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New Mexico Mortgage Loan Bond

Bond Requirements and Online Application

The New Mexico Mortgage Loan Bond is required by the New Mexico Regulation and Licensing Department. The bond amount is $50,000 for the first year. After that, the bond amount will be determined by the amount that reflects the total dollar amount of mortgage loans originated annually.

The bond is required for any individual or company that is required to be licensed as Mortgage Loan Company.

Who is considered a Mortgage Loan Company?New Mexico Mortgage Loan Bond

Any person, who for compensation or gain, or expected compensation  or gain, either directly or indirectly: Accepts an application for a mortgage loan, negotiates terms for a loan or solicits, processes, originates, or brokers loans for others.

What are other requirements that must be submitted in order to obtain a Mortgage Loan Company License?

  1. Use the NMLS website to submit the Mortgage Loan application.
  2. Payment of all fees: $1,000 for the registration fee, $500 for the application fee and $100 for the initial license fee. A credit report for every control person will cost $15 each.
  3. Control person attestation
  4. Certificate of Authority/Good Standing Certificate
  5. Flow of Funds Structure
  6. Formation Documents
  7. Memorandum of Tax Certification
  8. Personal Financial Statement
  9. Verification of Experience

New Mexico Mortgage Loan Bond

Where can I get a New Mexico Mortgage Loan Bond?

At Surety1 we will get you bonded quickly. You can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.

First, start the process by using our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.

Our company was established in 2003. We are located in California, but we are actually licensed to operate in all 50 states. We also maintain an A+ rating from the Better Business Bureau.

 

 

 

 

 

 

How to Get Your New Mexico Mortgage Loan Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your New Mexico Mortgage Loan Bond!   If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days

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