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

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:

• Arkansas Securities Department
• Phone: 501-324-9260
• Email: jay.drake@arkansas.gov
• Website: www.securities.arkansas.gov

NMLS Resources:

• Arkansas MLO License Description Page 
• Professional Standards: Mortgage Education 
• Professional Standards: Criminal Background Check
• Professional Standards: Credit Report
• Professional Standards: MLO Testing

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

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