Puerto Rico
Puerto Rico offers two licenses for mortgage industry companies Mortgage Broker and a Mortgage Lender/Servicer License. Both of these licenses require all control officers to upload a current resume dated within 30 days of application submission. PR only allows one name per license so if your company intends to operate under a DBA you will need to obtain an OTN #1 license for each name.
| State | License Name | State Fee | Bond Premium | SOS Fee | MLG Processing | Total |
| Puerto Rico | Mortgage Broker | $1,620 | $750 | $716 | Call for More Information | $3,086 |
| Puerto Rico | Mortgage Lender/Servicer | $3,870 | $3,750 | $716 | Call for More Information | $8,336 |
License: Mortgage Broker
- Operating Status: Broker
- Bond Amount: $100,000 + $5,000 for each branch location
- Net Worth: $10,000 Liquid + $5,000 Liquid for each branch location
- Brick & Mortar: N/A
- Financial Type: Audited
License: Mortgage Lender/Servicer
- Operating Status: Broker/Lender/Servicer
- Bond Amount: $500,000 + $10,000 for each branch location
- Net Worth: $200,000 Liquid + $125,000 for each branch location
- Brick & Mortar: N/A
- Financial Type: Audited
Sample our License Ready program through our interactive United States Map!
Run our License Calculator to estimate licensing costs with all 50 states!
For more information or to speak to a representative for your state
call us today at 760-295-4040
**Fees & terms are subject to change without notice.**
Obtaining a Puerto Rico mortgage license requires understanding the territory’s specific licensing requirements for mortgage brokers and mortgage lenders/servicers. Puerto Rico requires separate licenses for brokers and lenders/servicers, so companies engaging in both activities must obtain both types of licenses.
A key requirement for all license types is the designation of a Qualified Individual (QI) or control officer. This person must oversee the company’s mortgage operations and ensure compliance with both Puerto Rico law and federal regulations. The QI is responsible for supervising loan originators, maintaining proper business practices, and ensuring ethical and legal standards are met.
Applications for a Puerto Rico mortgage license are submitted through the Nationwide Multistate Licensing System (NMLS) and the Office of the Commissioner of Financial Institutions in Puerto Rico. Companies must provide formation documents, list control persons, and submit fingerprint clearance, along with applicable fees.
Puerto Rico requires licensees to maintain a surety bond and meet net worth or liquid asset requirements, which vary based on the license type. Mortgage lender/servicer licenses generally have higher financial obligations than broker licenses.
Additional obligations include disclosing the company’s business location, registering trade names if operating under multiple names, and complying with local law governing mortgage activities. Applicants may also undergo background checks and credit reviews for key personnel.