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Arkansas License Requirements

Get an understanding of mortgage lending and insurance state licensing and continuing education requirements

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Arkansas Mortgage License Requirements

Learn about the Arkansas mortgage education requirements for mortgage licensing.

In the state of Arkansas, mortgage loan originators are required to:

    1. Each new loan officer application is required to submit an application through a MU4 filing.
    2. Complete a Criminal Background Check (CBC).
    3. Authorize a credit report through the NMLS that demonstrates financial responsibility.
    4. Fulfill all state and federal education requirements as designated by your state agency.
    5. Take and pass both National Component and Arkansas State Component Tests.
    6. Surety Bond/Recovery Fund: Every mortgage loan originator must be covered under a surety bond or recovery fund.
    7. Have a high school diploma or GED certificate, and be at least eighteen (18) years of age.
    8. Submit information related to any administrative, civil, or criminal proceeding by a governmental jurisdiction.
    9. Provide authorization to obtain an independent credit report.

Arkansas NMLS Pre-Licensing Education Requirements:

New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:

  • 3 hours of federal law
  • 3 hours of ethics
  • 2 hours of non-traditional mortgage lending training
  • 12 hours of electives
Note: The Arkansas Department of Higher Education requires acknowledgement of an enrollment agreement. Please acknowledge the enrollment agreement.

Arkansas Continuing Education Requirements:

State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:

  • 3 hours of federal law
  • 2 hours of ethics
  • 2 hours of non-traditional mortgage lending
  • 1 hour of electives

MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.

Arkansas Mortgage Licensing:

NMLS Resources:

 

Refund Policy For Arkansas Residents

  1. If refund requests for online courses received via e-mail by OnCourse Learning within seventytwo (72) hours of the date of registration AND after the seventy-two (72) hours enrollment date, but prior to the course start date, students will be given a refund. No refunds or credits will be issued after one year from the date of purchase. All credits must be used within 12 months.
  2. In the case of students withdrawing after commencement of classes, the refund will be based on the percentage of contact hours attended, as described in the table below. The refund is based on the official date of termination or withdrawal.
    At completion of less than 25% of program 75% refund
    At completion of 25% but less than 50% of the program 50% refund
    At completion of 50% but less than 75% of the program 25% refund
    At completion of 75% or more of the program No refund
  3. If OnCourse Learning closes or discontinues any program, each currently enrolled student will be refunded monies paid by the student for tuition and NMLS Credit Banking Fee immediately.
  4. The date of withdrawal or termination is the date that the student has begun the official withdrawal process. A refund due to a student shall be paid within 30 days of the date of withdrawal.
  5. In order to officially request a refund/withdraw enrollment, student must notify OCL via email at support@oncourselearning.com if they are withdrawing from the course.

Arkansas Full Mortgage Course Catalog

Company Mission

OnCourse Learning helps both professionals and companies navigate regulatory training, certification and compliance requirements to ensure success and manage risk in their chosen profession. Utilizing real world professionals, subject matter experts and leading instructional designers, OnCourse Learning is focused on providing students with the most current and comprehensive curriculum in relevant and easy to understand formats. We help people get started and succeed in their chosen professions.

Schools Ownership

Adtalem Global Education Inc. is the owner of OCL Financial Services LLC DBA OnCourse Learning and is an e-learning partner that empowers companies and professionals to improve, achieve and aspire. For more than 40 years, OnCourse Learning has been delivering continuing education, pre-licensing and corporate training. The Financial Services sector within OnCourse Learning is a national leader in mortgage education. Our mission is to elevate and enrich the mortgage industry through its innovative compliance solutions and comprehensive educational programs. Customers and partners can choose from proven online campuses/sites to meet their personalized needs.

OnCourse Learning is an approved course provider to deliver pre-license education courses for professionals that meet the requirements of the Nationwide Mortgage Licensing System (NMLS).

OnCourse Learning Leadership and Faculty

LeadershipLisa W. Wardell, JD, MBA Chairman and Chief Executive Officer Adtalem Global Education

Mehul PatelGroup President, Financial ServicesAdtalem Global EducationBA University of Illinois

Administrative FacultyAllison Selbo Administrator, ComplianceOnCourse Learning BA Carrol University

Nafi GerberDirector of Sales OnCourse Learning BA Towson University

OnCourse InstructorsApril Brandimarte, Online Mortgage InstructorNMLS Licensed Loan Officer

Tania Walker, Online Mortgage Instructor BA, Business NMLS Licensed Loan Officer

Nancy Ballotta, Online Mortgage Instructor NMLS Licensed Loan Officer

School Facilities

Students may access their courses online immediately upon enrollment. Courses are accessible to students any time within the enrollment period. The administrative staff hours of operation are: Monday - Thursday, 8:30AM – 8:00PM EST; Friday, 8:30AM – 7:00PM EST; Saturday, 10:00AM – 2:00PM. Email support is available during normal business hours.

