reglab/housing_qa huggingface dataset:
NM Stat § 58-21-14 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-14 - Notice of contemplated action; hearings.

A. When the director contemplates taking any action specified in Section 58-21-8 NMSA 1978 and Paragraphs (1) through (7) of Subsection A of Section 58-21-28 NMSA 1978, the director shall serve upon the licensee a written notice containing a statement: (1) that the director has sufficient evidence that, if not rebutted or explained, will justify the director in taking the contemplated action; (2) indicating the general nature of the evidence; and (3) that unless the licensee within twenty days after service of the notice deposits in the mail a certified return receipt requested letter addressed to the director and containing a request for a hearing, the director will take the contemplated action. B. If the licensee does not mail a request for a hearing within the time and in the manner required by this section, the director may take the action contemplated in the notice, and such action shall be final and not subject to judicial review. C. If the licensee mails a request for a hearing as required by this section, the director shall, within thirty days of receipt of the request, notify the licensee of the time and place of the hearing, the name of the person who shall conduct the hearing for the director and the statutes and regulations authorizing the director to take the contemplated action. History: Laws 1983, ch. 86, § 14; 2009, ch. 122, § 37. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, deleted former Subsection A, which required notice of any proposed order of suspension, revocation or denial of registration; deleted former Subsection B, which provided that a mortgage loan company and a loan broker were entitled to a hearing on application; and added Subsections A through C. Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-21-15 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-15 - Investigations by director.

A. The director may make any public or private investigation, within or outside of this state, as the director finds necessary to determine whether a person has violated or is about to violate the Mortgage Loan Company Act or any rule or order of the director under that act or to aid in enforcement of that act or in the rules under that act. B. The director may publish information concerning a violation of the Mortgage Loan Company Act or a rule or order of the director under that act or concerning mortgage loan activities of persons that may operate as a fraud or deceit. History: Laws 1983, ch. 86, § 15; 2001, ch. 251, § 10; 2001, ch. 264, § 10; 2009, ch. 122, § 38. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2001 amendment, effective July 1, 2001, deleted "injunctions" from the section heading; rewrote Subsection A; deleted Subsection B, which gave the director power to investigate a mortgage loan company or loan broker and, if seeing that they are in violation of the Mortgage Loan Company and Loan Broker Act, to begin criminal proceedings, to give a cease and desist order or apply to any district court having venue to enjoin the act or practice and to enforce compliance; and added present Subsection B.
NM Stat § 58-21-16 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-16 - Review of order of director.

A. Any person aggrieved by a final order of the director may appeal to the district court pursuant to the provisions of Section 39-3-1.1 NMSA 1978. B. The commencement of the proceedings under Subsection A of this section does not, unless specifically ordered by the court, operate as a stay of the director's order. History: Laws 1983, ch. 86, § 16; 1998, ch. 55, § 59; 1999, ch. 265, § 63. ANNOTATIONSThe 1999 amendment, effective July 1, 1999, substituted "Section 39-3-1.1" for "Section 12-8A-1" in Subsection A. The 1998 amendment, effective September 1, 1998, rewrote Subsection A.
NM Stat § 58-21-17 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-17 - Escrow services.

Any licensee under the Mortgage Loan Company Act who also performs any acts that are within the scope of activities regulated by any statutes of the state relating to escrow agents shall also comply with all provisions of those statutes, and the issuance of a license under the Mortgage Loan Company Act shall not serve to relieve the licensee from compliance with the provisions of such other statutes. History: Laws 1983, ch. 86, § 17; 2009, ch. 122, § 39. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act", changed "registrant" to "licensee"; and after "those statutes, and", deleted "registration", and added "the issuance of a license". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-21-18 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-18 - Permissible charges.

In connection with any loan originated, brokered, negotiated or made by a licensee pursuant to the Mortgage Loan Company Act, a mortgage loan company shall not collect, charge or receive broker fees in excess of six percent of the principal amount of the loan. A licensee may charge reasonable settlement, origination, transaction and other fees or charges not otherwise prohibited or limited by applicable state or federal laws. History: Laws 1983, ch. 86, § 18; 1984, ch. 15, § 2; 2001, ch. 251, § 11; 2001, ch. 264, § 11; 2009, ch. 122, § 40. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act", changed "registrant" to "licensee"; after "Act, a", deleted "broker may" and added "mortgage loan company shall". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2001 amendment, effective July 1, 2001, substituted "Permissible" for "Prohibited" in the section heading; and rewrote the section, which formerly stated that no charges other than interest could be made, except for specific exceptions.
NM Stat § 58-21-19 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-19 - Compliance with federal and state law.

