NM mortgage loan company bonds.
0.6% of the bond amount.

New Mexico licenses mortgage loan companies through the Financial Institutions Division, and NMSA § 58-21-7 conditions the license on a corporate surety bond with an initial penal sum of $50,000, stepping to $100,000 or $150,000 at renewal based on the loans you originate in-state. The premium is 0.6% of the bond amount, $100 minimum, the bond issues the moment you pay, and any credit screen is a soft pull only — never a hard inquiry, and it never affects your score.

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Required to license a mortgage loan company in New Mexico under NMSA 58-21-7

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$50,000 at first licensure — then $50,000 / $100,000 / $150,000 by annual NM origination volume

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0.6% of the bond amount, $100 minimum — your exact price appears at the application

0.6% rate$100 minimumInstantissuance at checkoutSoft pullnever a hard inquiry

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How it works

Three steps. One sitting.

Mortgage loan company bonds are amount-priced, not underwriting-priced. Pick the penal sum your volume tier requires, pay, and file with NMLS. Here is the whole process:

NOW · ONLINE

Apply online

Company details, the penal sum your tier requires, an effective date, and a term. That is the entire application — any credit screen is a soft pull that never shows as a hard inquiry.

INSTANTLY

Pay & e-sign

The bond issues the moment you pay — your executed bond and power of attorney generate on the spot at 0.6% of the bond amount, $100 minimum.

SAME DAY

File with the Financial Institutions Division

Your executed bond arrives by email, ready to upload with your NMLS mortgage loan company filing. Wet-ink original mailed on request.

About this bond

What it is and who needs it.

What the bond actually guarantees

New Mexico licenses mortgage loan companies under the Mortgage Loan Company Act, NMSA 1978 Chapter 58, Article 21, administered by the Financial Institutions Division of the Regulation and Licensing Department. Section 58-21-7 requires a surety bond as a condition of licensure, with an initial penal sum of $50,000.

At renewal the statute ties the penal sum to the total dollar amount of mortgage loans you originated in New Mexico during the year: $50,000 for zero to $3 million, $100,000 for more than $3 million and less than $10 million, and $150,000 at $10 million or more. The division confirms your tier when it processes the renewal.

The bond stands behind your compliance with the Act — it backs borrowers and the state, not you. If the surety pays a claim, you repay the surety. The bond has to stay continuously on file for the license to remain in good standing; we track the term and send renewal notices 60 and 30 days out.

NMSA 1978 § 58-21-7Section 58-21-7 of the Mortgage Loan Company Act requires a licensed mortgage loan company to file a surety bond with the Financial Institutions Division. The penal sum is an initial amount of fifty thousand dollars ($50,000); upon renewal it reflects the total dollar amount of mortgage loans originated annually in New Mexico — $50,000 for $0 to $3,000,000, $100,000 for more than $3,000,000 and less than $10,000,000, and $150,000 for $10,000,000 or more. Confirm your tier with the division before you file.

You need this bond if you're

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Applying for a New Mexico mortgage loan company license — the initial bond is $50,000

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Renewing your license — the penal sum steps with your annual NM origination volume

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Crossing a volume tier — passing $3 million or $10 million raises the required bond

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Reinstating a license that lapsed when the prior bond was cancelled

One application, issued instantly.

These are the actual issuing fields — company details, the penal sum, an effective date, and a term. That is the entire application.

Start the application →

FAQ

Common questions.

How much is the New Mexico mortgage loan company bond?The premium is 0.6% of the bond amount, $100 minimum. The penal sum is set by NMSA 58-21-7 — $50,000 at initial licensure, then $50,000, $100,000, or $150,000 at renewal depending on your annual New Mexico origination volume. Your exact price appears at the application.

Which penal sum applies to me?New licensees post $50,000. At renewal: $50,000 for $0 to $3 million originated in New Mexico, $100,000 for more than $3 million and less than $10 million, and $150,000 at $10 million or more. The Financial Institutions Division confirms the tier when it processes your renewal.

Do I pay the $50,000?No. You pay the premium — 0.6% of the bond amount, $100 minimum. The penal sum is the surety's maximum liability if a valid claim is made against the bond, not a deposit.

Is there a credit check?If a credit screen runs on this bond, it is a soft credit pull only — never a hard inquiry, and it never affects your score. The rate stays 0.6% of the bond amount, $100 minimum, either way.

Does my bond cover my loan originators?It can. Under the New Mexico Mortgage Loan Originator Licensing Act, a mortgage loan originator who is an employee or exclusive agent of a licensed mortgage loan company may rely on the company's surety bond in lieu of an individual bond. Confirm the arrangement with the Financial Institutions Division.

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Mortgage loan company bond, issued today.

0.6% of the bond amount, $100 minimum, issued the moment you pay. Soft pull only, free until issued.

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Your premiumfrom $100

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