N.M. Admin. Code § 12.20.35.9
Current through Register Vol. 35, No. 21, November 5, 2024
Section 12.20.35.9 - INSURED AND GUARANTEED RESIDENTIAL REAL ESTATE LOANSA. Loans that are insured or guaranteed by a public mortgage insur or may be made in amounts and with terms and conditions of repayment acceptable to the insuring or guaranteeing agency.B. A loan is insured or guaranteed by a public mortgage insurer if:(1) it comes within the definitions of Sections 541.10 or 541.13 of the regulations for the federal savings and loan system, or within the provisions of Title X of the National Housing Act; or(2) it is insured or guaranteed by an agency or instrumentality of a state (a) whose full faith and credit is pledged to support the insurance or guarantee, or (b) whose insurance or guarantee program is approved by the federal home loan mortgage corporation or the federal national mortgage association.N.M. Admin. Code § 12.20.35.9