50-State Financial Services Licensing Compliance Guide
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New Mexico Finance Licensing

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Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in New Mexico.

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Company Licenses

New Mexico Financial Services Company Licenses

New Mexico Check Casher License

Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$2000 license/registration fee + $2000 application fee + $15 credit report fee

New Mexico Collection Agency Branch License

Agency:New Mexico Regulation and Licensing Department - Financial Institutions Division
Bond Requirements:

$5,000 for each additional branch.

Initial Registration

Form:

Collection Agency Branch Original Application

Agency Fee:

$500

Notarization Required?:Required

Registration Renewal

Form:

Collection Agency and Manager Renewal Application

Agency Fee:

$300

Due:

Annually by June 30.

Amendment

Agency Fee:

$15

Notes:

To report a change of address, send a letter to the division describing the change along with the required fee.

New Mexico Collection Agency License

Agency:New Mexico Regulation and Licensing Department - Financial Institutions Division
Foreign Qualification is Prerequisite:Yes
Bond Requirements:

$5,000

Initial Registration

Form:

Collection Agency and Manager Original Application

Agency Fee:

$500

Notarization Required?:Required

Registration Renewal

Form:

Collection Agency and Manager Renewal Application

Agency Fee:

$300

Due:

Annually by June 30.

Amendment

Form:

Collection Agency Change of Manager Application

Agency Fee:

$100

Notarization Required?:Required

Amendment

Agency Fee:

$15

Notes:

To report a change of address, send a letter to the division describing the change along with the required fee.

New Mexico Currency Exchange License

Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$2000 license/registration fee + $2000 application fee + $15 credit report fee

New Mexico Money Transmission License

Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$2000 license/registration fee + $2000 application fee + $15 credit report fee + $25 fee per authorized delegate + $0.25 fee per active agent per year

New Mexico Mortgage Loan Company Branch License

Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$20 + $500 license/registration fee

New Mexico Mortgage Loan Company License

Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 + $1000 license/registration fee + $500 application fee + $15 credit report fee

New Mexico Motor Vehicle Sales Finance Branch License - In State

Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$400 license/registration fee

New Mexico Motor Vehicle Sales Finance Branch License - Out of State

Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$500 license/registration fee

New Mexico Motor Vehicle Sales Finance Company License - In State

Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$400 license/registration fee

New Mexico Motor Vehicle Sales Finance Company License - Out Of State

Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$500 license/registration fee

New Mexico Repossessor License

Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$250 license/registration fee

Individual Licenses

New Mexico Individual Financial Services Licenses

New Mexico Collection Agency Manager License

Agency:New Mexico Regulation and Licensing Department - Financial Institutions Division

Registration Renewal

Form:

Collection Agency and Manager Renewal Application

Agency Fee:

$50

Due:

Annually by June 30.

New Mexico Mortgage Loan Originator License

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$30 + $200 license/registration fee + $200 application fee + $15 credit report fee + $36.25 background check fee

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