Puerto Rico Mortgage License Requirements
Application Requirements to become licensed in Puerto Rico:
| Description | Requirement |
|---|---|
| Temporary Authority to Operate Eligible | Yes |
| Application Fee | $0.00 |
| License Registration Fee | $100.00 |
| NMLS Processing Fee | $35.00 |
| Sponsorship Fee* | $0.00 |
| Credit Report Required | $15.00 |
| Criminal Background Check Required | $36.25 |
| Testing Required | Yes, passing score of 75% or higher |
| SAFE MLO Test Cost | $110.00 |
| Work Remote Allowed | No |
*Note: A sponsorship request must be submitted by your employer. PR will review and accept or reject the sponsorship request.
Puerto Rico NMLS Pre-Licensing Education Requirements:
New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:
3 hours of federal law
3 hours of ethics
2 hours of non-traditional mortgage lending training
12 hours of electives
Puerto Rico Continuing Education Requirements:
State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:
3 hours of federal law
2 hours of ethics
2 hours of non-traditional mortgage lending
1 hour of electives
The deadline to complete annual CE is December 1st.
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.
Puerto Rico Bureau of Financial Institutions Contact Info:
Phone: (787) 723-3131 ext. 2214 or 2197
Email: reglamentacion@ocif.pr.gov
Website: https://www.ocif.pr.gov/
