Rhode Island passed a bill amending the General Laws Licensed Activities Act (GLLAA) and the Secure and Fair Enforcement Mortgage Licensing Act (SFEMLA). The bill amended the GLLAA with respect to “Lender” and “Remote Location” definitions, resident agent requirements, mortgage call report requirements, and mortgage loan originator initial fee requirements. The bill amended the SFEMLA with respect to mortgage loan originator license examination requirements, pre-licensing education requirements, and initial fee requirements. The bill went into effect June 29, 2022.
Click to view the Rhode Island House Bill 7781: https://www.tenaco.com/wp-content/uploads/2022/07/RI-HB-7781.pdf
