{"Result":[{"LicenseTypeID":1859,"LicenseRequirementID":10945,"RequirementText":"

Financial Statements:  Upload an unaudited financial statement verified by a principal of the applicant and prepared in accordance with Generally Accepted Accounting Principles dated within 90 days of your fiscal year end.  Financial statements should include a balance sheet, income statement, and statement of cash flows and all relevant notes thereto.   

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**NOTE: If applicant is a start-up company, only an initial statement of condition is required. 

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","IsNote":null,"SubmittedVia":"

NMLS - Financial Statement Summary Section

","Order":1,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2026-06-02T16:11:17.123","Version":9,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10948,"RequirementText":"
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Trade Name / Other Trade Name: If the applicant is operating under a name other than its legal name (e.g., a “Trade Name,” “Assumed Name,” or “DBA”), the following documentation must be submitted:

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1. Trade Name Disclosure:

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2. Required Documentation Based on Entity Type:

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3. If Government Certificate Is Unavailable

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If a city, county, or state agency does not issue a certificate authorizing the use of the trade name, the company must upload a notification letter on company letterhead addressed to the New Mexico Financial Institutions Division (NM FID). The letter must include:

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Forced Name vs. Elective DBA

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 Forced NameElective DBA
PurposeRequired when a foreign entity must operate under a different name in a new stateVoluntarily used by a company for branding or marketing purposes
When to FileAt the time of foreign registration in the new stateCan be filed at any time
Filing LocationTypically filed in the foreign (non-domestic) stateFiled in the state and/or county where the company wishes to use the name
Common Reasons- Legal name is already in use
- Use of restricted words
- Improper designation		N/A
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Note: These requirements are guided by the provisions of §58-21 NMSA, 12.19.8 NMAC, and §53-1 NMSA.

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","IsNote":null,"SubmittedVia":"

NMLS: Upload the Document under “Trade Name/Assumed Name Registration Certificate” tab of the Document Uploads section of the Company Form (MU1).

","Order":2,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2026-06-02T16:13:21.187","Version":19,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10950,"RequirementText":"

Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with New Mexico Secretary of State. 

","IsNote":null,"SubmittedVia":"

NMLS

","Order":3,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2025-10-18T07:18:45.573","Version":3,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10956,"RequirementText":"

Certificate of Authority/Good Standing Certificate:  Upload a State-issued and approved document (typically by the Secretary of State’s office), dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in New Mexico from the New Mexico Secretary of State.

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This document should be named [NM Certificate of Authority] OR [NM Certificate of Good Standing].

","IsNote":null,"SubmittedVia":"

Upload in NMLS: under the Document Type “Certificate of Authority/Good Standing Certificate” in the Document Uploads section of the Company Form (MU1).

","Order":4,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2025-10-18T07:44:51.603","Version":8,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10957,"RequirementText":"

Flow of Funds Structure:  Submit a description of each type of transaction or service to be conducted. For each type, describe each step starting with the first encounter with the consumer and ending at the completion of the transaction when money is received by the beneficiary.  Submission may be a memo on company letterhead, a flowchart describing loan action, or a detailed breakdown within the business plan.

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Note: If submitting multiple types of transactions or services to be conducted, combine in single document for upload.

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This document should be named Flow of Funds Structure.

","IsNote":null,"SubmittedVia":"

Upload in NMLS: under Flow of Funds Structure in the Document Uploads section of the Company Form (MU1).

","Order":5,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2025-10-18T07:45:59.273","Version":4,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10959,"RequirementText":"

Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments, including a list of any name changes. This document should be named Formation Documentation.

Unincorporated Association:
    • By-Laws or Constitution (including all amendments).

General Partnership:
    • Partnership Agreement (including all amendments).

Limited Liability Partnership:
    • Certificate of Limited Partnership; and
    • Partnership Agreement (including all amendments).

Limited Partnership:
    • Certificate of Limited Partnership; and
    • Partnership Agreement (including all amendments).

Limited Liability Limited Partnership:
    • Certificate of Limited Liability Limited Partnership; and
    • Partnership Agreement (including all amendments).

