The New Mexico requirement can be found under: New Mexico Statutes Chapter 58. Financial Institutions and Regulations § 58-21B-24. Unique identifier shown
https://codes.findlaw.com/nm/chapte...nd-regulations/nm-st-sect-58-21b-24.htmlBut if you read Chapter 58 in total, which implements the New Mexico Mortgage Loan Originator Licensing Act, a depository institution is exempt from that Act.
If you have doubts, contact you State Banker's Association. I am sure they offer compliance support on State law issues.