In connection with any loan originated, brokered, negotiated or made by a licensee pursuant to the Mortgage Loan Company Act, a licensee shall comply with: A. applicable federal or state laws; B. the provisions of the Home Loan Protection Act; and C. the provisions of the New Mexico Mortgage Loan Originator Licensing Act [58-21B-1 to 58-21B-24 NMSA 1978]. History: Laws 1983, ch. 86, § 19; 1984, ch. 15, § 3; 2001, ch. 251, § 12; 2001, ch. 264, § 12; 2003, ch. 436, § 17; 2009, ch. 122, § 41. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act", changed "registrant" to "licensee"; in Subsection A, after "applicable federal", deleted "consumer lending" and added "or state"; and added Subsection C. Severability. — Laws 2003, ch. 436, § 18, effective June 20, 2003, provides for the severability of the act if any part or application is held invalid. Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2003 amendment, effective June 20, 2003, inserted the Subsection A designation and added Subsection B. The 2001 amendment, effective July 1, 2001, rewrote the section heading, which formerly read "Prohibited withholding and escrowing of loan proceeds; disclosure; penalty"; deleted Subsections A to D, which prohibited withholding or escrowing of loan proceeds for certain purposes, prohibited prepaid interest in the nature of points, and required the applicant to supply a disclosure; and inserted "registrants shall comply with applicable federal consumer lending laws".
NM Stat § 58-21-20 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-20 - False statement unlawful.

It is unlawful for any person to make or cause to be made in any document filed with the director in any proceedings under the Mortgage Loan Company Act any statement that is at the time and in the light of the circumstances under which it is made false or misleading in any respect. History: Laws 1983, ch. 86, § 20; 2009, ch. 122, § 42. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act" and after "misleading in any", deleted "material". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-21-21 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-21 - Fraud unlawful.

It is unlawful for any mortgage loan company in connection with the origination, brokering, negotiating or making of any mortgage loan, directly or indirectly, to: A. employ any device, scheme or artifice to defraud; or B. engage in any act, practice or course of business that operates or would operate as a fraud or deceit upon any person. History: Laws 1983, ch. 86, § 21; 2009, ch. 122, § 43. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, in the first sentence, after "mortgage", added "loan"; after "company", deleted "or loan broker" and after "brokering", added "negotiating". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-21-22 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-22 - Penalties.

A person who violates Section 58-21-18, 58-21-19, 58-21-20 or 58-21-21 NMSA 1978, knowing the statement to be false or misleading in any respect, is guilty of a fourth degree felony and upon conviction shall be sentenced as provided for in Section 31-18-15 NMSA 1978. Civil and criminal penalties are in addition to any remedies available at common law. History: Laws 1983, ch. 86, § 22; 2001, ch. 251, § 13; 2001, ch. 264, § 13; 2009, ch. 122, § 44. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, deleted Sections 58-21-3 and 58-21-20 NMSA 1978; added Section 58-21-20 NMSA 1978 and after "any", deleted "material". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2001 amendment, effective July 1, 2001, updated the internal references throughout the section; substituted "Section 31-18-15 NMSA 1978" for "the Criminal Sentencing Act"; and inserted "Civil and criminal penalties are in addition to any remedies available at common law.".
NM Stat § 58-21-23 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-23 - Filing and destruction of documents.

A document is filed when it is received by the director. The director may permit the destruction of any document filed under the Mortgage Loan Company Act with the division or the director after six years from the date of filing documents. History: Laws 1983, ch. 86, § 23; 2001, ch. 251, § 14; 2001, ch. 264, § 14; 2009, ch. 122, § 45. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2001 amendment, effective July 1, 2001, deleted Subsection B, which formerly read "the production of documents by photograph or microphotograph of a permanent nature"; and deleted the Subsection A designation, which preceded "six years".
NM Stat § 58-21-23.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-23.1 - Repealed.

History: Laws 2005, ch. 191, § 2; repealed by Laws 2007, ch. 224, § 3.ANNOTATIONSRepeals. — Laws 2007, ch. 224, § 3 repeals 58-21-23.1 NMSA 1978, being Laws 2005, ch. 191, § 2, relating to execution of documentation for real estate transactions, effective July 1, 2007. For provisions of former section, see the 2006 NMSA 1978 on NMOneSource.com.
NM Stat § 58-21-23.2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-23.2 - Funding of real estate transactions; enforcement.

A. Unless the net loan funds necessary to complete a purchase of real property have been previously delivered to the seller or to the closing agent, a lender shall deliver the required net loan funds within two business days of the time that the lender deems the closing agent has fulfilled the requirements of the closing agent's duties, except for the recordation of documents, and shall: (1) authorize the closing agent to record with the county clerk all documents necessary to complete the real estate transaction and release the proceeds of the real estate transaction in accordance with agreed upon escrow instructions; (2) advise the closing agent of any funding conditions, as set forth in the lender's escrow instructions, that have not been satisfied and instruct the closing agent in writing what is to be done with any of the lender's funds held in escrow; or (3) advise the closing agent that the documentation for the real estate transaction does not satisfy the lender's escrow instructions, specify the manner in which that documentation does not satisfy those instructions and instruct the closing agent in writing what is to be done with any of the lender's funds held in escrow. B. In the event a lender does not comply with the requirements of Subsection A of this section, unreasonably refuses to approve the documentation necessary to complete a real estate action or unreasonably delays authorization of the recordation of closing documents and release of proceeds of a real estate transaction, the director of the division may, upon receipt of a complaint and in accordance with the procedures set forth in the Mortgage Loan Company Act, suspend or revoke any state registration or license issued to the lender for a period not to exceed one year. History: Laws 2005, ch. 191, § 3; 2007, ch. 224, § 2; 2009, ch. 122, § 46. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected. The 2007 amendment, effective July 1, 2007, provides that unless the net loan funds have been delivered to the seller or the closing agent, the lender shall deliver the net loan funds within two business days after the closing agent has fulfilled the closing agent's duties, except for recordation of documents.
NM Stat § 58-21-24 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-24 - Repealed.

