New Mexico N.M. Stat. § 58-21-18

In connection with any loan originated, brokered, negotiated or made by a registrant under the Mortgage Loan Company and Loan Broker Act [this article], no charges other than interest shall be made, except the following:

A. the actual and reasonable expenditures for an abstract of title, title examination, title insurance premiums, property survey, appraisal fees, notary fees, preparation of deeds, mortgages or other documents, credit reports and filing and recording fees;

B. broker's fees not in excess of six percent of the principal amount of the loan;

C. a one-time charge of an amount not to exceed fifteen dollars ($15.00) when the loan is made to a natural person, primarily for personal, family or household purposes, to help defray the actual cost of preparing truth-in-lending disclosure statements, equal credit opportunity disclosure statements and other disclosures required by law; and

D. such other fees as the director by regulation may permit.

Click here to return to the summary page.