Limited Liability Company (\"LLC\"):
    • Articles of Organization (including all amendments);
    • Operating Agreement (including all amendments);
    • Proof of Secretary of State filing, fictitious business name filing, or related records evidencing the authorized use of the name;
    • IRS Form 2553 or IRS Form 8832, if S-Corp treatment is elected; and
    • LLC Resolution, if authority is not contained in the Operating Agreement.

Corporation:
    • Articles of Incorporation (including all amendments);
    • By-Laws (including all amendments), if applicable;
    • Shareholder Agreement (including all amendments), if applicable;
    • IRS Form 2553, if S-Corp treatment is elected; and
    • Corporate Resolution, if authority to complete the application is not contained in the By-Laws or Shareholder Agreement.

Sole Proprietor:
    • Doing Business As (DBA) Certificate, if applicable:
        o If the business is operated under a fictitious name, a DBA notification to NM FID is required. The New Mexico Secretary of State does not require DBA filings to legally register the name used by the sole proprietor.
    • Business License:
        o The business license issued by the city or county to legally operate, or a general business license from the state in which the formation documentation was filed.
    • Personal Identification:
        o Documentation of legal name or legal status. This must be an official government-issued document or a certified copy of a driver's license, passport, or birth certificate. If the name does not match the identification card, a divorce decree, marriage certificate, or court-ordered document is required.
    • Employer Identification Number (EIN), if applicable.

Not-for-Profit Corporation:
    • Documents required of a Corporation; and
    • Proof of nonprofit status:
        o IRS 501(c)(3) designation letter; or
        o Statement from a State taxing body or Attorney General certifying that:
            (1) The entity is a nonprofit organization operating within the State; and
            (2) No part of the entity's net earnings may lawfully benefit any private shareholder or individual.
        o The entity's Certificate of Incorporation or similar document if it clearly establishes nonprofit status; or
        o Any of the above items if they apply to a State or national parent organization, along with a statement from that organization affirming the applicant is a local nonprofit affiliate.

Trust (Statutory):
    • Certificate of Trust; and
    • Governing Instrument (including all amendments).

","IsNote":null,"SubmittedVia":"

Upload in NMLS: under the Document Type Formation Document in the Document Uploads section of the Company Form (MU1).

","Order":6,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2026-06-03T20:30:54.6","Version":10,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10968,"RequirementText":"

Surety Bond: Company shall initially submit bond in the amount of $50,000 furnished by a surety company authorized to conduct business in New Mexico.  After the first year, the surety bond will be based on the total dollar amount of mortgage loans originated annually in New Mexico by the licensee and will be based on the Origination Volume (see table below).   

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The name of the principal insured on the bond must match exactly the full legal name of applicant, including any Other Trade Names. 

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NOTE:   1) If Principal is a corporation or limited liability company, a resolution of Board of Directors, or Managers of the Principal authorizing execution of the bond must be attached.  (SAMPLE RESOLUTION ATTACHED.) 2) Valid power of attorney from the Surety must be attached. 3) When required to do so by the Director of the Financial Institutions Division of the State of New Mexico, the Principal must furnish the name and address of its resident agent that shall accept service of process on behalf of the Principal. 

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To complete the bond form:  NM Mortgage Company Bond Form  

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This document should be named [License Type] Surety Bond.

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After the first year, the surety bond will be based on the total dollar amount of mortgage loans originated annually in New Mexico by the licensee and will be based on the following scale:

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Surety Bond Requirements Table

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Total Dollar Amount Of Mortgage Loans Originated Annually

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Bond Amount

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$0 - $3,000,000

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$50,000

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Greater than $3,000,000 but less than $10,000,000

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$100,000

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Greater than $10,000,000

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$150,000

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","IsNote":null,"SubmittedVia":"

NMLS: Upload under Surety Bond in the Document Uploads section of the Company Form (MU1).

