N.M. Admin. Code § 12.19.2.14
The documentation of "reasonable ability to repay", in Section 58-21B-13(C)(24) NMSA 1978, will depend upon the totality of facts and circumstances relating to a specific residential mortgage loan transaction and the borrower's financial condition and circumstances. While the documentation of certain residential mortgage loan transactions may clearly demonstrate the borrower's reasonable ability to repay, others may require closer scrutiny to determine whether the documentation for a particular residential mortgage loan transaction sufficiently demonstrates ability to repay. The "reasonable ability to repay" standard shall be demonstrated through reasonably reliable documentation. Reasonably reliable documentation means any documentation that is required by a mortgage loan company to satisfy the requirements of a loan product that meets the borrower's requested terms and qualifications, documents the source of repayment and includes verifiable written documentation obtained from the borrower or a third party. Reasonably reliable documentation may include but may not be limited to verbal verifications.
N.M. Admin. Code § 12.19.2.14