Arkansas Servicing Reference Guide

Citation	Topic	Requirement
Ark. Code Ann. §18-50-106	Affidavit Prior to Sale	On or before the date the mortgagee or trustee conducts the sale, a duly acknowledged affidavit of mailing and publication of the notice of default and intention to sell shall be filed for record with the recorder of the county in which the trust property is situated.
Ark. Code Ann. §18-50-114(b)	Curing Default	(b) If the default is cured and the mortgage or deed of trust reinstated in the manner provided in this section, the mortgagee, beneficiary, or their successors in interest shall file for record with the recorder of the county in which the trust property is situated a duly acknowledged cancellation of the recorded notice of default and intention to sell under such mortgage or deed of trust.
Ark. Code Ann. §18-50-112(a)	Deficiency Judgment - Non-Judicial	(a) (1) At any time within twelve (12) months after a sale under this chapter, a money judgment may be sought for the balance due upon the obligation for which a mortgage or deed of trust was given as security. (2) In such action, the plaintiff shall set forth in his or her complaint, and shall have the burden of proving, the entire amount of indebtedness which was secured by the mortgage or deed of trust, the amount for which the trust property was sold, and the fair market value of the trust property at the date of sale, together with interest from the date of sale, costs, and attorney's fees. (b) Judgment shall not exceed the lesser of the following: (1) The amount for which the indebtedness due at the date of sale, with interest from the date of sale, costs, and trustee's and attorney's fees, exceeds the fair market value of the trust property; or (2) The amount for which the indebtedness due at the date of sale, with interest from the date of sale, costs, and trustee's and attorney's fees, exceeds the amount for which the trust property was sold.
Ark. Code Ann. §18-50-109	Distribution of Proceeds of Sale	The trustee or mortgagee shall apply the proceeds of the sale as follows: (1) To the expenses of the sale, including compensation of the trustee or mortgagee and a reasonable fee by the attorney; (2) To the indebtedness owed; (3) To all persons having recorded liens subsequent to the interest of the trustee or mortgagee as their interests may appear in the order of the priority; and (4) The surplus, if any, to the grantor of the trust deed or to the successor in interest of the grantor entitled to the surplus.
Fair Mortgage Lending Act / Ark. Rule 5010-1(a)	First Payment Instructions	Payment instructions for new loans must be issued in time to reasonably assure receipt by the customer at least 15 days before the first payment is due.
Public Utilities and Regulated Industries / Ark. Code Ann. §23-66-315(a)	Insurance Information Sharing Consent	If a borrower is required to maintain insurance and to furnish evidence of the insurance to a lender as a condition for obtaining or keeping a loan, the lender is prohibited from disclosing to other persons or parties, directly or indirectly, information with respect to the expiration dates of the insurance or other insurance policy information so as to enable any person or party to solicit the insurance or any renewal of the insurance, without first obtaining the borrower's written consent.
Real Property Laws / Ark. Code Ann. §18-50-104(a) §18-50-105	Notice of Default and Intention to Sell	(a) The trustee or mortgagee may not sell the trust property unless: (1) The mortgagee, trustee, or beneficiary has filed for record with the recorder of the county in which the trust property is situated a duly acknowledged notice of default and intention to sell containing the information required by subsection (b) of this section; (2) A period of at least sixty (60) days has elapsed since the recording of the notice of default and intention to sell; and (3) (A) (i) The beneficiary or mortgagee has certified to its trustee or attorney-in-fact under § 18-50-102 that each mortgagor, grantor, or obligor who applied for loan modification or forbearance assistance has been notified that the mortgagor, grantor, or obligor does not meet the criteria for loan modification or forbearance assistance under any program offered by: (a) The beneficiary or mortgagee; or (b) A government agency if the beneficiary or mortgagee participates in the government agency's program. (ii) The notice shall be sent to the property address or mailing address of the mortgagor, grantor, or obligor by certified and first-class mail at least ten (10) business days before the sale. (B) The duties of the beneficiary or mortgagee under subdivision (a)(3)(A) of this section are not delegable to the beneficiary's trustee or the mortgagee's attorney-in-fact. The mortgagee or trustee shall publish the notice: (1) In a newspaper of general circulation in the county in which the trust property is situated or in a newspaper of general statewide daily publication one (1) time a week for four (4) consecutive weeks prior to the date of sale. The final publication shall be no more than ten (10) days prior to the sale; (2) By employing a third-party posting provider to post notice at the place at the county courthouse where foreclosure sales are customarily advertised and conducted; and (3) By employing a third-party Internet foreclosure sale notice information service provider.
Ark. Code Ann. §16-59-101	Notice of Pendency	To render the filing of any suit at law or in equity in either a state court or United States district court affecting the title or any lien on real estate or personal property constructive notice to a bona fide purchaser or mortgagee of any such real estate or personal property, it shall be necessary for the plaintiff or any one (1) of the plaintiffs, if there is more than one (1) plaintiff, or his or her attorney or agent to file a notice of the pendency of the suit, for record with the recorder of deeds of the county in which the property to be affected by the constructive notice is situated.
Real Property Laws / Ark. Code Ann. §18-49-104(c)	Notice of Sale	The mortgagee, trustee, or vendor must publish a notice of the sale 1 time, at least 10 days prior to the sale in a newspaper of general circulation published in the county where the property is located or, if this is not available, then in a newspaper of general statewide daily publication.
Fair Mortgage Lending Act / Ark. Rule 5010-1(c)	Notice of Servicing Transfer	A mortgage servicing licensee transferring the mortgage servicing rights under a mortgage loan must give the customer written notice of the transfer of servicing rights at least 15 days before the first payment is due and payable to the new servicer.
Ark. Code Ann. §18-50-107(e)	Post Sale Deed	(e) (3) Within ten (10) days after the sale, the mortgagee or trustee shall execute and deliver the trustee's deed or mortgagee's deed to the purchaser.
Ark. Code Ann. § 23-39-510	Servicer Licensing Notice	At the time a mortgage servicer accepts assignment of servicing 4 rights for a mortgage loan in this state, the mortgage servicer shall 5 disclose to the borrower a notice in a clear and conspicuous form and content that the mortgage servicer is licensed in Arkansas and that complaints about the mortgage servicer may be submitted to the commissioner.

Affidavit Prior to Sale

Curing Default

Deficiency Judgment - Non-Judicial

Distribution of Proceeds of Sale

First Payment Instructions

Insurance Information Sharing Consent

Notice of Default and Intention to Sell

Notice of Pendency

Notice of Sale

Notice of Servicing Transfer

Post Sale Deed

Servicer Licensing Notice