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New Mexico Mortgage License

New Mexico mortgage license is required by any individual who is involved in lending, selling, processing or originating of home loan products to home buyers and borrowers in the state. The licensing division of New Mexico has set some requirements, which the mortgage lenders, brokers and bankers are required to fulfill in order to provide their services to the citizens. The real estate industry has experienced a rapid growth and entering the home loan business can prove to be a profitable career. In case if you are thinking to become a home loan broker or a banker then it is essential for you to have a clear understanding of the New Mexico mortgage licensing requirements in order to make an informed approach.

New Mexico Mortgage Broker License

The New Mexico Financial Institutions Division regulates the licensing process of the home loan brokers in the state of New Mexico. According to the licensing division, applicants for mortgage broker license are not required to hold a physical office inside the state of New Mexico. However, it is mandatory for them to provide a surety bond in amount of $25,000. Home loan brokers in the state are not required to pass any specific exam or have any educational qualification. The licensing division does not require the brokers to maintain any minimum net worth to get their mortgage license.

New Mexico Mortgage Licensing Fees

Applicants for the NM mortgage license are required to pay a non-refundable fee of $400 in order to get approval for their state license. There is no licensing requirements for loan officer and branch office. Brokers holding state license are required to pay a renewal fee of $300.

It is essential for the applicants to obtain the mortgage broker bond before making their license application. A review of the credit and the financial statements of the brokers may also be made before approving the mortgage license. Today, there are several mortgage licensing companies that are available on the Internet. These licensing companies provide fast and hassle free licensing process. Moreover, they also offer a number of details on the licensing process undertaken in the state.
Mortgage News Daily
Mortgage News Daily is a leading online new provider specialized in the field of mortgage industry. They provide reliable details on the the mortgage broker licensing requirements in New Mexico.
American Mortgage Licensing
With the help of American Mortgage Licensing, you can get fast and hassle free way of getting you mortgage license in New Mexico. Visit the website of the company to know the mortgage licensing requirements prevalent in the state.
Integrity Mortgage Licensing
Integrity Mortgage Licensing is one of the leading mortgage licensing companies operating in several US states. They also offer mortgage broker licensing services in the state of New Mexico.

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