N.M. Code R. § 5.7.26.8 – Lenders Certification of Intent

A. For eligible loans originated prior to the date of a loan purchase agreement, and which are to be sold to the foundation pursuant to such loan purchase agreement, the lender must certify that the eligible loans were originated by lender with the reasonable expectation that such eligible loans would be acquired by the foundation and not with the intent that lender retain ownership of such eligible loans.
B. In fulfilling its obligations under paragraph 2.01 [now Subsection A of 5.7.26.8 NMAC] a lender shall:
(1) make available loan applications and other documentation, together with qualified loan personnel, at locations reasonably accessible to eligible borrowers, and
(2) undertake promotional activities to publicize the availability of student loans.
[Recompiled 10/31/01]