listed in the Branch Manager section of Branch (MU3) Form and his/her business address must match the address listed as the “Branch Office Address” on the Branch Form. • The Banch Manager is required to have at least five (5) years' experience in the industry; be a W-2 employee of the Applicant; be physically present at the licensed location the majority of operating hours; personally oversee the operations at the licensed location and live within a reasonable commuting distance.Submitted via: NMLS
Step 2
MU2 Credit Report: Branch Managers are required to authorize a credit report in NMLS. See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.Submitted via: NMLS
Step 3
Branch Manager Disclosure Questions: Provide a complete and detailed explanation for any “Yes” response along with any supporting documentation such as applicable Orders, Suspensions etc. A separate explanation and document upload is needed for each “Yes” response. • Upload a copy of any applicable orders or supporting documents in the Disclosure Explanations section of the Individual (MU2) Form.See the Individual Disclosure Explanations Quick Guide for instructions.Submitted via: NMLS
Step 4
Other Trade Names: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the "Other Trade Names" section of the Company Form (MU1) and Branch Form (MU3) of any licensed location listing Rhode Island as the jurisdiction. Rhode Island does not limit the number of other trade names a licensee may use. All licensed locations including branch offices must have all these alternative names listed on their NMLS filing with the Division.Submitted via: NMLS
Step 5
MU2 Individual FBI Criminal Background Check Requirements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. NOTE: When authorizing an FBI Criminal Background Check ("CBC") though NMLS, be sure that RI is a state that has been granted access to view the results of the CBC at the time the CBC is requested. If CBC results are generated before RI is granted access, the individual will be required to request and pay for another CBC. After authorizing a CBC through the submission of the Company Form (MU1) and Individual Form (MU2), you must schedule an appointment to be fingerprinted if new prints are required. If you are able to ‘Use Existing Prints’ to process the FBI criminal background check, you DO NOT have to schedule an appointment. NMLS will automatically submit the fingerprints on file.Submitted via: NMLS
Step 6
Operation Information / Branch Written Agreement: If you answered “Yes” to the first question listed in the "Operation Information" section of the Branch Form (MU3), UPLOAD a copy of the written agreement between the Branch Manager and Company/Licensee. Agreement should comply with applicable state and federal laws.Submitted via: Upload via Document Upload Section of MU3, under Additional Requirements section
Step 7
Business Activities: Companies filing a Branch Form must ensure the Business Activities listed on the Branch Form are also accurately reflected on the company’s filing.
General information
Who is required to have this license?
Any Rhode Island Third Party Loan Servicer License holder that will maintain additional places of business under the requested license.
Who does not need this license?
Any company that will only transact Rhode Island Third Party Loan Servicing activity from a single location.
What are the pre-requisites for license applications?
Applicant’s main office must already be registered with the Division or have an application pending with Rhode Island on NMLS. For those registrant’s currently licensed with the Division, they must be in good standing with the Division in order for the Division to be able to approve any expansion of the registrant’s business.
Other Information:
The Rhode Island Division of Banking does not issue paper licenses for this license type.
Division will review the filing and all required documents and communicate with you through NMLS. To review your status or see detailed communication from the regulator, click on the Composite View tab and then click on View License/Registration in NMLS see (License Status Quick Guide) for instruction.
If the Division determines that further information is needed in order to approve your application, then the Division will post a deficiency or requirement on NMLS instructing you to submit any and all supporting documentation to the Division either in NMLS or outside NMLS.
Other Rhode Island mortgage licenses
- Mortgage Loan Originator License
- Student Loan Servicer Registration
- Third Party Loan Servicer License
- All 4 Rhode Island licenses
Sourced from the NMLS/CSBS state licensing record, last updated April 23, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.