There is a newer version
of
this Section
2019 New Mexico Statutes
Chapter 58 - Financial Institutions and Regulations
Article 18 - Mortgage Finance Authority
Section 58-18-3.2 - Secondary mortgage funds; additional definitions.
Universal Citation: NM Stat § 58-18-3.2 (2019)
As used in the Mortgage Finance Authority Act:
A. "pass-through securities" means securities representing undivided ownership interests in a pool of mortgage loans; and
B. "secondary market facility" means a corporation, trust or other form of legal entity established by the authority for the purpose of the purchase, with private or public funds legally available therefor, of mortgage loans, mortgage-backed obligations, pass-through securities or interests therein.
History: 1978 Comp., § 58-18-3.2, enacted by Laws 1983, ch. 285, § 1; 1995, ch. 9, § 5.
ANNOTATIONSThe 1995 amendment, effective June 16, 1995, deleted "facility or mortgage pooling" preceding "corporation" and inserted "trust or other form of legal entity" in Subsection B.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
