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

Summary

The court held that the Arkansas Statutory Foreclosure Act permits an entity to satisfy its requirement of being authorized to do business in Arkansas through federal authorization, without obtaining an Arkansas certificate of authority. Fannie Mae's federal charter authorizes it to conduct mortgage business nationwide and therefore satisfies that requirement. Justice Hart, dissenting, would have required an Arkansas certificate of authority because federal law did not preempt Arkansas regulation.