ANNOTATIONSRepeals. — Laws 2001, ch. 251, § 17 and Laws 2001, ch. 264, § 17 repeals 58-21-24 NMSA 1978, being Laws 1983, ch. 86, § 24, regarding the effect of the enactment of the Mortgage Loan Company and Loan Broker Act on existing mortgage loan companies or loan brokers, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com.
NM Stat § 58-21-25 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-25 - No impairment of other remedies.

The Mortgage Loan Company Act is not intended to impair any remedies available to injured parties under other statutes or under common law. History: Laws 1983, ch. 86, § 25; 2009, ch. 122, § 47. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act". Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-21-26 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-26 - Exemption from authority of superintendent of regulation and licensing.

The responsibilities and authority of the director under the Mortgage Loan Company Act are explicitly exempted from the authority of the superintendent of regulation and licensing as set forth in Subsection B of Section 9-16-6 NMSA 1978. History: Laws 1983, ch. 86, § 26; 2009, ch. 122, § 48. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act", changed "secretary of commerce and industry" to "superintendent of regulation and licensing" and changed Section 9-2-5 NMSA to Section 9-16-6 NMSA 1978. Severability. — Laws 1983, ch. 86, § 27, provides for the severability of the act if any part or application thereof is held invalid. Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-21-27 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-27 - Repealed.

ANNOTATIONSRepeals. — Laws 2001, ch. 251, § 17 and Laws 2001, ch. 264, § 17 repeals 58-21-27 NMSA 1978, being Laws 1987, ch. 343, § 1, requiring service entities who serve New Mexico customers to have an office or agent in New Mexico, and requiring a ten-day response time to customers' inquiries, effective July 1, 2001. For provisions of former section, see the 2000 NMSA 1978 on NMOneSource.com.
NM Stat § 58-21-29 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-29 - Power of court to grant relief.

A. Upon a showing by the director that a person has or is about to violate the Mortgage Loan Company Act or any rule or order of the director under that act, the district court of the first judicial district for Santa Fe county or other appropriate district court in the state may grant or impose one or more of the following appropriate legal or equitable remedies: (1) a temporary restraining order, permanent or temporary prohibitory or mandatory injunction or a writ of prohibition or mandamus; (2) a civil penalty up to a maximum of twenty-five thousand dollars ($25,000) for each violation; (3) disgorgement; (4) declaratory judgment; (5) restitution to consumers; (6) the appointment of a receiver or conservator for the defendant or the defendant's assets; (7) recovery by the director of all costs and expenses for conducting an investigation or the bringing of any enforcement action under that act; or (8) other relief as the court deems just. B. In determining the appropriate relief to grant, the court shall consider enforcement actions taken and sanctions imposed by the director under Section 58-21-28 NMSA 1978 in connection with the transactions constituting violations of the Mortgage Loan Company Act. C. The court shall not require the director to post bond in an action under this section. History: Laws 2001, ch. 251, § 16; 2001, ch. 264, § 16; 2009, ch. 122, § 50. ANNOTATIONSThe 2009 amendment, effective July 31, 2009, changed the name of the act from the "Mortgage Loan Company and Loan Broker Act" to the "Mortgage Loan Company Act"; and in Paragraph (2) of Subsection A, changed the maximum penalty from $5,000 to $25,000. Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.
NM Stat § 58-21-30 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 21 - Mortgage Loan Companies|Section 58-21-30 - Unlicensed activity.

A. A person that violates Subsection A of Section 58-21-3 NMSA 1978 for the first offense is guilty of a misdemeanor and upon conviction shall be sentenced pursuant to the provisions of Section 31-19-1 NMSA 1978. B. In the case of a first conviction pursuant to Subsection A of this section, the court may impose a deferred sentence pursuant to the provisions of Section 31-20-6 NMSA 1978. C. A person that violates Subsection A of Section 58-21-3 NMSA 1978 for a second or subsequent offense is guilty of a fourth degree felony and upon conviction shall be sentenced pursuant to the provisions of Section 31-18-15 NMSA 1978. History: Laws 2009, ch. 122, § 51. ANNOTATIONSEffective dates. — Laws 2009, ch. 122, § 61 made the provisions of Laws 2009, ch. 122, § 51 effective July 31, 2009. Severability. — Laws 2009, ch. 122, § 60 provided that if any part or application of this act is held invalid, the remainder or its application to other situations or persons shall not be affected.