This Course Includes:
- OIL – 3 Hour Online RI SAFE PE – Rhode Island State Law (1806)
This course presents a summary of the key terms and provisions of the Rhode Island Statutes and Rules that specifically impact the mortgage loan originator and residential mortgage lending operations in the State of Rhode Island and is structured to reflect the outline of the Rhode Island State License Exam.
Online Instructor Led (“OIL”). This education is delivered in the Online Instructor Led format as required by the NMLS for online Pre-Licensure (“PE”) education. It is available on our website through any internet connection.
Important NMLS specifications include:
• Defined start and end dates (See Course Calendar at top of page).
• Interaction with the instructor and students through forum activities
• Progression as a cohort. At times you will wait for instructor feedback before continuing.
(Note: This is not an “Self-Study” course and does not allow for study at any pace or without instructor/classmate interaction)
The course is divided into five sections:
1.) Rhode Island department of business regulation division of banking
2.) State law and regulation definitions: reviews definitions from the Rhode Island’s loan originator statutes
3.) License law and regulation: reviews the Individual and Company requirements for licensing in accordance with Rhode Island State Law and the federal SAFE act.
4.) Compliance practices: focuses on prohibited conduct and practices including high cost home loans
5.) Disciplinary actions: covers penalties for violations and revocation of licenses
Upon successful completion of this course you will have a strong understanding of several of the laws and regulations specific to mortgage loan originators and lenders in the state of Rhode Island. You will also have a good background of information for taking the Rhode Island State Exam.