New Mexico Mortgage Loan Company Bond
Flat Rates & No Credit Check
| Aggregate Loan Volume in Preceding 12 Months | Bond Amount Required | Bond Term | Annual Premium |
| $0-$3,000,000 | $50,000 | 1 Year | $300 |
| $3,000,001-$9,999,999 | $100,000 | 1 Year | $600 |
| Exceeds $10,000,000 | $150,000 | 1 Year | $900 |
The NM Mortgage Loan Company license surety bond is required by any company or sole proprietorship, who for compensation or gain, or in the expectation of compensation or gain, directly or indirectly accepts or offers to accept an application, negotiates or offers to negotiate the terms of a mortgage loan or solicits, processes, originates, brokers or makes mortgage loans for others. See the table below to determine the required bond amount.
| Aggregate Loan Volume in Preceding 12 Months | Bond Amount | Annual Premium |
| $0-$3,000,000 | $50,000 | $300 |
| $3,000,001-$9,999,999 | $100,000 | $600 |
| Exceeds $10,000,000 | $150,000 | $900 |
In New Mexico, mortgage loan companies must maintain a surety bond ranging from $50,000 to $150,000 as part of the licensing process, regulated by the Financial Institutions Division of the New Mexico Regulation and Licensing Department.
The specific bond amount within the provided range is based on the company's annual New Mexico mortgage loan origination volume. The NNA has secured premiums of $6 per $1,000 in liability for these bonds without a credit check.
Cost of the New Mexico Mortgage Loan Company Bond
The cost of the $50,000 to $150,000 New Mexico mortgage loan company bond is $300 to $900 per bond term with NNA Surety. Secure this surety bond today.
How the New Mexico Mortgage Loan Company Bond Works
The New Mexico mortgage loan company bond protects consumers by holding licensed mortgage loan companies financially accountable for complying with applicable state requirements.
The bond involves three parties:
- Principal: Mortgage loan company
- Obligee: State of New Mexico
- Surety: Bonding company
A claim against the bond may be filed for covered violations of the New Mexico Mortgage Loan Company Act. The principal is responsible for repaying valid claims paid by the surety.
How to Get the New Mexico Mortgage Loan Company Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the applicable $300 to $900 bond premium.
- Receive the bond form via email.
- Download and file the bond as required for your New Mexico mortgage loan company license.
Learn more about your New Mexico surety bond options across the state.
Get Your New Mexico Mortgage Loan Company Bond
Stay compliant with New Mexico licensing requirements by securing your mortgage loan company bond today. Complete this form or call 855-457-2196 to get bonded.