Loan Estimate Challenges
New Mexico’s Biggest LE Challenges

New Mexico is a state in which title insurance rates are promulgated. Accordingly, title insurance premiums are governed by the New Mexico Office of Superintendent of Insurance. Rates are adjusted state wide, regardless of the identity of the title insurance provider.

Refinance Substitutions

A substitution rate, amounting to a discount on the new title insurance policy, is available on refinance transactions in New Mexico, based upon the remaining unpaid balance of the previous mortgage and the age of the prior title insurance policy. The older the prior policy, the smaller the discount applied.

The ALTA 8.1 Endorsement

It is customary in New Mexico to include the ALTA 8.1 environmental protection lien endorsement on new title insurance policies statewide. 

No mortgage recordation or deed transfer taxes

Finally, there are no mortgage recordation or deed transfer taxes in this state.


Last edited July 14, 2023

LodeStar Software Solutions prides itself on being the most accurate provider of the most up-to-date closing fees in the mortgage industry—so much so that we guarantee those rates. However, unlike the closing fee data we provide our clients through our product, LodeStar can only guarantee the accuracy of the content delivered through LE Challenges at the time of publication.LE Challenges is published solely for marketing and advertising purposes to provide an example of the depth and breadth of our commitment to providing accurate closing fees to its clients. While we do our best to update the content of LE Challenges as often as possible, the data shared here is in no way intended to serve as data to be relied upon in the generation of an actual Loan Estimate or any other element of a mortgage transaction.



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