The Arkansas Securities Department (Department) is using the CSBS/AARMR Nationwide Mortgage Licensing System and Registry (NMLS) for licensing of mortgage brokers, bankers, servicers, and loan officers. NMLS, developed through the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR), will allow a licensee to conveniently manage its mortgage license(s) in an electronic format through a secure website.
Starting January 25, 2010, all new applicants for a mortgage loan officer license must request a federal criminal background check and provide finger prints to NMLS. Starting July 31, 2010, the Department will not grant a new loan officer license to any applicant until the results from the federal criminal background have been received and reviewed by the Department. Starting November 1, 2010, the Department will not grant a renewal of a loan officer license until the results from the federal criminal background have been received and reviewed by the Department. Full information concerning the federal criminal background check can be found in the NMLS and at the NMLS Resource Center under "Professional Requirements."