The Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico oversees the licensing of Mortgage Lenders/Servicers in Puerto Rico. A part of the licensing requirement is to obtain a $500,000 surety bond. The surety bond guarantees that the mortgage lender/servicer will honestly and faithfully perform their duties according to all rules and regulations of the Commonwealth of Puerto Rico.
The premium you pay for a Puerto Rico Mortgage Lender/Servicer surety bond depends on the bond amount and your credit. Premiums start as low as .75% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote that fits your specific situation.
Claims can be made on the bond up to five years following the date in which the bond ceased its effect.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
For a downloadable application