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Loan Officer
License Description Loan Officer means an individual who for compensation as an employee of a mortgage broker or a mortgage banker solicits or offers to solicit applications, accepts or offers to accept applications, negotiates or officers to negotiate, issues or offers to issue mortgage loan commitment or interest rate guarantee agreement, or provides or offers to provide modification for mortgage loans. Requirements: 1) Must submit an application. 2) Must be at least 18 years of age. 3) Must have received a high school diploma or a general education development certificate (GED). 4) Must be employed by a licensed Mortgage Broker or Mortgage Banker. 5) Criminal background check with fingerprints required. 6) Credit Report review with authorization required. 7) Must have completed 20 hours of required educational and testing requirements. Written National Exam required. Initial filing fee: $50.00, Renewal filing fee: $50.00
Licensing Agency
Arkansas Department of Commerce
1 Commerce Way, Suite 402
Little Rock, AR 72202-2086
(501) 324 9260
asdinfo@arkansas.gov
Active Status Active
Active Military/Veterans A temporary license is available to military and spouses until formal license approval
Criminal Record No criminal record prohibitions
Education Degree required
Exam State exam required
License Type Register with licensing agency
License Updated 06/28/2022
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