P.R. Laws tit. 7, § 3055b
(a) Every initial application for a mortgage loan originator license shall enclose the annual license fees in the amount of one hundred dollars ($100), and the application processing fees established by the nationwide mortgage licensing system and registry to be paid to such entity.
(b) The license application shall include evidence that the surety bond requirement established in § 3055c of this title was met.
(c) Every applicant for a mortgage loan originator license shall provide the nationwide mortgage licensing system and registry with all the information regarding the his/her identity, including:
(1) Fingerprints for submission to the Federal Bureau of Investigation and to any other government agency or entity authorized to receive said information in order to investigate whether the applicant has a criminal history; and
(2) experience and personal history in a form to be furnished by the nationwide mortgage licensing system and registry, including the authorization granted to said entity and to the Commissioner to obtain:
(A) Independent credit reports from credit reporting agencies as described in Section 603(p) of the Fair Credit Reporting Act; and
(B) information regarding any administrative, civil, and criminal findings in any jurisdiction.
History —Dec. 30, 2010, No. 247, § 5.3, eff. 120 days after Dec. 30, 2010.