Mortgage licensing / Puerto Rico

Puerto Rico Mortgage Loan Originator License

individual licence · NMLS PRORIGINATOR_I · OCIF

Requirements (11)

1. Step 1

   Company Sponsorship: A sponsorship request must be submitted by your employer. PR will review and accept or reject the sponsorship request. Puerto Rico will change the license status to “Approved-Inactive” for MLOs who have an approved license and are transitioning from one company to another. While in an “Approved-Inactive” status, you are NOT authorized to conduct business under the authority of the PR Mortgage Loan Originator License. The company you are transitioning into must be authorized to do business in Puerto Rico.

   Submitted via: NMLS

2. Step 2

   Employment History: The business address listed in the Employment section of the Individual Form (MU4) must match the address of the registered location in the Company Relationship.

   Submitted via: NMLS

3. Step 3

   Verification of Experience: Providea license specific resume with detailed job descriptions and/or duties performed evidencing experience in the industry the company is applying for a license. Detailed job descriptions and duties with all employers need to be incorporated into a resume to demonstrate experience related to the specific state license being applied for. This document should be named RESUME – License Name.

   Submitted via: Upload in NMLS: Upload document in NMLS in the Agency Guidance section under Document Type Verification of Experience.

4. Step 4

   Financial Responsibility: You must provide a detailed letter of explanation addressing all derogatory items listed on your credit report. Documentation evidencing satisfaction, pay-off, installment payment agreement or lien release must be provided for all judgments, tax liens and collections accounts. Bankruptcy documentation, including the schedule of discharged debts must be provided for all bankruptcy filings. Those applicants that are PR’s residents must provide documentation from Puerto Rico’s ASUME Office demonstrating compliance with child support.

   Submitted via: Email to: reglamentacion@ocif.pr.gov

5. Step 5

   Surety Bond: Provide an original MORTGAGE LOAN ORIGINATOR bond in the amount of $5,000 furnished by a surety company authorized to conduct business in PUERTO RICO. The name of the principal insured on the bond must match the Full Legal Name of the applicant. Mortgage Loan Originators who are employees of a Mortgage Entity, and are covered by the surety bond of the entity can be used as a replacement of the Bond required for the Mortgage Loan Originator. You must upload a letter from the entity certifying that you are covered by their bond. Click to download Surety Bond form

   Submitted via: Upload in NMLS: Upload document in NMLS in the Agency Guidance section under Document Type Additional Upload Requirement.

6. Step 6

   Garnishment Of Wages: Provide information relating to any garnishment of salary.

   Submitted via: Email to: reglamentacion@ocif.pr.gov

7. Step 7

   Criminal Background Check: Residents of Puerto Rico must upload a negative Certificate of Penal Record issued by the Police Department, dated not more than 30 days prior to application.

   Submitted via: NMLS

8. Step 8

   Credit Report Explanations: Submit a line by line, detailed letter of explanation of all derogatory credit accounts along with proof of payoffs, payment arrangements and evidence of payments made, or evidence of any formal dispute filed (documents must be dated). Accounts to address include, but are not limited to: collections items, charge offs, accounts currently past due, accounts with serious delinquencies in the last 3 years, repossessions, loan modifications, etc. Note: Items regarding bankruptcy, foreclosure actions, outstanding judgments or liens, or delinquent child support payments should be addressed in the Disclosure Explanations section of your Individual Form (MU4). This document should be named Credit Report Explanations – Sub Name – Document Creation Date.

   Submitted via: Upload in NMLS: Upload document in NMLS in the Agency Guidance section under Document Type Credit Report Explanations.

9. Step 9

   Legal Name/Status Documentation: Upload legal documentation of legal name or legal status. This may be certified copies of divorce decree, marriage certificate, copy of driver’s license, passports, etc. This document should be named [Document Name] (Ex. Drivers License, Marriage Certificate, etc.).

   Submitted via: Upload in NMLS: Upload document in NMLS in the Agency Guidance section under Document Type Legal Name/Status Documentation.

10. Step 10

    Memorandum of Tax Certification: Those applicants who are PR’s residents must provide a certified memorandum indicating all tax obligations to the State have been paid or that a payment plan (if applicable) is in place. Upload a Negative Tax Certification from the Department of Treasury. The certificate must be recent (6 months or less). If you have a payment plan, please submit evidence. Certification of Income Tax Returns filing with the Department of Treasury for the last five years. This document should be named PR – Memorandum of Tax Certification.

    Submitted via: Upload in NMLS: Upload document in NMLS in the Agency Guidance section under Document Type Memorandum of Tax Certification.

11. Step 11

    Asume Certification: Those applicants who are PR’s residents must provide a No Debt Certification from ASUME or current alimony obligations that are under a payment plan (if applicable).

    Submitted via: Upload in NMLS: Upload document in NMLS in the Agency Guidance section under Document Type Additional Upload Requirement.

General information

Other Puerto Rico mortgage licenses

• Mortgage Broker
• Mortgage Broker (Branch)
• Mortgage Lender/Service (Branch)
• Mortgage Lender/Servicer
• All 5 Puerto Rico licenses

Sourced from the NMLS/CSBS state licensing record, last updated August 20, 2026. Requirements change — confirm against the state agency before filing. Not legal advice.