New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 19 - MORTGAGE LENDING
Part 2 - MORTGAGE LOAN ORIGINATOR REQUIREMENTS
Section 12.19.2.10 - HEARING PROCEDURES AND CHALLENGE PROCESS
Universal Citation: 12 NM Admin Code 12.19.2.10
Current through Register Vol. 35, No. 18, September 24, 2024
A. In reference to Section 58-21B-14 NMSA 1978, hearings requested shall be conducted under the following procedures.
(1) The mortgage loan originator
shall request a hearing in writing by certified return receipt letter
addressed to the director. The director shall, within 30 days of receipt of the request, notify the mortgage loan
originator of the date, time and place of the hearing.
(2) Hearings shall be conducted
pursuant to the Administrative Procedures Act, Sections
12-8-10
and
12-8-11 NMSA
1978.
(3) Hearings shall be
conducted in Santa Fe county or another county if agreed to by the director and
the mortgage loan originator.
(4)
All hearings shall be conducted by the director or by a hearing officer
designated by the director. A hearing officer shall, within 30 days following
the hearing, submit to the director a report setting forth the hearing
officer's findings of fact and conclusions of law.
(5) All hearings shall be open to the public.
In cases in which the reputation of an applicant or licensee may be damaged or,
for good cause shown, the director or hearing officer may hold a closed hearing
and must state the reasons for this decision in the record.
(6) A complete record shall be made of all
evidence and testimony received during the course of any hearing.
(7) Within sixty (60) days after the hearing,
the director shall serve upon the applicant or licensee a copy of the final
written order.
B. In reference to Section 58-21B-12 NMSA 1978, the challenge process shall be conducted under the following procedures.
(1) Any person aggrieved by a
final order of the director may appeal to the district court pursuant to the
provisions of Section
39-3-1.1
NMSA 1978.
(2) The commencement of
the proceedings under Paragraph (1) of Subsection B of this section does not,
unless specifically ordered by the court, operate as a stay of the director's
order.
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