Rhode Island § 19-14.10-5 § 19-14.10-5. State license and registration application and issuance.

Rhode Island Statutes

§ 19-14.10-5 — § 19-14.10-5. State license and registration application and issuance.

Rhode Island § 19-14.10-5

Title 19Financial institutions

Ch. 19-14.10An Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2009

This text of Rhode Island § 19-14.10-5 (§ 19-14.10-5. State license and registration application and issuance.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 19-14.10-5 (2026).

Text

§ 19-14.10-5. State license and registration application and issuance.
(a) Applicants for a license shall apply in a form as prescribed by the director, or the
            director's designee. Each such form shall contain content as set forth by rule, regulation,
            instruction, or procedure of the director, or the director's designee, and may be
            changed or updated as necessary by the director, or the director's designee, in order
            to carry out the purposes of this chapter.
         
(b) In order to fulfill the purposes of this chapter, the director, or the director's
            designee, is authorized to establish relationships or contracts w

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§ 19-14.10-5. State license and registration application and issuance.

(a) Applicants for a license shall apply in a form as prescribed by the director, or the director's designee. Each such form shall contain content as set forth by rule, regulation, instruction, or procedure of the director, or the director's designee, and may be changed or updated as necessary by the director, or the director's designee, in order to carry out the purposes of this chapter.

(b) In order to fulfill the purposes of this chapter, the director, or the director's designee, is authorized to establish relationships or contracts with the Nationwide Mortgage Licensing System and Registry or other entities designated by the Nationwide Mortgage Licensing System and Registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this chapter.

(c) In connection with an application for licensing as a mortgage loan originator, the applicant shall, at a minimum, furnish to the Nationwide Mortgage Licensing System and Registry information concerning the applicant's identity, including:

(1) Fingerprints for submission to the Federal Bureau of Investigation, and any governmental agency or entity authorized to receive such information for a state, national, and international criminal history background check; and

(2) Personal history and experience in a form prescribed by the Nationwide Mortgage Licensing System and Registry, including the submission of authorization for the Nationwide Mortgage Licensing System and Registry and the director to obtain:

(i) An independent credit report obtained from a consumer reporting agency described in § 603(p) of the Fair Credit Reporting Act, 15 U.S.C. § 1681a(p); and

(ii) Information related to any administrative, civil, or criminal findings by any governmental jurisdiction.

(d) For the purposes of this section and in order to reduce the points of contact which the Federal Bureau of Investigation may have to maintain for purposes of this section the director, or the director's designee, may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting information from and distributing information to the U.S. Department of Justice or any governmental agency.

(e) For the purposes of this section, and in order to reduce the points of contact that the director, or the director's designee, may have to maintain for purposes of this section, the director, or the director's designee, may use the Nationwide Mortgage Licensing System and Registry as a channeling agent for requesting and distributing information to and from any source so directed by the director, or the director's designee.