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Financial Services Law Insights and Observations

Rhode Island extends its work from home provisions for lenders

State Issues Covid-19 Rhode Island Lending Mortgage Origination Broker-Dealer Licensing

State Issues

On December 22, 2020, the Rhode Island Department of Business Regulation extended interim guidance permitting mortgage loan originators, lenders, loan brokers, and exempt company registrants to work from home, even if the home is not a “licensed branch” or located outside of Rhode Island (previously covered here, here, and here.) To take advantage of this exemption, the individual must maintain certain specified data security provisions. This extension is set to expire March 31, 2021.