Mortgage licensing / Arkansas

Arkansas Combination of Mortgage Broker, Mortgage Banker and/or Mortgage Servicer Licenses

company licence · NMLS ARBANKRBROKR_C · SEC

Requirements (23)

1. Step 1

   Financial Statements: Please see the License Requirements and Fees Chart on the NMLS Resource Center.

2. Step 2

   Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name,” “Assumed Name,” "Fictitious Name," or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). Arkansas Securities Department does not limit the number of other trade names. If operating under an “Other Trade Name,” upload Arkansas Secretary of State registrations documents regarding ability to do business under that trade name. This document should be named [State-License Type] Trade Name – Assumed Name. Note: It is the applicant’s responsibility to ensure that all names are properly registered with the Arkansas Secretary of State and with the required municipality or government agency, if applicable.

   Submitted via: Upload in NMLS: under the Document Type Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1).

3. Step 3

   Resident/Registered Agent: The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1).

   Submitted via: NMLS

4. Step 4

   Primary Contact Employees: The following individuals must be entered into the Contact Employees section of the Company Form (MU1). • Primary Company Contact • Primary Consumer Complaint Contact

   Submitted via: NMLS

5. Step 5

   Qualifying Individual: “Managing principal” means a person who meets the requirements of Ark. Code Ann. § 23-39-508 and who agrees to be primarily responsible for the operations of a licensed mortgage broker, mortgage banker, or mortgage servicer. This individual must be listed in the Qualifying Individual section of Company Form (MU1).

   Submitted via: NMLS

6. Step 6

   AML/BSA Policy: Upload the most recent version of Anti-Money Laundering (AML) / Bank Secrecy Act (BSA) Policy and the most recent Independent Review of the AML/BSA Program. AML/BSA Policy This document should be named AML/BSA Policy [approval date mm-dd-yyyy]. Independent Review of AML/BSA Program This document should be named AML/BSA Policy Independent Review [review date mm-dd-yyyy].

   Submitted via: Upload in NMLS: under the Document Type AML/BSA Policy in the Document Uploads section of the Company Form (MU1).

7. Step 7

   Business Plan: Upload a business plan outlining the following information: • Marketing strategies • Products • Target markets • Fee schedule • Operating structure the applicant intends to employ. This document should be named [Company Legal Name] Business Plan. Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. A company should only upload a single business plan. If state-specific material is required, this information should be added to the existing uploaded business plan.

   Submitted via: Upload in NMLS: under the Document Type Business Plan in the Document Uploads section of the Company Form (MU1).

8. Step 8

   Certificate of Authority/Good Standing Certificate: Upload a State-issued and approved document (typically by the Secretary of State’s office), dated not more than 60 days prior to the filing of the application through NMLS that demonstrates authorization to do business in the applicant’s state of formation and the Arkansas Secretary of State’s office. This document should be named [[State prefix] Certificate of Authority OR [State prefix] Certificate of Good Standing].

   Submitted via: Upload in NMLS: under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1).

9. Step 9

   Company Staffing and Internal Policies: Upload document(s) including information on staffing and internal organizational policies and procedures. If submitting multiple policies, upload and name each policy separately. The document must include the following information: • Physical security policy designed to ensure the confidentiality, integrity, and availability of physical records and information. This document should be named [Name of Policy].

   Submitted via: Upload in NMLS: under the Document Type Company Staffing and Internal Policies in the Document Uploads section of the Company Form (MU1).