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","Order":7,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2026-06-02T16:12:16.44","Version":12,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10974,"RequirementText":"

Memorandum of Tax Certification: Provide a certified memorandum indicating all federal and state tax obligations have been paid OR that a payment plan is in place (if applicable). This item must be on company letterhead and signed by the CEO or CFO. 

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This document should be named Memorandum of Tax Certification.

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","IsNote":null,"SubmittedVia":"

Upload in NMLS: under the Document Type Memorandum of Tax Certification in the Document Uploads section of the Company Form (MU1). 

","Order":8,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2025-10-18T07:49:40.153","Version":11,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10976,"RequirementText":"

Qualified Individual Sponsorship and Licensure:   A Qualified Individual (QI) must be designated by the mortgage loan company.  (The QI oversees the company’s mortgage operations in New Mexico and is responsible for supervising all residential mortgage loan activities conducted by the company in the state)

\n","IsNote":null,"SubmittedVia":"

NMLS

","Order":10,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2026-06-02T16:14:11.223","Version":18,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":10981,"RequirementText":"

Longevity in Business: Provide the length of time the applicant has been engaged in the mortgage business in New Mexico and other jurisdictions. This requirement must be on company letterhead and signed by the CEO or CFO.

","IsNote":null,"SubmittedVia":"

Upload in NMLS: under the Document Type Longevity in Business in the Document Uploads section of the Company Form (MU1). 

","Order":9,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2025-10-18T07:51:10.747","Version":8,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":29533,"RequirementText":"

Qualified Individual Verification of Experience: Provide a license specific resume with detailed job descriptions and/or duties performed evidencing experience in the industry the company is applying for a license. Detailed job descriptions and duties with all employers need to be incorporated into a resume to demonstrate experience related to the specific state license being applied for. Verifiable proof of 2 years’ experience as a principal, partner, officer, director, manager, processor or underwriter of a mortgage loan company or a mortgage loan originator or equivalent lending experience in a related business during the four years immediately preceding the time of application.

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58-21-3 License required; qualified manager:

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A. It is unlawful for any person to transact business in the state of New Mexico, either directly or indirectly, as a mortgage loan company without first filing an application with the director, meeting requirements established by the director and obtaining a license under the Mortgage Loan Company Act [58-21-1 NMSA 1978].

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B. A mortgage loan company shall designate at least one qualified manager who shall:

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1. obtain and maintain a mortgage loan originator license and unique identifier number pursuant to the New Mexico Mortgage Loan Originator Licensing Act [58-21B-1 NMSA 1978]; and

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2. have not less than two years verifiable experience as a principal, partner, officer, director, manager, processor or underwriter of a mortgage loan company or a mortgage loan originator or have equivalent lending experience in a related business during the four years immediately preceding the time of application.

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C. A qualified manager shall serve as a qualified manager for only one mortgage loan company.

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This document should be named [Qualified Individual Name] - Verification of Experience

","IsNote":null,"SubmittedVia":"

Upload in NMLS: in the Document Uploads section of the designated Qualified Individual's Individual Form (MU4).

","Order":null,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2025-10-18T07:56:55.123","Version":9,"ChangeType":"MOD"},{"LicenseTypeID":1859,"LicenseRequirementID":31515,"RequirementText":"

FID Guidance on Telework Remote Work from Non-Licensed Locations:  Applicants and licensees should consult the Division's website and the linked guidance document for the most current telework and remote work requirements and expectations:

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New Mexico Financial Institutions Division Website

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Telework / Remote Work Guidance

","IsNote":true,"SubmittedVia":"N/A","Order":null,"RequirementsCategory":null,"NMLSDocumentUploadType":null,"PostApplicationTaskGenerated":null,"LicenseItemType":null,"AdditionalTaskInfo":null,"ModifiedBy":"Ms. Amanda Urban (Amanda.Urban@state.nm.us)","Modified":"2026-06-22T18:28:14.33","Version":4,"ChangeType":"MOD"}],"Id":13759,"Exception":null,"Status":5,"IsCanceled":false,"IsCompleted":true,"IsCompletedSuccessfully":true,"CreationOptions":0,"AsyncState":null,"IsFaulted":false}