P.R. Laws tit. 7, § 3055c
2019-02-20 00:00:00+00
(a) Every applicant for a residential mortgage loan originator license shall file a surety bond whose amount shall be calculated on the basis of the volume of mortgage loans originated and be determined by the Commissioner through rules or regulations.
(b) Mortgage loan originators may use the surety bond of the entity with which they contract in lieu of the surety bond required for a mortgage loan originator.
History —Dec. 30, 2010, No. 247, § 5.4, eff. 120 days after Dec. 30, 2010.