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New Mexico Escrow Company Corporate Bond

How much does an escrow company corporate bond cost in New Mexico?

The New Mexico Financial Institutions Division requires escrow companies to post a $50,000 surety bond. Premiums are subject to underwriting, but applicants with strong financial credentials could qualify to pay as low as 1% of the required bond amount, or just $500.

Apply now to get a free, personalized bond quote!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Escrow Company Corporate Bond $50,000 Starts at $500 2,500-5,000 $5,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

If you’re ready to get the New Mexico surety bond you need, give us a call at 1 (800) 308-4358 or submit an online bond request form. We’ll work hard to get you bonded quickly, easily and accurately.

Why do I need this bond?

New Mexico escrow company corporate surety bonds are put in place to ensure that the principal (escrow company) complies with all of the rules and regulations stated in the New Mexico Escrow Company Act. According to these provisions, escrow companies must:

  • have a separate ledger for each account
  • maintain all disbursements and receipts
  • submit tax information to the Director of the Financial Institutions Division
  • and more

Have a question about your bond? Our bond experts are here to help! Submit a bond request form now.

What’s the fine print?

New Mexico escrow company bonds expire on the same date the escrow company’s license is withdrawn, terminated through non-renewal or revoked by the director. The surety can cancel the bond at any time by providing written notice of cancellation by certified mail to the escrow company and the director. Cancellation goes into effect 30 days after the receipt of said notice.

How to start an escrow company in New Mexico

To become a licensed escrow company in New Mexico, applicants must provide the following:

  • escrow company name and d/b/a name
  • type of business entity
  • names and addresses of any incorporators, directors, officers, partners, owners and managers of the escrow company
  • itemized statement of the estimated receipts and expenditures of the proposed first year of operation
  • current resumes for all officers and managers of the escrow company
  • mailing and contact information for the principal office and the contact person
  • $400 licensing fee for the main office location and $200 for each branch location
  • and more

Begin the licensing process by posting the surety bond you need. Get started here!

Ready to get started?

Get a FREE Escrow Company Corporate Bond Quote Today!

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