School Calendar

The OnCourse Learning staff office is closed for the following holidays: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas. On occasion, the administrative office may close early due to inclement weather or on the day before a holiday. When the office does close early, our phone system will be changed to announce the closure.

Admission and Enrollment

Students may enroll in our courses at any time by visiting our websites or calling our enrollment office at 877-878-3600.

All students must be at least 18 years of age and have either a high school diploma or its equivalent. Please note that some states have shorter time frames for completing courses. Contact your state licensing regulator to ensure that you have the most up-to-date information.

Most of our training is distance education where students can take courses at a location and setting of their choice. Our enrollment policy allows students access to the materials for courses within our Learning Management System for 1 year from the enrollment date.

Occasionally, OnCourse Learning may offer private live classroom education training at local mortgage loan company offices. Please see our website for up-to-date live education schedules at www.oncourselearning.com/mortgage.

All instructor led courses must be completed within the start and end date of the scheduled training.

Non-Discrimination Policy

OnCourse Learning does not discriminate against any student on the basis of gender, race, color, religion, sex, sexual orientation, national or ethnic origin, marital status, age or disability. Students are encouraged to use the student grievance policy on page 9 to resolve any perceived discriminatory action by other students, faculty or staff.

Programs Offered

20 Hour SAFE Comprehensive: Applying Mortgage Knowledge to Exam Preparation (Pre-licensing)

8 Hour SAFE: Protecting Borrowers Through Compliant Origination (Continuing Education)

Late CE: 8 Hour SAFE: Maintaining Mortgage Industry Awareness (Continuing Education)

Mortgage Exam Prep Suite-Platinum (Test Prep)

Mortgage Exam Prep Suite-Gold (Test Prep)

Program Tuition and Fees

Tuition Policy

OnCourse Learning does not charge a tuition, the student will pay for each program they would like to take. All students are required to pay for the program in full before they start the program. OnCourse Learning does not offer financial aid or any other type of financing. Program fee may be paid via credit cards: Visa, MasterCard, or American Express. A student contact OnCourse Learning at 877-878-3600 for direction on payment. If a student’s credit card transaction is charged back by the bank after a certificate of completion is issued, that certificate will be invalidated.

20 Hour SAFE Comprehensive Applying Mortgage Knowledge to Exam Preparation

Program Cost: $309, plus NMLS Credit Banking Fee is $30

Program Objective: This course meets the 20-hour pre-licensing (PE) education requirement for loan originators. Successful completion of this course should result in proficiency in the following topics as they pertain to the mortgage industry:

  • Federal Laws and Regulations
  • General Mortgage Industry Knowledge
  • Mortgage Loan Origination
  • Ethics in the Mortgage Industry

Successful completion of this course will also help to prepare mortgage professionals for the National Mortgage Loan Originator Test

20 Hour SAFE Comprehensive Applying Mortgage Knowledge to Exam Preparation

Program Cost: $139 for video; $129 for online self-paced, $188 for live webinar, plus NMLS Credit Banking Fee is $30

Program Objective: This mortgage continuing education course is NMLS-approved for the eight hours of continuing education required for mortgage loan originators to renew their mortgage license.

20 Hour SAFE Comprehensive Applying Mortgage Knowledge to Exam Preparation

Program Cost: $144, plus NMLS Credit Banking Fee is $30

Program Objective: This self-paced course is NMLS-approved for eight hours of continuing education required for mortgage loan originators and is intended to satisfy CE requirements for the last year a mortgage loan originator held an active license.

20 Hour SAFE Comprehensive Applying Mortgage Knowledge to Exam Preparation

Program Cost: $199

Program Objective: This online Exam Prep Suite includes Prep xL Personalized Learning, a sophisticated mortgage exam prep tool for anyone that is preparing to take their mortgage license exam. NOTE: This is not an NMLS credited course and will not satisfy the pre-license education requirements.

