There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 21B - New Mexico Mortgage Loan Originator Licensing
Section 58-21B-9 - Standards for license renewal. (2009)
NM Stat § 58-21B-9 (2013) What's This?
58-21B-9. Standards for license renewal. (2009)
A. The minimum standards for license renewal for mortgage loan originators shall include the following:
(1) the mortgage loan originator continues to meet the minimum standards for license issuance pursuant to Section 6 [58-21B-6 NMSA 1978] of the New Mexico Mortgage Loan Originator Licensing Act;
(2) the mortgage loan originator has satisfied the annual continuing education requirements set forth in Section 10 [58-21B-10 NMSA 1978] of the New Mexico Mortgage Loan Originator Licensing Act; and
(3) the mortgage loan originator has paid all required fees for renewal of the license.
B. The license of a mortgage loan originator who fails to satisfy the minimum standards for license renewal shall expire. The director may adopt rules for the reinstatement of expired licenses consistent with the standards established by the nationwide mortgage licensing system and registry.
History: Laws 2009, ch. 122, § 9.
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