The Lobos were coached by fourth-year head coach Steve Alford and played their home games at The Pit in Albuquerque, New Mexico.
The Lobos lost Senior Roman Martinez and freshman Darington Hobson, both averaged over 14 points a game.
Coach Alford agreed to a contract that would keep him at UNM till the year 2020.
"I want to be here as long as the University of New Mexico and the administration want me here," Alford said.
"It's a big-time commitment on both ends, and this contract proves that."