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 State Licensing Requirements

Company Licenses Description Requirements Checklist
Exempt Non-Profit Company Registration Exempt Non-Profit Company Registration (More Details)
Money Transmitter License This license is required of any natural or juridical person, including, but not limited to individuals, partnerships, corporations, trusts, to offer services or engage in activities in which any order of payment is received, including, but not limited to bank drafts, checks, personal money orders, or any other means of money transmission or payment, including those carried out by electronic transfer, wire, telephone, or any other medium to be transferred to a beneficiary, and which services require the person for whom the money transmission is processed, transacted, or conducted to pay a service charge.
Mortgage Broker This license is required of any individual, corporation, partnership, firm or an unincorporated entity be it for profit or nonprofit, that offers and contracts its services to negotiate, transact or obtain residential mortgage loans for third persons, for a service charge that may be direct, indirect, ostensible, concealed, or disguised. (More Details)
Mortgage Lender/Servicer This license is required of institutions or individuals whose principal business is to originate, finance, close, sell, and service residential realty mortgage loans, besides acting as intermediaries by offering their services to insurance companies, commercial banks, mutual banks, Savings and Loan Associations, Pension Funds and to other private investment individuals or entities that, partially or totally invest their assets in the granting of residential mortgage loans to finance or refinance the acquisition of real property located in the Commonwealth of Puerto Rico. (More Details)
Branch Licenses Description Requirements Checklist
Mortgage Broker (Branch) A license is required for every Mortgage Broker office established. (More Details)
Mortgage Lender/Service (Branch) A license is required for every Mortgage Lender/Servicer office established. (More Details)
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator License An individual who engages in the origination of loans through the receipt of a residential mortgage loan application, or who offers or negotiates the terms of a residential mortgage loan for compensation or gain, or with the expectation of receiving compensation or gain

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