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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BxyzFoqgGLrsm2yNlxoB+BK5gTEYOpedE9PbzfGkcBywZnF+4GOW8vWFs72uxIdC
 9Fm7AfgBcY35vSY6xUB9RA==

<SEC-DOCUMENT>0001140361-08-009350.txt : 20080410
<SEC-HEADER>0001140361-08-009350.hdr.sgml : 20080410
<ACCEPTANCE-DATETIME>20080410212630
ACCESSION NUMBER:		0001140361-08-009350
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080408
FILED AS OF DATE:		20080410
DATE AS OF CHANGE:		20080410

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DORAL FINANCIAL CORP
		CENTRAL INDEX KEY:			0000840889
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				660312162
		STATE OF INCORPORATION:			PR
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1451 FRANKLIN D ROOSEVELT AVENUE
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00920-2717
		BUSINESS PHONE:		787-474-6700

	MAIL ADDRESS:	
		STREET 1:		1451 FRANKLIN D ROOSEVELT AVE
		STREET 2:		AVENUE F D ROOSEVELT 1159
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00920-2717

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST FINANCIAL CARIBBEAN CORP
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			UZIEL ORI
		CENTRAL INDEX KEY:			0001194564

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31579
		FILM NUMBER:		08751149

	BUSINESS ADDRESS:	
		STREET 1:		C/O DIALOGUE CAPITAL MANAGEMENT LLC
		STREET 2:		599 LEXINGTON AVE 36TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2125834000

	MAIL ADDRESS:	
		STREET 1:		C/O PERRY CORP.
		STREET 2:		767 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-04-08</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000840889</issuerCik>
        <issuerName>DORAL FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>DRL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001194564</rptOwnerCik>
            <rptOwnerName>UZIEL ORI</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PERRY CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>767 FIFTH AVENUE</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10153</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Person resigned as a director, with effect from April 8, 2008.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Ori Uziel</signatureName>
        <signatureDate>2008-04-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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