New Mexico mortgage loan company bonds.
From $100.
New Mexico has no separate mortgage broker license. The mortgage loan company license covers companies that broker loans (NMSA § 58-21-2), so a broker files this same bond.
New Mexico licenses mortgage loan companies through the Financial Institutions Division, and NMSA § 58-21-7 requires a corporate surety bond of $50,000 at first licensure, 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.
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How much does a New Mexico mortgage loan company bond cost?
0.6% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
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:
Apply online
Company details, the penal sum your tier requires, an effective date, and a term. That is the application. No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
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.
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.
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.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
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.
What sets the price
The premium is 0.6% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $250,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields — company details, the penal sum, an effective date, and a term. That is the application.
Start the application →Common questions.
New Mexico mortgage license bonds.
We write 2 mortgage license bonds in New Mexico. Each license has its own bond, amount and price; pick the one your license calls for.
| License bond | Required by | Bond amount | Price |
|---|---|---|---|
| Mortgage Loan Company Bond (this page) | NMSA 1978 § 58-21-7 | Varies | From $100 |
| Mortgage Loan Originator Bond | NMSA 1978 § 58-21B-17 | Varies | From $100 |
Other New Mexico bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Mortgage loan company bond, issued today.
0.6% of the bond amount, $100 minimum, issued the moment you pay. No credit check up to $250,000, free until issued.