Puerto Rico Origination Reference Guide

Citation	Topic	Requirement
Concessionaires of Mortgage Loans / 7 P.R. Laws Ann. §1057a	Blank Loan Application	A concessionaire may not induce or allow the client to sign blank loan applications or to have same available in a place other than the authorized place of business to be filled out later by the broker or mortgage institution.
Concessionaires of Mortgage Loans / 7 P.R. Laws Ann. §1057a	Double Commission	A concessionaire may not collect double commission, 1 from the vendor and another from the vendee of a property with funds acquired through mortgage loans, when not so agreed upon between the parties.
Concessionaires of Mortgage Loans / 7 P.R. Laws Ann. §1057a	Exact Breakdown of Costs	A concessionaire must furnish the clients a substantially exact breakdown of the costs of the mortgage loan or loans before granting the mortgage loan.
Concessionaires of Mortgage Loans / 7 P.R. Laws Ann. §1057a	Excessive Escrow	A concessionaire may not make excessive collections to be withheld in escrow accounts for the lender to have more protection in the mortgage loan.