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Do New Mexico Mortgage Loan Companies and Originators Need a Surety Bond?


New Mexico Mortgage Loan Companies and Mortgage Loan Originators are required to apply for a license through the National Mortgage Licensing System (NMLS) and obtain a surety bond based on the total amount of mortgage loans.

The application process is as follows:

Complete the application and pay the license, application, credit report and initial processing fees.

Provide a copy of the business financials. If the business is new, provide a initial Statement of Condition.

Provide the following documents: Flow of Funds Structure, Certificate of Authority or Good Standing Certificate, a memorandum of tax certification, personal financial statements (a tax return and a W-2 or 1099 form) for each qualified manager, verification of experience in the form of a resume outlining specific job details and duties.

If applicable, provide a copy of formation documentation, credit report or disclosure explanations.

A $50,000 surety bond which is required for the first year as a licensee. After the first year, the bond is based on the total dollar amount of loans originated annually.

  • $0 - $3,000,000 loans originated = $50,000 surety bond
  • Greater than $3,000,000 and less than $10,000,000 loans originated = $100,000 surety bond
  • Greater than $10,000,000 loans originated = $150,000 surety bond
  • How Much Will This Bond Cost?

    The premium that you pay for a New Mexico Mortgage Loan Company License or Mortgage Loan Originator License Surety Bond is dependent on credit, bond amount required, and business and personal financials (for bond amounts over $50,000).

    Have Questions?

    Contact our Surety Bond Specialists at:

    Phone: 1‑844‑432‑6637
    Fax:     404-351-3237
    Hours: 8:00-5:00 CST, Monday through Friday

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