Installment loans guidelines. " NEW MATERIAL POWER TO REPAY A. No licensee shall originate that loan that will not need paperwork and consideration regarding the customer's reasonable power to repay that loan pursuant to its terms. B. a customer's power to repay that loan will be demonstrated through fairly dependable paperwork of this customer's earnings, the customer's month-to-month debt burden, the expense of the loan, including major and interest when it comes to complete term of this loan, and also the customer's debt-to-income ratio." SECTION 11. a section that is new of brand brand brand New Mexico Small Loan Act of 1955 is enacted to learn: " NEW MATERIAL PROHIBITED PRACTICES.-- A. a loan provider shall maybe maybe perhaps perhaps not participate in any training whereby the lending company communicates,
