New Mexico Administrative Code
Title 5 - POST-SECONDARY EDUCATION
Chapter 7 - TUITION AND FINANCIAL AID
Part 29 - EDUCATIONAL LOAN PURCHASE PROGRAM REGULATIONS
Section 5.7.29.8 - LENDERS CERTIFICATION OF INTENT
Universal Citation: 5 NM Admin Code 5.7.29.8
Current through Register Vol. 35, No. 18, September 24, 2024
A. For eligible loans originated prior to the date of a loan purchase agreement, and which are to be sold to the foundation pursuant to such loan purchase agreement, the lender must certify that the eligible loans were originated by lender with the reasonable expectation that such eligible loans would be acquired by the foundation and not with the intent that lender retain ownership of such eligible loans.
B. In fulfilling its obligations under paragraph 2.01 [now Subsection A of 5.7.29.8] NMAC a lender shall:
(1) make available loan applications and
other documentation, together with qualified loan personnel, at locations
reasonably accessible to eligible borrowers, and
(2) undertake promotional activities to
publicize the availability of student loans.
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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