Homeowners, homebuyers, and members of the general public can find useful mortgage loan information, answers to frequently asked questions, and complaint procedures on this website. A primary function of the Financial Institutions Division is consumer protection. This includes investigating complaints filed with the Division that involve a licensed firm or individual, as well as handling public inquiries about licensed firms or individuals.
Mortgage lenders, brokers, and mortgage loan originators will find industry information and the necessary resources on this site to be compliant with regulations and statutes in the state of New Mexico. Use the tabs on the left to explore statutory and regulatory requirements, licensing information per the Nationwide Mortgage Licensing System and Registry (NMLS), and industry contacts. Check this page often for regulatory alerts, public notices, and important industry updates.
“Points and Fees” Exclusion for Upfront Premium on Private Mortgage Insurance
Pursuant to the New Mexico Home Loan Protection Act § 58-21A-3(M)(1)(d)(14) and 188.8.131.52 NMAC the “percentage rate” will be set biannually on the Financial Institutions Division’s website on the first business day in January and July. The Home Loan Protection Act Points and Fees Threshold Exclusion for Upfront Private Mortgage Insurance: Effective January 3, 2023, the maximum percentage of upfront premium private mortgage insurance that is excluded from the Home Loan Protection Act Points and Fees threshold test is 3.6%.