20 Hour SAFE Comprehensive Applying Mortgage Knowledge to Exam Preparation

Program Cost: $169

Program Objective: This online mortgage license package is designed for individuals who have some experience in the mortgage industry and need to pass the NMLS mortgage license exam. NOTE: This is not an NMLS credited course and will not satisfy the pre-license education requirements.

Refund Policy for Arkansas Residents

  1. If refund requests for online courses received via e-mail by OnCourse Learning within seventytwo (72) hours of the date of registration AND after the seventy-two (72) hours enrollment date, but prior to the course start date, students will be given a refund. No refunds or credits will be issued after one year from the date of purchase. All credits must be used within 12 months.
  2. In the case of students withdrawing after commencement of classes, the refund will be based on the percentage of contact hours attended, as described in the table below. The refund is based on the official date of termination or withdrawal.
    At completion of less than 25% of program 75% refund
    At completion of 25% but less than 50% of the program 50% refund
    At completion of 50% but less than 75% of the program 25% refund
    At completion of 75% or more of the program No refund
  3. If OnCourse Learning closes or discontinues any program, each currently enrolled student will be refunded monies paid by the student for tuition and NMLS Credit Banking Fee immediately.
  4. The date of withdrawal or termination is the date that the student has begun the official withdrawal process. A refund due to a student shall be paid within 30 days of the date of withdrawal.
  5. In order to officially request a refund/withdraw enrollment, student must notify OCL via email at support@oncourselearning.com if they are withdrawing from the course.

Attendance and Grading Policy

In order to get credit for our courses, you must complete 100% of the course (a 100% attendance rate.)

We do offer course extensions for missed time when a student hardship has occurred. OnCourse Learning will allow one session change for medical emergencies.

Students must take and pass with a score of at least 70%, a final exam based on the information presented throughout the course. The final exam will not become available until all required assignments have been graded and approved by the instructor.

Students must successfully complete all required reading, course assignments, quizzes, and the final exam in order for course credit and a completion certificate to be issued. If the final assessment is not passed on the first attempt, additional attempts will be permitted.

Completion certificates/transcripts will be distributed through the student’s profile once course completion and attendance has been evaluated and verified by the Compliance Department. Due to the nature of our enrollment period, a leave of absence does not necessarily apply.

Student Progress

OnCourse Learning’s distance education is an innovative approach that is entirely user-driven with a platform that allows learners to progress at their own pace.

All distance education is timed. Students are required to spend no less than the minimum time indicated on each page of instruction. Students will not be permitted to move forward to the next page before this timing requirement is met.

Each module consists of one to three quizzes presented in open review format and scored format. You must pass all module quizzes in scored format with a minimum of 70% prior to the next module becoming available. Your instructor will post assignments throughout the course on the specific day noted in the course schedule presented on your course homepage that you are required to complete. Your instructor will post feedback on your assignment typically within one business day. You will receive a notification if your assignment is accepted or rejected. You can access the instructor feedback by returning to the assignment in the Table of Contents of your course. You may progress to the next activity once your assignment is submitted; however, if your assignment is rejected you must resubmit the assignment to progress further in your course and all assignments must be satisfactorily accepted to successfully complete the course and have your course reported to NMLS. Your instructor will post discussion forum assignments throughout the course. You will be required to post relevant and thoughtful comments to the discussion forum in response to the instructor post. Upon completion of all course activities and satisfying the time requirement, the final examination will become available. The final examination is only available in scored format and must be passed with a minimum of 70%.

To complete the course and receive your certificate (transcript), you must successfully:

  • Complete all instructional lessons and exercises.
  • Meet the timing requirement of each lesson.
  • Pass a twenty-five (25) question final examination with a 70% or higher – if the exam is not passed on the first attempt, additional attempts will be permitted.

Student Conduct and Dismissal

Students are expected to act in a manner that will reflect well on themselves, the school, and the Nationwide Mortgage Licensing System (NMLS) while taking part in online instructor-led courses. Students should actively participate in the course by using all available methods of communication with the instructor and fellow students. Although students participate in class remotely, the online instructor-led format should be treated like a live class in terms of establishedstart and end dates/times and required activities. Students are expected to respect the rights of the instructor and fellow students. Students should refrain from using offensive or abusive language during real-time, online discussions and may not post offensive or abusive comments or material to class Message Boards. Students must also refrain from introducing any non-course related content or information to discussions. Participants will be provided with instructor contact information for questions or comments and are encouraged to discuss non-course topics with other participants “off-line.”

