2025 Regular Session • Rhode Island Legislature
H5811: Prohibits an individual who is licensed as both a Rhode Island real estate agent and mortgage loan originator to be compensated for both the sale of the property and the origination or referral of the loan in securing the property.
Legislative Summary
FINANCIAL INSTITUTIONS -- AN ACT ADOPTING THE FEDERAL SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT OF 2009 - Prohibits an individual who is licensed as both a Rhode Island real estate agent and mortgage loan originator to be compensated for both the sale of the property and the origination or referral of the loan in securing the property.
Demographic Impact
Overall analysis of equity impact
Neutral
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Bill History
2/28/2025
Introduced, referred to House Corporations
House of Representatives
3/7/2025
Scheduled for hearing and/or consideration (03/13/2025)
House of Representatives
3/13/2025
Committee recommended measure be held for further study
House of Representatives
3/21/2025
Scheduled for consideration (03/25/2025)
House of Representatives
3/25/2025
Committee recommends passage
House of Representatives
4/4/2025
Placed on House Calendar (04/10/2025)
House of Representatives
4/10/2025
House read and passed
House of Representatives
Roll Call Votes
Passage
4/10/2025
65
Yea
2
Nay
8
Not Voting
0
Absent
Result: PASSED
House Committee on Corporations: Passage
3/25/2025
14
Yea
0
Nay
0
Not Voting
1
Absent
Result: PASSED
Status Information
Current Status
Engrossed(4/10/2025)
Chamber
Senate
Sponsors
Democrat: 7
Primary Sponsor
Brandon Voas
Democrat