Statutes > New Mexico Statutes > Chapter 56 - Commercial Instruments and Transactions. > Article 8 - Money, Interest and Usury, 56-8-1 through 56-8-30. > Section 56-8-23 - Purpose of act.

Section 56-8-23 - Purpose of act.

56-8-23. Purpose of act.

The purpose of the Residential Home Loan Act [56-8-22 to 56-8-30 NMSA 1978] is to make funds for residential home financing available to New Mexicans at national market rates and to secure certain rights and protections for borrowers.