According to Rhode Island law, which term best describes a person that solicits or negotiates loans for compensation?

In Rhode Island, the term "Loan broker" specifically refers to an individual or entity that engages in soliciting or negotiating loans for compensation. This role involves acting as an intermediary between borrowers and lenders, assisting clients in finding suitable loan products and helping facilitate the loan process. Loan brokers often provide valuable services, including market analysis, comparison of different loan options, and guidance through loan applications.

In contrast, while a mortgage originator also plays a role in the loan process, the term typically refers to someone who primarily originates mortgages, often working for a lending institution rather than independently negotiating loans for clients. Real estate agents are primarily focused on buying and selling properties rather than negotiating loans. Financial advisors generally provide broader financial planning services and may not specifically engage in loan negotiations. Thus, "Loan broker" is the most accurate term that directly describes the activity of soliciting or negotiating loans for compensation in the context of Rhode Island law.