N.M. Admin. Code § 12.19.2.18

Current through Register Vol. 35, No. 23, December 10, 2024

Section 12.19.2.18 - NINETY (90) DAY TEMPORARY LICENSE

In reference to 58-21B-4(D), a mortgage loan originator may obtain a ninety day temporary license to originate residential mortgage loans in New Mexico while they complete the licensing requirements for a New Mexico mortgage loan originator license. A temporary license shall be issued if the mortgage loan originator meets the following requirements:

A. contact the division in writing via mail or email requesting a 90 day temporary license;

B. a license status of "Approved" in another state or jurisdiction; if the mortgage loan originator's license status changes during the ninety (90) day period to anything other than "Approved", their temporary license may be rescinded;

C. apply and pay for the New Mexico mortgage loan originator license, and

D. be sponsored by a mortgage loan company licensed in New Mexico.

N.M. Admin. Code § 12.19.2.18

12.19.2.18 NMAC - N, 12/31/10