Even though we are an online only school, the school retains the authority, at its sole discretion, to impose immediate termination of any student for miss-conduct when the school deems appropriate.

OnCourse Learning does not discriminate on the basis of race, color, sex, religion, national origin, disability, or familial status in the establishment of fees, entrance qualifications, or standards forsuccessful completion of any course.

Student Grievance Policy

OnCourse Learning encourages open and direct communication. If a student has a complaint or disagreement regarding any course or instructor, she/he should go directly to the instructor outside of class time to discuss the situation. If this does not result in resolution, the student should address the issue in writing to the School Director.

Should this procedure fail, students may contact:

Placement Assist

OnCourse Learning does not provide assistance to students in arranging interviews with potential employers. Current law prohibits any school from guaranteeing job placement as an inducement to enroll students.

Student Files

OnCourse Learning maintains student records for a minimum of 5 years. Students have the right to access their school records or transcripts. If you would like access to your records, you may contact our Customer Service department at 800-229-2207 or via email at fs@oncourselearning.com to request a copy. OnCourse Learning will not release any student’s record without prior written consent of the student and only in compliance with the Family Educational Rights and Privacy Act (FERPA).

Student Support

Course instructors are available to respond to questions via email Monday-Friday, 8AM-6PM (CT): mortgageinstructor@oncourselearning.com

You can also contact Tech Support by calling 877-878-3600 or emailing support@oncourselearning.com . The hours of operation are 7:30 AM to 7:00 PM (CT) Monday through Friday. Email support is available during normal business hours. Email received after normal business hours will be answered the next business day. Before you call, please be prepared to explain your problem in detail and have access to your computer. To effectively troubleshoot your issue, our technicians will begin by asking you a series of questions regarding your operating environment. They will need to know what type of computer you are using, the operating system, and the version number of any associated software. Your calls may be documented or monitored to help us maintain quality of service standards.

SYSTEM REQUIREMENTS

  • For Windows PC:
    • Internet connection (minimum 56Kbps required, although we highly recommend a highspeed connection such as DSL, cable, or T1)
      • Intel® Pentium® III 1GHz or faster processor, Intel® Pentium® 4 2GHz or faster
      • Microsoft® Windows® XP, Windows® Vista®, or Windows® 7
      • 512MB of RAM (1GB recommended)
    • Printer (for course documentation and student affidavit)
  • For Mac OS:
    • Intel Core™ Duo 1.83GHz or faster processor
    • Mac OS X v10.5 or v10.6
    • 512MB of RAM (1GB recommended)
  • Downloads
    • The following are free downloads required in order to use the Showcase player.
      • Adobe Acrobat Reader 5.0 or greater
      • Flash Player plug-in
      • Adobe AIR
      • Microsoft Internet Explorer 7 or greater (OnCourse Learning does not support any beta versions of Internet Explorer)
  • OnCourse Direct System Requirements
    • Web Browser
      • Microsoft Internet Explorer 8 or greater
      • Chrome Version 15 or later
      • Firefox Version 3.6 or later
      • Safari 6.2 or later
    • Minimum Screen Resolution
      • 1024px X 768px
    • Additional Notes
      • OnCourse Learning recommends at least 512MB of available memory at each workstation.
      • A minimum screen resolution of 1280px X1024px is required to utilize the Artisan Authoring Tool.
      • For multi-media courses, sound is required for optimal viewing.
      • Content providers may require additional browser plug-ins and may have different workstation requirements that would be above and beyond the minimum workstation requirements necessary to run the learning management system.
      • All of our outbound emails come from the dedicated IP of 198.2.179.70. If our system emails are flagged as spam, please add an exception to your filter.
    • Network Security
        IP Address List
      • 66.150.9.234
      • 66.151.15.205
      • 69.20.10.123
      • 192.222.0.131
      • 198.2.179.70
        Domain Name List
      • *.betraining.com
      • Port 80 for HTTP
      • Port 443 for HTTPS
        Network Overview
      • OCD can be accessed through either HTTP or HTTPS protocols based on customer needs.

Disclosures
OCL Financial Services LLC makes no representations except as expressly set forth in this catalog, and under no circumstances does OCL Financial Services LLC make any claim, promise, or guarantee for employment or state licensure. OCL Financial Services LLC reserves the right to change courses, start dates, tuition, and to cancel courses. Any changes will be made in accordance with the Nationwide Multilicence Licensing System (NMLS) rules and regulations. The information contained in this catalog is true and correct to the best of OCL Financial Services LLC’s knowledge.