Every mortgage loan company (including mortgage brokers) transacting business in New Mexico. Required when: Application for a license or registration certificate as a Mortgage Loan Company. Exemptions: Banks, trust companies, savings and loan associations, credit unions, insurance companies, real estate investment tru…
Overview
What it is.
Every mortgage loan company (including mortgage brokers) transacting business in New Mexico. Required when: Application for a license or registration certificate as a Mortgage Loan Company. Exemptions: Banks, trust companies, savings and loan associations, credit unions, insurance companies, real estate investment tru…
Who usually needs it
Every mortgage loan company (including mortgage brokers) transacting business in New Mexico.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateNMBond amountThe initial bond amount is $50,000. Upon renewal, the amount is adjusted based …Term lengthContinuousObligeeNew Mexico Regulation and Licensing Department, Financial Institutions DivisionRenewalThe bond remains in force continuously; however, the penal sum must be reviewed and adjusted annually upon license renewal based on the previous year's loan origination volume.Bond classLicense BondCategoryFinancial ServicesBondMortgage Loan Company Surety BondStatutory referenceSection 58-21-7 NMSA 1978JurisdictionState