10. Step 10

    Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments, thereto including a list of any name changes. Sole Proprietor • No formation documents are required for Sole Proprietors. Additional documents may be requested after the review of the Business Plan. Unincorporated Association: • By-Laws or constitution (including all amendments). General Partnership: • Partnership Agreement (including all amendments). Limited Liability Partnership: • Certificate of Limited Liability Partnership; and • Partnership Agreement (including all amendments). Limited Partnership: • Certificate of Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Limited Partnership: • Certificate of Limited Liability Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); • IRS Form 2553 or IRS Form 8832 if S-corp treatment elected; and • LLC resolution if authority not in operating agreement. Corporation: • Articles of Incorporation (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; • IRS Form 2553 if S-corp treatment elected; and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable. Not for Profit Corporation • Documents requested of a Corporation; and • Proof of nonprofit status • Internal Revenue Service (“IRS”) 501(c)(3) designation letter; or • statement from a State taxing body or the State attorney general certifying that: (i) the entity is a nonprofit organization operating within the State; and (ii) no part of the entity’s net earnings may lawfully benefit any private shareholder or individual; or • entity's certificate of incorporation or similar document if it clearly establishes the nonprofit status of the applicant; or • Any of the three preceding items described, if that item applies to a State or national parent organization, together with a statement by the State or parent organization that the applicant is a local nonprofit affiliate. Trust (Statutory) • Certificate of Trust; and • Governing instrument (all amendments).

    Submitted via: Upload in NMLS: under the Document Type Formation Document in the Document Uploads section of the Company Form (MU1). This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)].

11. Step 11

    Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). This document should be named [Company Legal Name] Management Chart. Note: If the existing uploaded management chart already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: under the Document Type Management Chart in the Document Uploads section of the Company Form (MU1).

12. Step 12

    Organizational Chart/Description: Submit a chart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%) • Indirect Owners • Subsidiaries and Affiliates of the applicant/licensee This document should be named [Company Legal Name] Organizational Chart – Description. Note: If the existing uploaded Organizational Chart/Description already includes the above information, an additional document does not need to be uploaded. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: under the Document Type Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).

13. Step 13

    MLO License Sponsorship: If the business plan includes retail origination, then submit a sponsorship request for one or more mortgage loan officer applications.

14. Step 14

    Electronic Surety Bond: Electronic Surety Bond via NMLS in the amount of $100,000 furnished and submitted by a surety company authorized to conduct business in Arkansas. See the ESB Adoption Table and the ESB for NMLS Licensees page of the NMLS Recourse Center for more information. Note: Surety bonds submitted via the Document Uploads section will not satisfy this requirement.

    Submitted via: Electronic Surety Bond in NMLS

15. Step 15

    Information Security/Cybersecurity Policy: Upload the most recent version of your company’s Information Security/Cybersecurity Policy. Companies are encouraged to review guidance for the Safeguards Rule on the Federal Trade Commission’s (FTC) website prior to the submission of the Information Security/Cybersecurity Policy to ensure full compliance with information security regulations. Below are the components of the policy that must be addressed for a new license application: • Designated Individual – Designate an individual (e.g. Chief Information Security Officer) that is qualified to implement and supervise the information security program. • Reporting to Board/Management – The Designated Individual must report in writing regularly – and at least annually – to the Board of Directors or other governing body. If your company does not have a Board or its equivalent, the report must go to a senior officer responsible for the information security program. • Risk Assessment – Conduct a risk assessment to determine foreseeable risks and threats – internal and external – to the security, confidentiality, and integrity of customer information. • Safeguards – Design and implement safeguards to control the risks identified through the risk assessment. • Monitor and Test – Requires regular monitoring and testing to determine the effectiveness of your safeguards. • Training – Provide employees with security awareness training and schedule regular ongoing training. • Monitor Service Providers – Ensure that any service providers used are qualified and that they maintain appropriate controls to safeguard consumer information. • Periodic Updates – Keep the information security program current. • Incident Response Plan – Requires a written incident response plan to address any potential security event. • Notification of Information Security Event – The Department and the FTC must be notified in the event of a qualifying information security incident. • Business Continuity Plan – Requires a written business continuity and disaster recovery plan.

    Submitted via: Upload in NMLS: under the Document Type Company Staffing and Internal Policies in the Document Uploads section of the Company Form (MU1).

16. Step 16

    Disclosure Questions: Provide a complete and detailed explanation and document upload for each “Yes” response to Disclosure Questions made by the company or related control persons (MU2). See the Company Disclosure Explanations Quick Guide for instructions.

    Submitted via: Upload in NMLS in the Disclosure Explanations section of the Company Form (MU1) or Individual Form (MU2).

