Important Update from Lawrence J. Horan – NMMLA
Lawrence J. Horan
14419 Oakwood Pl. NE
Albuquerque, NM 87123
(505)859-2895
Fax: (505)247-1753
lhoran34@gmail.com
August 10, 2020
NMMLA Membership
5901 Wyoming Blvd. NE J-356
Albuquerque, NM 87109
Re: Outlook for the 2021 Legislative Session
Dear NMMLA Member,
The purpose of this letter is to provide a brief update regarding issues we expect to see during the
2021 Session of the NM Legislature. The 2021 session begins on January 19, 2021 and ends on
March 20th. During a sixty legislative session, legislators are permitted to introduce and consider
legislation on any topic. All 112 legislators are up for re-election in November 2020. Based upon
losses in the June Primary election and announcements by legislators regarding the upcoming
election, we will have at least 18 new legislators. In the June Primary, three business-friendly
conservative democrats were defeated. Depending on the outcome of the general election, the
NM Senate could have a significant shift to become a more progressive body.
We have been working with the NM Land Title Association and Sen. Daniel Ivey-Soto on
legislation to adopt a Remote Online Notarization Act to allow for the use of online notarization
for real estate transactions in New Mexico. We will continue to work on the legislation during
the interim to ensure that any legislation passed will provide proper safeguards to ensure a valid
transaction is recorded and to make it easier and safe to verify real estate transactions.
As the COVID crisis continues with resulting high unemployment and a depressed economy, I
anticipate it is likely the legislature will consider legislation relating to limitations foreclosures or
changes to the foreclosure process. It will be very important to work with legislators and the
Governor to ensure that any proposed legislation does not have unintended consequences that will
negatively impact the ability of lenders to provide home loans to all New Mexicans. These are a
few issues that I anticipate we will need to address. In a sixty-day session during these difficult
economic times, there will likely be many other issues that may have an impact on our industry.
Sincerely yours,
Lawrence J. Horan
