2025 Regular Session • Rhode Island Legislature
S0936: 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
4/4/2025
Introduced, referred to Senate Commerce
Senate
4/18/2025
Scheduled for hearing and/or consideration
Senate
4/21/2025
Meeting postponed (04/22/2025)
Senate
Status Information
Current Status
Introduced(4/4/2025)
Chamber
Senate
Committee
Commerce(Senate)
