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Get Your Mortgage Loan Originator License in 2021!

 

Arkansas Pre-Licensing Education

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Starting at: $349 Now Only $239!

Use Promo Code: 20PEDEAL

 

 

Obtaining a mortgage license and becoming a mortgage loan originator involves a simple process in which you will need to complete your state-specific education requirements and take and pass a National exam. Once these two steps have been completed, you're well on your way to becoming a licensed Loan Originator!

 

How to Get Your MLO Mortgage License in Arkansas 

 

 

Step 1

     

Step 2

     

Step 3

 
 

Sign Up on NMLS Online

     

Take Required Classes

     

Pass the NMLS License Exam

 
 

Getting an Arkansas mortgage license starts with signing up for an NMLS account online and being assigned your ID number. Click here to go to NMLS Website.

     

To get your Arkansas MLO (mortgage loan originator) license, you’ll need to take 20 hours of NMLS-approved mortgage originator classes.

     

Once you successfully complete your classes, schedule a time and date to take your National Test Component exam. See how.

 
 

Step 4

     

Step 5

     

Step 6

 
 

Order a Criminal Background Check and Fingerprinting

     

Complete an Arkansas Mortgage License Application

     

Connect Your NMLS Account and Employer

 
 

When you pass your Arkansas mortgage loan officer license exam, you’ll also need to get the required background checks, a simple process explained here.

     

With the above steps complete, you will fill out and turn in the final application, explained here.

 

     

Your mortgage officer license will start in a “Pending” status. You must show that an employer is supervising you. Connect your NMLS account with your employer through these steps.

 

 

The Benefits of an NMLS License in AR

When you start working as a licensed Arkansas mortgage officer, you’ll gain instant status in your community. People will come to you during major transitions in their lives, such as buying a new home, a vacation home, or an investment property. Plus, these are usually responsible, successful, interesting people to work with.

You’ll constantly be learning as an MLO. There are several steps to getting your license, but Mortgage Educators is committed to helping you complete your classes and get through the process fast. Get an AR education bundle, and you’ll be close to a successful, well-paying career.

 

Arkansas Mortgage License Education Requirements

The NMLS-approved education in Arkansas is split into 20 hours:

  • 3 hours on ethics, fraud, consumer protection, and fair lending

  • 3 hours of Federal regulations and laws

  • 12 hours on electives

  • 2 hours on non-traditional lending

 

Remember, you don’t have to figure out how to take these classes alone. Instead, you can get a convenient, low-cost bundle of classes from Mortgage Educators, which even includes test preparation resources designed to raise your test scores.

 

What's the Difference Between an Arkansas Mortgage Broker License and an Arkansas Loan Officer License?

An Arkansas mortgage broker license is often used by a whole business with several employees. On the other hand, an Arkansas loan officer license is the type you’ll pursue to become a working MLO. You’ll get it sponsored by an employer to activate it.

 

Cost of Getting Your Mortgage License in Arkansas

When you go through the steps to get your license, you’ll pay non-refundable fees, including:

  • NMLS Processing Fee: $30

  • AR Application Fee: $50

  • Credit Report: $15

  • Criminal Background Check: $36.25

 

PE Expiration Policy in Arkansas

This policy says that the 20 hours of NMLS-approved education you took can expire after 3 years if you:

1. Leave the industry and let your license lapse OR

2. Never apply for a license after taking classes

However, this policy is not yet enacted in AR (as of this writing).

 

Arkansas Continuing Education Requirements

When you work under an Arkansas mortgage license, you’ll need to take continuing education classes each year to renew your license. In Arkansas, you’ll need to take 8 hours, divided into:

  • 2 hours on ethics

  • 2 hours on non-standard loans

  • 3 hours on federal regulations

  • 1 hour on an elective

 

The renewal fee is $50, and the reinstatement fee is an additional $50. It is recommended that you turn in an application for license renewal by November 1, even though the official deadline is December 31. If the state agency does not approve your renewal by December 31, you will not be authorized to work on January 1 and beyond while you wait for approval.

 

Start Your Arkansas Mortgage License Education Today

You can get a convenient Arkansas education bundle from Mortgage Educators to help you get your first mortgage license fast—or to renew your license. Take the first steps toward a successful career now.

Additional Questions?

Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Arkansas mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.

 

 

 

 

Arkansas Mortgage Education Pre-Licensing