New Mexico Mortgage Broker Bonds

License Overview

Mortgage Brokers in the state of New Mexico are regulated by the Financial Institutions Division of the New Mexico Regulation & Licensing Department. The state defines the term broker as a person who acts as an agent, borrower, or finder of monetary funds for the purpose of a loan or a mortgage.

New Mexico is a lenient state when it comes to their requirements for licensing. There are not any net worth requirements, or any educational requirements. There is a $25,000 Surety Bond Requirement which makes it relatively inexpensive in the standard market. It is required that Mortgage Brokers, Mortgage Loan Companies, and Mortgage Loan Originators all have the Surety Bond in place in order to be licensed. There is also an examination fee that must be paid to the state. They charge $300 and they investigate your business along with employees working for you.

Bad Credit New Mexico Mortgage Broker Bonds

Any applicant with less than perfect credit is encouraged to apply with JW Bond Consultants, Inc. We have a special program that is tailored to meet the needs of applicants that are considered higher risk.

New Mexico License Requirements

Age: 18

State Residency: None required

Experience: None required

Education: None required

Continuing Education: None required

Net Worth: None required

Surety Bond: $25,000

Free Surety Bond Quote

Background Check: Credit & criminal check

Managing Principle:

New Mexico State Licensing Fees

Initial Application: $400 + $300 examination fee

Branch Location: $400

Renewal Application: $300

Branch Offices:

In State Requirements: Physical Location is not required

Licensure Requirements: Each branch must be licensed, bonded, and examined

Exemptions:

Entities: Bank, Trust Company, Savings and Loan Company, Credit Union, Insurance Company, Real Estate Investment Trusts, Attorney, Licensed real estate Broker in New Mexico, Person acting under the court, USA government.

Safe Harbor: None

*This Information for licensing is provided only as a quick reference, make sure you contact the state to verify all information prior to making your application.

Get a FREE quote on your Mortgage License Surety Bond online now!

Choose Another State:

Commercial Bonds

• 

Warning: require(http://www.jwsuretybonds.com/temp3_mortgage_broker.php) [function.require]: failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found in /var/www/vhosts/jwsuretybonds.com/httpdocs/surety-bonds/commercial-bonds/mortgage-broker-bonds/new_mexico_mortgage_broker_bond.htm on line 134

Fatal error: require() [function.require]: Failed opening required 'http://www.jwsuretybonds.com/temp3_mortgage_broker.php' (include_path='.:/usr/local/php-5.2.11/lib/php:/usr/share/php') in /var/www/vhosts/jwsuretybonds.com/httpdocs/surety-bonds/commercial-bonds/mortgage-broker-bonds/new_mexico_mortgage_broker_bond.htm on line 134