---
type: "Bill"
title: "ADJUSTABLE RATE MORTGAGE CHANGES"
description: "ADJUSTABLE RATE MORTGAGE CHANGES"
jurisdiction: "us/states/nm"
legislature: "New Mexico Legislature"
session: "2021"
identifier: "SB 365"
citation: "New Mexico SB 365 (2021)"
classification: ["bill"]
subjects: ["FINANCIAL INSTITUTIONS", "PROPERTY (conservancy districts", "land grants", "real estate)"]
status: "enacted"
primary_sponsors: ["Kernan, Gay G."]
version_count: 3
action_count: 8
vote_count: 0
first_action: "2021-02-10"
last_action: "2021-04-07"
source: "openstates"
source_identifier: "ocd-bill/d184fcc5-664a-4382-94f6-914a3c3ae335"
source_url: "http://www.nmlegis.gov/Legislation/Legislation?chamber=S&legType=B&legNo=365&year=21"
source_hash: "a49bbf924ec0cb098bbdeb3eb75cf5597bdc99cb5b3b2047f9a9038121ffd93f"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-nm"]
---

# New Mexico SB 365 (2021) — ADJUSTABLE RATE MORTGAGE CHANGES

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Amendments in Context** (committee substitute) — [source](http://www.nmlegis.gov/Sessions/21%20Regular/Amendments_In_Context/SB0365.pdf)
2. **Final Version** (committee substitute) — [source](http://www.nmlegis.gov/Sessions/21%20Regular/final/SB0365.PDF)
3. **introduced version** (committee substitute) — [source](http://www.nmlegis.gov/Sessions/21%20Regular/bills/senate/SB0365.HTML)

## Sponsors

- Kernan, Gay G. — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2021-02-10** Sent to Senate Tax, Business and Transportation Committee & Senate Judiciary Committee `introduction, referral-committee`
- **2021-03-01** DO PASS committee report adopted `committee-passage-favorable`
- **2021-03-08** DO PASS, as amended, committee report adopted `committee-passage-favorable`
- **2021-03-10** passed Senate `passage`
- **2021-03-20** passed House `passage`
- **2021-03-11** Sent to House Commerce & Economic Development Committee `introduction, referral-committee`
- **2021-03-15** DO PASS committee report adopted `committee-passage-favorable`
- **2021-04-07** Signed `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/d184fcc5-664a-4382-94f6-914a3c3ae335`. Confidence: reported (aggregated from official New Mexico legislature records).