Compliance with federal and state law.

In connection with any loan originated, brokered, negotiated or made by a licensee pursuant to the Mortgage Loan Company Act, a licensee shall comply with: A. applicable federal or state laws; B. the provisions of the Home Loan Protection Act; and C. the provisions of the New Mexico Mortgage Loan Originator Licensing Act [58- 21B-1 to 58-21B-24 NMSA 1978].