2006 New Mexico Statutes - Section 58-21A-8 — Subterfuge prohibited.

58-21A-8. Subterfuge prohibited.

No person shall, with the intent to avoid the application or provisions of the Home Loan Protection Act [ 58-21A-1 to 58-21A-14 NMSA 1978]:   

A.     divide a loan transaction into separate parts;   

B.     structure a home loan transaction as an open-end loan when the loan would have been a high-cost home loan if the loan had been structured as a closed-end loan; or   

C.     perform any other subterfuge.   

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