Code of Ethics
All members of the New Mexico Mortgage Lenders Association have read and signed this Code of Ethics Certification. If you are interested in joining NMMLA, you will be asked to confirm that your company subscribes to these standards as part of the application process.

WHEREAS, the Members of the New Mexico Mortgage Lenders Association are mindful that the soundness, usefulness, prosperity and future of mortgage lending depend upon the honor, integrity and fidelity of all personnel engaged in this business.

THEREFORE, BE IT RESOLVED, that each Member of this Association pledges to observe and maintain the following standards of conduct in dealing with the public and with other members:


CANON 1: Members shall conduct their business in a professional manner, ensuring that their personnel are knowledgeable in the areas of mortgage lending in which they participate and are acting in compliance with sound industry practices.

CANON 2: Members shall act in conformity with applicable laws and regulations and shall cooperate in every appropriate way with all governmental bodies in the interest of establishing and maintaining an efficient and fair framework for mortgage credit.

CANON 3: Members shall act in a manner that recognizes that integrity and confidence are essential in the mortgage lending business.

CANON 4: Member shall accord oral agreements the same sanctity given to written agreements.
CANON 5: Members shall not breach or avoid an agreement or commitment.

CANON 6: Members shall encourage healthy competition in the mortgage lending business.

CANON 7: Members shall conduct their business without regard to race, creed, color, sex, marital status, familial status, religion, national origin, ancestry, age or handicap of the persons with whom they deal.

CANON 8: Members shall preserve the integrity of all parts of a loan submission and appraisal report and make full disclosure of all pertinent facts including any interest they may have in the loan project or property.

CANON 9: Members shall not quote to a prospective borrower interest rates or loan terms which are not likely of realization.

CANON 10: Members shall make all reasonable efforts to process loan applications and advise applicants of approval or disapproval promptly and to close arid disburse in
a timely manner.

CANON 11:  Members shall use all efforts available in servicing investments entrusted to their care to effectively discharge their obligations to both investor and debtor.

CANON 12: Members shall maintain all monies which are received as escrow reserve or impound accounts in a prudent and identifiable manner and shall disburse these
funds for the for the purpose for which they were received or as required by law.

CANON 13: Members shall cooperate with the Ethics and Consumer Relations Committee in furnishing information relative to any investigation of a possible violation of
the Code of  Ethics.

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