Total Principal Loan Amount

For purposes of the act, the term “total principal loan amount,” as used in Section 58-21A-3 (Q) (1) and (2), NMSA 1978, refers to the total principal loan amount as stated in the promissory note. [12.15.3.14 NMAC - N, 01/23/2004, A, 06/30/2004; 12.15.3.14 NMAC - Rn, 12.15.3.15 NMAC & A, 06/01/10] 12.15.3.15 “POINTS AND FEES” EXCLUSION FOR UPFRONT PREMIUM PRIVATE MORTGAGE INSURANCE: In reference to 58-21A-3(M)(1)(d)(14) NMSA 1978, the “percentage rate” will be set biannually on the financial institutions division’s mortgage lending website on the first business day in January and July.