New Mexico Administrative Code

A loan is made on the security of real estate if: A. the security property is real estate pursuant to the law of the state in which the property is located; B. the security interest of the association may be enforced as a real estate mortgage or its equivalent pursuant to the law…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All savings and loan associations chartered by the state of New Mexico

Section 50-10-44 NMSA 1983.

Permanent.

September 27, 1983, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective September 15, 1997.

The objective of this sub-part [now part] is to place on state savings and loan associations limitations pertaining to loans made for the purpose of acquiring or improving real estate within the provisions of this regulation.

[Reserved]

In addition to any other limitations pertaining to real estate loans, loans for the purpose of acquiring unimproved real estate, for financing the development of real estate on the security of building lots and sites (including a lot on which a manufactured home will be located),…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All savings and loan associations chartered by the state of New Mexico.

Sections 58-10-72, 58-10-73, 58-10-83 NMSA 1978.

Permanent.

October 13, 1983, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective August 30, 1997.

The objective of this sub-part [now part] is to bring to state savings and loan associations the authority to originate, purchase, sell, service and participate in time-share loans that conform to the provisions of this part and the association's written underwriting standards.

A. "Consumer loan" means a consumer loan as defined in 12 NMAC 20.3.8 [now 12.20.38 NMAC]. B. "Dealer" means any person or group of persons acting in concert who is in the business of selling active time-share notes or contracts. C. "Developer" means any person or group of person…

A. An association may make direct or indirect time-share loans provided that: (1) at any one time the total investment made under this sub-part [now part] and in any consumer loans in aggregate shall not exceed 30 percent of any association's assets; and (2) the requirements of t…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All savings and loan associations chartered by the state of New Mexico.

Sections 58-10-50, 58-10-72 and 58-10-73 NMSA 1978.

Permanent.

June 28, 1991, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective June 14, 1997.

The objective of this sub-part [now part] is to place on state savings and loan associations limitations on loans to one borrower within the provisions of this regulation.

[Reserved]

A. The limitations on loans to one borrower that apply to federal and federally insured state savings associations under OTS Regulations Section 563.93 shall apply in the same manner and to the same extent to all state-chartered savings and loan associations. Compliance with the …

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All savings and loan associations chartered by the state of New Mexico.

Sections 58-10-72 and 58-10-83 NMSA 1978.

Permanent.

November 25, 1981, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective August 30, 1997.

The objective of this sub-part [now part] is to notify associations licensed under the statute that they have the authority to guarantee customer signatures.

[Reserved]

A. The supervisor finds that associations licensed under the provisions of the state statutes have the authority to guarantee customer signatures for documentary transactions in which an association has an interest as part of its deposit taking, lending or (in the case of an asso…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All savings and loan associations chartered by the state of New Mexico.

Section 58-10-50 NMSA 1978 in accordance with Sections 58-10-72 and 58-10-73 NMSA 1978.

Permanent.

January 18, 1983, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective August 30, 1997.

The objective of this sub-part [now part] is to afford a state chartered association parity with federal associations by permitting it to change its name to indicate it is a savings bank.

[Reserved]

An association chartered under the provisions of the Savings and Loan Act, being Section 58-10-1 NMSA 1978 et seq., may, by an amendment to its articles of incorporation, change its name to indicate that it is a savings bank.

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.

All savings and loan associations chartered by the state of New Mexico that are not members of the federal home loan bank system.

Sections 58-10-50, 58-10-72 and 58-10-73 NMSA 1978.

Permanent.

March 31, 1978, unless a later date is cited at the end of a section or paragraph. Reformatted in NMAC format effective August 30, 1997.

The objective of this sub-part [now part] is to bring to state savings and loan associations the accounting procedures that conform to the provisions of this sub-part [now part].

A. "Acquisition charges" includes finder's fee, buying commission, attorney's fee and brokerage fee paid by an association in connection with the making or acquisition of a mortgage loan or commitment, but does not include a premium paid by such association in connection with the…

A. A premium paid by an association in connection with the acquisition of a mortgage loan may be charged off when paid or may be capitalized; if capitalized, a proportionate amount thereof shall be charged to expense, at least semiannually, over the remaining term of the loan. B.…

Financial Institutions Division of the Regulation and Licensing Department, 725 St. Michael's Drive, Santa Fe, New Mexico 87504. Telephone No. (505) 827-7100.