(d) The amount of the surety bond shall be:

1. (1) Mortgage broker and mortgage banker.

   1. (A) $100,000 bond. If the aggregate amount of originated or funded mortgage loans which are secured by Arkansas residential real property was no more than ten million dollars ($10,000,000) during the prior calendar year, mortgage broker or mortgage banker licensees shall post a surety bond in the amount of one hundred thousand dollars ($100,000).
   2. (B) $150,000 bond. If the aggregate amount of originated or funded mortgage loans which are secured by Arkansas residential real property was greater than ten million dollars ($10,000,000), but not more than twenty-five million dollars ($25,000,000), during the prior calendar year, mortgage broker or mortgage banker licensees shall post a surety bond in the amount of one hundred fifty thousand dollars ($150,000).
   3. (C) $200,000 bond. If the aggregate amount of originated or funded mortgage loans which are secured by Arkansas residential real property was greater than twenty-five million dollars ($25,000,000) during the prior calendar year, mortgage broker or mortgage banker licensees shall post a surety bond in the amount of two hundred thousand dollars ($200,000); and

2. (2) Mortgage servicer.

   1. (A) $100,000 bond. If the aggregate amount of mortgage loans which are secured by Arkansas residential real property held in the mortgage servicer licensee’s portfolio was no more than ten million dollars ($10,000,000) during the prior calendar year, mortgage servicer licensees shall post a surety bond in the amount of one hundred thousand dollars ($100,000).
   2. (B) $150,000 bond. If the aggregate amount of mortgage loans which are secured by Arkansas residential real property held in the mortgage servicer licensee’s portfolio was more than ten million dollars ($10,000,000), but not more than twenty-five million dollars ($25,000,000), during the prior calendar year, mortgage servicer licensees shall post a surety bond in the amount of one hundred fifty thousand dollars ($150,000).
   3. (C) $200,000 bond. If the aggregate amount of mortgage loans which are secured by Arkansas residential real property held in the mortgage servicer licensee’s portfolio was more than twenty-five million dollars ($25,000,000) during the prior calendar year, mortgage servicer licensees shall post a surety bond in the amount of two hundred thousand dollars ($200,000).

(e)

1. (1) If an increase in surety bond is required, the surety bond must be increased by March 31.
2. (2) Failure to maintain the proper surety bond amount shall be grounds for discipline under the Fair Mortgage Lending Act, Arkansas Code § 23-39-501 et seq.

(f)

1. (1) All licensees with surety bonds under Arkansas Code § 23-39-505(f), must ensure that the full amount of the surety bond is in effect at all times.
2. (2) In the event of reduction of the bond, the licensee shall have thirty (30) days to reinstate the bond to the level required by this part.
3. (3) Failure to maintain the surety bond at the level required in Arkansas Code § 23-39-505(f), and this part shall be grounds for disciplinary action in accordance with the Fair Mortgage Lending Act.