Robert Dickinson and Pamela Dickinson, for Themselves and All Residents of Arkansas Who Are Similarly Situated…

Summary

The court answered a certified question by holding that the statutory requirement that an entity be "authorized to do business" in Arkansas permits authorization under federal law and does not require an Arkansas certificate of authority. It further held that Fannie Mae's federal charter authorizes it to conduct mortgage-related business without regard to state qualification statutes, satisfying the requirement for use of Arkansas's statutory foreclosure procedures. Justice Josephine Linker Hart dissented, arguing that Arkansas law requires a state certificate of authority because federal law did not preempt that regulation.