(a) Clerical or administrative tasks.

1. (1) “Clerical and administrative tasks” or “administrative or clerical tasks” as used in Arkansas Code §§ 23-39-502(9)(B)(i), 23-39-502(9)(B)(xvi), and 23-39-502(11)(B)(i), means activities generally associated with those traditionally performed by a clerk, administrative assistant, or secretary, including:

   1. (A) The keeping of books and records;
   2. (B) Handling of correspondence;
   3. (C) Transcription of documents;
   4. (D) Word processing;
   5. (E) Placing and receiving telephone calls;
   6. (F) Transmission and receipt of facsimiles; or
   7. (G) Other similar activities.
2. (2) These terms may include the receipt, collection, or distribution of information common with the processing or underwriting of a mortgage loan, and communication with a customer or borrower to obtain the information necessary for the processing or underwriting of a mortgage loan to the extent that the activity and communication does not include soliciting, accepting, or negotiating terms and conditions of a mortgage loan.

(b) Loan modification.

1. (1)

   1. (A) A person offering or negotiating loan modification services is, at a minimum, indirectly acting as a loan officer.
   2. (B) Therefore, any person who directly or indirectly solicits, accepts, or negotiates, or offers or attempts to solicit, accept, or negotiate loan modifications for a borrower, and receives compensation or gain is required to be licensed as a loan officer.
2. (2) Any person who directly employs or supervises individuals who solicit, accept, or negotiate, or offer or attempt to solicit, accept, or negotiate loan modifications for compensation or gain is required to be licensed as a mortgage broker.