Applications / Mortgage Analytics / Lenders / Puerto Rico / RF Mortgage & Investment
San Juan, PR · Independent non-bank lender · CFPB · 294 loans in 2025
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294
loans originated, 2025
344
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
RF Mortgage & Investment, a San Juan non-bank lender that has reported since 1990, makes small, mostly FHA loans (insured by the Federal Housing Administration) for home purchases in Puerto Rico, and grew faster than most similar lenders in 2025.
FHA loans made up 51.7% of its lending in 2025, up from 38.7% a year earlier, against 17.3% at the typical similar lender, meaning independent non-bank lenders making between half and twice as many loans. Only 37.4% of its loans were conventional, against 76.2% at peers. Purchases were 93.5% of its loans.
Its typical loan was $155,000, less than half the $325,000 at similar lenders and smaller than at more than nine in ten of them. That is why its dollar volume, $57.7 million, sits low among peers even though its loan count is near the middle.
Its loans rose 13% in 2025, to 294, against 2% at similar lenders and 10% for the whole market. That followed three years of decline from 438 loans in 2021 to 261 in 2024.
It ranks 11 of 63 lenders in San Juan-Bayamón-Caguas, its biggest market, where Banco Popular de Puerto Rico leads. Its share there rose from 2.2% to 2.4%. Its other markets on the island are small, so a handful of loans moves its share in each of them.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. RF Mortgage & Investment took 344 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 93.5% · Refinance 6.5%
FHA 51.7% · Conventional 37.4% · USDA (RHS or FSA) 7.8% · VA 3.1% · of 294 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Puerto Rico | 291 | 99.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| San Juan-Bayamón-Caguas | 278 |
| Arecibo | 3 |
| Guayama | 3 |
| Ponce | 3 |
| Aguadilla | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300EEBMJ68MB8P551 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3873438 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 7660356747 | |
| Respondent ID (the HMDA filer code before 2018) | 76312509993 | 1990–2005 |
Established 24 March 1977. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: RF Mortgage & Investment's data.
RF Mortgage & Investment's data
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RF Mortgage & Investment and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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