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Arkansas Summary
Licensing Requirements
Loan Originator Licensing

Please complete the following form and send us a check request for $50. http://www.securities.arkansas.gov/flma_forms/mortgage_banker_broker_servicer/FMLA%20Form%20014.pdf

Branch Licensing

Please complete the following form and send us a check request for $100. http://www.securities.arkansas.gov/flma_forms/mortgage_banker_broker_servicer/FMLA%20Form%20006.pdf

Branch Managers will also need to complete the Loan Originator Licensing Form above.

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Disclosure Requirements

Initial Disclosures

Arkansas Attorney Selection Notice

Attorney/Insurance Preference Form

Arkansas Authorization to Disclose Insurance Information

Final Disclosures

Coming Soon

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High Cost Laws*
 
Points and Fees**
APR
1st
5%
8 + Treasury Yield Index
2nd
5%
10 + Treasury Yield Index
HELOC
5%
10 + Treasury Yield Index

*Does not apply to 1st purchases, loans over $150,000, or non-owner occupied properties
**Includes YSP as part of Fees Percentage unless retail

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Pre-Payment Penalty

Max 3 years and/or not to exceed the fixed rate term of ARMs.

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Fee Restrictions

Permitted Fees

Coming Soon

Prohibited Fees

Coming Soon

Late Charge Fees

Coming Soon

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Closing Details

Funding Settlement

Wet State

Borrower Signing Requirements

Arkansas in not a community property state.

Closing Customs

Coming Soon

Real Estate Taxes

Taxes are due September 1st
Taxes are delinquent on October 10th

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Advertising Details

Advertising Record Retention

Coming Soon

Advertising Representation

Coming Soon

Telemarketing

Comings Soon

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Disclaimer:
This information is tailored for DirectLender. It is deemed reliable but not guaranteed. It is not intended as legal advice, and should not be relied upon as such. The laws, policies, and references cited change periodically.

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