17. Step 17

    Credit Report: Qualifying Individuals are required to authorize a credit report through NMLS. Individuals will be required to complete an Identity Verification Process (IDV) along with an individual attestation before a license request for your company can be filed through NMLS. This authorization is made when the Individual Form (MU2) is submitted as part of the Company Form (MU1).

    Submitted via: NMLS

18. Step 18

    MU2 Individual FBI Criminal Background Check Requirements: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement. Note: If you are able to ‘Use Existing Prints’ to process the FBI criminal background check, you DO NOT have to schedule an appointment. NMLS will automatically submit the fingerprints on file.

    Submitted via: NMLS

19. Step 19

    Financial Statements for Covered Institutions: A covered institution shall annually procure an external audit, including audited financial statements and audit reports that shall include: • Annual financial statements, including a balance sheet, income statement, cash flows, notes and supplemental schedules prepared in accordance with GAAP; • Assessment of the internal control structure; • Computation of tangible net worth; • Validation of mortgage servicing rights valuation and reserve methodology; • Verification of adequate fidelity and errors and omissions insurance; • Testing of controls related to risk management activities, including compliance and stress testing, as applicable. A covered institution shall maintain the Federal Housing Finance Agency's Eligibility Requirements for Enterprise Single-Family Seller/Servicers for minimum capital ratio, net worth, and liquidity whether or not the mortgage servicer is approved for government sponsored enterprise servicing. Note: Written policies and procedures shall be maintained for implementing the capital and servicing liquidity requirements including a sustainable written methodology for satisfying these requirements.

    Submitted via: NMLS

20. Step 20

    Board of Directors for Covered Institutions: A covered institution shall establish and maintain a board of directors responsible for oversight of the covered institution. The board of directors shall: • Establish a written corporate governance framework, including appropriate internal controls designed to monitor corporate governance and assess compliance with the corporate governance framework; • Monitor and ensure institutional compliance with the Fair Mortgage Lending Act, Ark. Code Ann. § 23-39-501-523 including without limitation compliance with the general statutes and accurately and timely complete and submit regulatory requirements, including filing the mortgage call report; and • Establish internal audit requirements appropriate for the size, complexity, and risk profile of the servicer, with appropriate independence to provide a reliable evaluation of the servicer's internal control structure, risk management, and governance.

    Submitted via: NMLS

21. Step 21

    Risk Management Program for Covered Institutions: A covered institution shall establish a risk management program under the oversight of the board of directors that identifies, measures, monitors, and controls risk commensurate with the complexity of the servicer. The risk management program shall have appropriate processes and models in place to measure, monitor, and mitigate financial risks and changes to the risk profile of the servicer and assets being serviced. Such risks shall include, but are not limited to Credit Risk, Liquidity Risk, Operational Risk, Market Risk, Compliance Risk, Legal Risk, and Reputation Risk. Note: A risk management assessment shall be conducted annually and shall include a written report to the board of directors. It shall include evidence of risk management activities, any adverse findings relating to the institution’s risk management program, and proposed corrective actions needed to remedy any findings noted.

    Submitted via: NMLS

22. Step 22

    Non-Primary Contact Employees: Arkansas requires that an individual(s) be identified as a Non-Primary Contact for the following Area(s) of Responsibility. These contacts must be listed in the Contact Employee Information section of the Company Form (MU1) and include Arkansas under State(s). • Licensing • Legal • Exam Contact • Consumer Complaint (Public) • Consumer Complaint (Regulator)

    Submitted via: NMLS

23. Step 23

    Control Person (MU2) Attestation: Complete the Individual Form (MU2) in NMLS. This form must be attested to by the applicable control person before it is able to be submitted along with the Company Form (MU1).

    Submitted via: NMLS

General information

Other Arkansas mortgage licenses

• Combination Mortgage Banker-Broker-Servicer License
• Mortgage Banker License
• Mortgage Banker License
• Mortgage Broker License
• Mortgage Broker License
• Mortgage Loan Officer License
• All 9 Arkansas licenses

Sourced from the NMLS/CSBS state licensing record, last updated July 25, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.