New Mexico State Licenses and Regulator Costs

Mortgage Loan Company License (Company)

  • NMLS Cost: $1,600

  • Additional Costs: $15 per credit report, $36.25 per criminal background check

  • Qualifying Individual: requires a Qualifying Manager with at least two (2) years of experience in certain specific mortgage activities; must be licensed as a New Mexico mortgage loan originator (contact us for more details)

  • Personal financial statements: required for the Qualifying Manager

  • Surety Bond Requirement: varies based on loan volume from $50,000 to $150,000 (contact us for details)

  • The New Mexico application process takes a significant amount of time; we recommend contacting Lynx Licensing to submit a complete application to help avoid delays

Mortgage Loan Company Branch License (Branch)

  • NMLS Cost: $520

  • Additional Costs:  $36.25 per criminal background check

  • Qualifying Individual: a branch manager or Qualified Manager is required

  • Personal Financial Statement: for Qualifying Managers, see the requirement in company section (above)

Mortgage Loan Originator (Individual)

  • NMLS Cost: $430

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Education: New Mexico requires three (3) hours of NM-approved pre-licensure education as part of your national education requirement

  • Surety Bond: $50,000 for first year (unless covered by employer's surety bond)

Please reload

Lynx Licensing charges a flat rate of $625 per state license, $120 per branch license, and $85 per individual license.

Located in Raleigh, North Carolina

ryan at lynxlicensing dot com

Follow

  • Facebook Social Icon

©2018-2020 LYNX LICENSING. ALL RIGHTS RESERVED. "NMLS", "Nationwide Mortgage Licensing System", and "Nationwide Multistate Licensing System" and associated logos are trademarks and/or service marks of State Regulatory Registry, LLC ("SRR"). Lynx Licensing and this website are not associated with, sponsored, approved, or licensed by SRR. NMLS Consumer Access.