On June 24, 2025, a new Rhode Island law 936 (Public Law 186) took effect that prohibits anyone who is licensed as a mortgage loan originator and a real estate broker or salesperson, from handling and being compensated to handle both roles in the same transaction. The purpose of this law, which took place upon passage, is to protect consumers from conflicts of interest. The law does not prevent individuals from holding both types of licenses as long as they’re not used in the same transaction.  Check with your principal broker and the head of the mortgage brokerage with which you are affiliated to see whether any additional office policies apply.

For more information, contact the RIAR Legal Department at [email protected] or the Department of Business Regulation.