New Mexico MLO License
Mortgage Loan Originator requirements for New Mexico
NMLS Required: All New Mexico MLO applications must be submitted through the Nationwide Multistate Licensing System (NMLS).
Pre-Licensing Education
Complete 20 hours of NMLS-approved pre-licensing education. including 3 hours of New Mexico-specific content.
Required Courses (20 hours total):
- • 3 hours federal law and regulations
- • 3 hours ethics (fraud, consumer protection, fair lending)
- • 2 hours nontraditional mortgage products
- • 9 hours electives
- • 3 hours New Mexico-specific content
Education must be completed through an NMLS-approved provider. Independent contractor processors and underwriters also require an MLO license.
SAFE MLO Exam
National Component
115 scored questions + 5 unscored (3 hours 10 minutes)
State Component
New Mexico UST: 25 questions (included in national test)
Passing Score
75% on both national and state components
Exam Fee
$110
Retake Policy: 30-day wait after failure
Background & Credit Check
Criminal Background
FBI criminal background check via fingerprinting
Credit Report
Required
Background Check Cost
$36
Credit Report Cost
$15
Credit report pulled by NMLS. Must demonstrate financial responsibility.
Company Sponsorship
Must be employed or associated with not more than one mortgage loan company licensee regulated by the Division
License remains in pending status until sponsorship is verified through NMLS.
Fee Breakdown
| NMLS Processing Fee | $30 |
| State License Fee | $150 |
| Examination Fee | $110 |
| Background Check | $36 |
| Credit Report | $15 |
| Total Fees | $341 |
Does not include pre-licensing education costs ($200-$500).
Annual Renewal
Renewal Period
November 1 - December 31 annually
Renewal Fee
$150
CE Required
8 hours annually
Online Renewal
Yes (via NMLS)
8 hours annually: 3 hrs federal law, 2 hrs ethics, 2 hrs nontraditional lending, 1 hr NM-specific education. Must be NMLS-approved.
New Mexico Regulation and Licensing Department - Financial Institutions Division
- Official Website
- (505) 476-4885
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Last verified: 2026-01-12