Hi, I'm posting here as there wasn't a New Mexico state-specific thread.

According the most recent legislation in NM, when the Principal Loan Amount is greater than $20,000 does a volation occur when the Points and Fees are EQUAL to 5% or when it EXCEEDS 5%?

For example, on a $20,000 loan would $1,000 in Fees be a violation or is it $1,001?

Thanks!