This surety bond is required by the New Mexico Regulation and Licensing Department Financial Institutions Division. After that, the bond amount will be determined by the amount that reflects the total dollar amount of mortgage loans originated annually. The required bond amount is $50,000 for the first year in business, after that the bond amount is based off of the amount of the total dollar amount of mortgage loans originated by company. Typically, the premium on this bond is as little as $375.
To Get a New Mexico Mortgage Loan Company Surety Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.