Course Objectives

This course provides Rhode Island mortgage loan originators with a clear, practical understanding of the laws, regulations, and ethical standards that govern residential mortgage lending in Rhode Island. Participants will examine key Rhode Island statutes and regulations, explore real-world scenarios, and learn how to identify risk, avoid prohibited conduct, and apply best practices in their daily work — strengthening their ability to serve borrowers ethically and confidently while minimizing regulatory exposure.

By the end of this course, participants will be able to:

• Explain the Rhode Island Home Loan Protection Act, including the definition of high-cost home loans under state and federal law, applicable points and fees and rate thresholds, and prohibited loan terms and practices.
• Describe the tangible net benefit requirements for refinancing under Rhode Island law and apply them to origination decisions.
• Identify unlawful housing practices and explain Rhode Island's fair housing protections as they apply to mortgage transactions.
• Recognize deceptive and unfair practices prohibited under Rhode Island law and describe the licensing and disclosure obligations required of mortgage professionals.
• Explain Rhode Island's residential mortgage fraud statute, associated penalties, and requirements governing prepayment penalties, loan fees, and borrower choice of title attorneys and title insurance.