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National Mortgage License Guidelines

Puerto Rico Mortgage License Requirements

Learn about the Puerto Rico mortgage education needs and additional requirements for mortgage licensing.

In Puerto Rico, mortgage loan originators are required to:

 

  1. Complete a Criminal Background Check (CBC).
  2. Authorize a credit report through the NMLS that demonstrates financial responsibility.
  3. Fulfill all state and federal education requirements as designated by Puerto Rico.
  4. Take and pass a National Test.
  5. Sponsored by a Puerto Rico-licensed company.

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

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 Mortgage Licensing:

NMLS Resources:

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