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Article Summary : This article will help anyone looking for information pertaining to a mortgage license in the state of Rhode Island or anyone looking to become a mortgage broker in Rhode Island. The Rhode Island Department of Business Regulation, Division of Banking provides regulatory oversight of all aspects of the Loan Brokers (Mortgage Brokers) in the State. Current regulations became effective on August 9, 1998. A Mortgage Broker (Loan Broker) is defined as anyone who solicits, processes, negotiates, places or sells a mortgage loan for others, or who offers to. Applicants who desire to become a Mortgage Broker in Rhode Island pay a non-refundable investigation fee of $275 and execute a Power of Attorney and pay a $25 Power of Attorney Filing Fee. A $10,000 Surety Bond is also required...