Mortgage loan originators in Rhode Island no longer need to worry about a net worth requirement thanks to a new law that was enacted in August. The new law is named SB 307 and terminates the minimum net worth requirement that was required of mortgage loan originators; now only the surety bond is required.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.