New Mexico Appraisal Mangement Company Bond |
AmeriPro Surety Bonds | 844-589-9732
New Mexico Appraisal Management Companies
New Mexico appraisal management companies come under the authority of the New Mexico Regulation and Licensing Department .
The New Mexico appraisal management company statutes , including the surety bond requirements can also be found for your review.
Qualifying and the Premium
You are automatically approved for the $25,000 New Mexico appraisal management company bond. When you call us, we’ll take the application from you over the phone. Really, it’s not an application as such. Instead, we’ll just ask you the basics: The name, exactly as it should read on your surety bond, along with your different contact information (email, phone number, etc.).
After payment of the premium of $250, our agency issues this bond to you immediately. Both your newly issued surety bond and Power of Attorney form will be mailed to you. Overnight delivery is available for an additional fee.
Upon receipt, you’ll sign your bond as Principal, filing your bond and the Power of Attorney form to:
State of New Mexico
Regulation and Licensing Department
PO Box 1628
Santa Fe, New Mexico 87504
Additional Premium Payment Options
At $250 premium, your NM appraisal management company surety bond is active for one year. It will renew on the anniversary of its issuance. You also have the option to prepay your bond up to 3 years, which offers you a savings over annual renewals.
The premium prepayment amounts — and savings — are as follows:
- If prepaid for 2 years, the premium is $450, a $50 savings;
- If prepaid for 3 years, the premium is $650, a $100 savings.
Becoming Licensed as a New Mexico Appraisal Management Company
AmeriPro Surety Bonds offers new New Mexico appraisal management company bonds for first-time purchasers and licensees.
We also offer bonds for those who need to renew their surety bond licenses and who may wish to see if they qualify for a better (i.e. lower) surety bond price.
With respect to becoming licensed in New Mexico as an appraisal management company, the following are required.
- Completion of an application, which also must be notarized;
- A $1000.00 application fee (assume that the application fee is non-refundable; however, you may check with the licensing authority to determine whether this is the case or not);
- Complete the form for service of process;
- Proceed to a background check;
- Purchase a $25,000 New Mexico appraisal management bond;
- Once having been approved by the state of New Mexico, a license will be issued.
New Mexico Appraisal Management Company Bond: The amount
A New Mexico Appraisal management company bond is for $25,000 and is issued with the New Mexico Real Estate Appraisers Board as the obligee.
New Mexico Appraisal Management Company Bond: Purpose of this surety bond
Beyond being a condition for licensing, the New Mexico appraisal management company bond is issued to protect the the New Mexico Real Estate Appraisers Board from acts of theft, fraud, and criminal malfeasance in the performance of their duties.
The law states that the bond is also for the protection of the consumer. The consumer takes precedence over the state when it comes to the processing of claims.
We note that unlike an insurance policy, any claims paid on the surety bond will require the full reimbursement from the principal; that is, the license appraisal management company.
New Mexico Appraisal Management Company Bond: The Premium Amount for this Bond
While the face amount for this surety bond is $25,000, the New Mexico appraisal management company bond will be nowhere near that amount in terms of the annual premium required.
The premium amount, determined by the applicant’s credit score, may be as low as $250.00.
The final premium due, however, will be determined by the applicant’s credit score.
In this regard, AmeriPro Surety Bonds performs a “soft pull”.
This means that our credit check will not adversely affect your credit score.
Regardless of your credit score, we will work to provide the best pricing available.
AmeriPro Surety Bonds
AmeriPro Surety Bonds provides court, license and permit, and fiduciary surety bonds of all types throughout New Mexico and all 50 states.
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