Who requires it
Financial Institutions Division — Mortgage licensing
License & permit · New Mexico
New Mexico Mortgage Lender Bond
New Mexico mortgage loan companies must post and maintain a surety bond with the Financial Institutions Division under NMSA 1978 § 58-21-7. New licenses start at fifty thousand dollars. On renewal, the amount steps to fifty thousand, one hundred thousand, or one hundred fifty thousand dollars based on annual New Mexico mortgage origination volume. Mortgage loan originators follow the same volume schedule under § 58-21B-17, but employees or exclusive agents of a licensed company may use the company’s bond instead of posting separately.
Common bond amount
$50,000 / $100,000 / $150,000
By annual New Mexico mortgage origination volume under NMSA 1978 §§ 58-21-7 and 58-21B-17.
How you file
File electronically through NMLS on the director’s mortgage forms
Renewal
Continuous; volume reset at renewal; replace after a bond recovery
Who requires it
Licensed New Mexico mortgage loan companies under the Mortgage Loan Company Act and mortgage loan originators under the New Mexico Mortgage Loan Originator Licensing Act, unless an originator is covered by a qualifying employer company bond.
How much is required
Both statutes use the same New Mexico annual origination breakpoints: $0 to $3,000,000 → $50,000; more than $3,000,000 and less than $10,000,000 → $100,000; $10,000,000 or more → $150,000. Initial company and MLO filings use the $50,000 starting face before the renewal volume calculation applies.
How to get and file it
Confirm whether you need a company bond, an individual MLO bond, or employer coverage. Authorize a New Mexico-admitted surety in NMLS and have the surety submit the electronic bond in the required face using the director-prescribed form. Keep coverage in force while licensed. Recalculate the amount at renewal from the prior year’s New Mexico origination volume. After a recovery on the bond, file a new bond as the statutes require.
Cost note
Fifty thousand to one hundred fifty thousand dollars is the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- $0–$3M NM origination
- $50,000
- More than $3M and less than $10M
- $100,000
- $10M or more
- $150,000
- MLO coverage option
- Employee/exclusive agent may rely on the mortgage loan company bond
Official sources
Related resources
Frequently asked questions
When does the New Mexico mortgage bond jump to $100,000?
At renewal, when annual New Mexico mortgage loans originated exceed $3,000,000 but remain under $10,000,000, §§ 58-21-7 and 58-21B-17 require a $100,000 face.
Does every New Mexico MLO need a personal bond?
Not if the originator is an employee or exclusive agent of a licensed mortgage loan company whose surety already covers the originator under § 58-21B-17. Otherwise the originator must maintain the individual volume-based bond.
Related New Mexico bond guides
Money Transmitter Bond
$300,000–$2,000,000
New Mexico money transmission licensees under the Uniform Money Services Act must maintain a surety bond, letter of credit, or similar security acceptable to the director. NMSA 1978 § 58-32-203 sizes the device at the greater of three hundred thousand dollars or one percent of the licensee’s yearly New Mexico money-transmission volume—or the applicant’s projected first-year volume—capped at two million dollars. The security runs to New Mexico for claimants against the licensee’s money-transmission obligations.
Collection Agency Bond
$5,000–$25,000
New Mexico collection agencies and repossessors must file a surety bond with the Financial Institutions Division before a license issues or renews. NMSA 1978 § 61-18A-15 sets a five-thousand-dollar amount that the director may increase. 12.24.2 NMAC sizes renewals at the greater of five thousand dollars or two months’ average proceeds due clients from the prior licensing year, ordinarily capped at twenty-five thousand dollars unless the director requires stronger protection.
Motor Vehicle Dealer Bond
$12,500 / $50,000
New Mexico Motor Vehicle Division dealer, wholesaler, distributor, auto recycler, and title-service licenses require a fifty-thousand-dollar surety bond before issuance. Motorcycle-only dealers file twelve thousand five hundred dollars instead. NMSA 1978 § 66-4-7 conditions the bond on protecting purchasers against title failures, fraudulent misrepresentations, and warranty breaches as to liens. Form MVD-10175 is the ordinary filing form, and the bond must track the dealer license year that ends each March 31.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a New Mexico application
New Mexico will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-11. This guide is based on verified educational content and official sources.
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