Can I act as the Real Estate Agent and the Loan Officer in the same transaction?
Dual capacity is allowed in 44 states. This means that you can act as the Real Estate Agent on the sale of a home and at the same time be the mortgage Loan Officer on and be compensated on both sides of the transaction. Most states require that this Dual Capacity relationship must be disclosed to your client in writing. You can refer to the Approved Lenders Information section of the HTLA website for a listing of these states.
Related Questions
- If a real estate agent wanted to complain about practices of a particular loan officer/mortgage broker, how would she or he go about doing that? Is there a formal procedure or a form to fill out?
- I am a mortgage broker and a real estate agent wants to come and work for me as a loan officer. Can they be a loan officer and a real estate agent on the same transaction?
- Can I act as the Real Estate Agent and the Loan Officer in the same transaction?
