The General Assembly in Arkansas made some changes to the Fair Mortgage Lending Act effective July 31, 2007. Most of these changes were made to give the Commissioner at the Securities Department authorization to implement a multi-state automated licensing system. Examples of such authorization is the ability for the Commissioner to require background and fingeprint investigations for licensees and continuing education for loan officers wishing to renew a license. The Commissioner has not used this authority as of yet, but we can all assume that you will need to submit to a background and fingerprint investigation to get a license in the near future, and you will likely have to take continuing education to renew your loan officer licenses next year. More to come on this soon I’m sure.