Registered: 09/24/07
Posts: 105
Loc: california, U.S.
Hi, everyone! Can real estate brokers originate loans for the clients they sell the house at the same time? Not just the conventional loans but can they do FHA, VA, USDA loans as well? thanks.
#365495 - 02/02/1103:51 AMRe: Can real estate broker originate loans?
[Re: babmukja]
PalmBeach BPO
Veteran Member
Registered: 07/15/09
Posts: 752
Loc: usa
I just posted a similiar thread. No, you cannot be a licensed real estate agent and also be licensed mortgage originator and do loans for FHA/VA. Funny, this question is not on the NMLS Federal test, it should because very few know the answer.
#378123 - 06/05/1106:56 PMRe: Can real estate broker originate loans?
[Re: babmukja]
Alabama Homes
Member
Registered: 06/05/11
Posts: 146
Loc: Alabama
Actually in Alabama you can have a dual lic. and originate the mortgage loan. However you can not due FHA or VA because they do not allow the dual role.
I came from the Mortgage business and did both at first but once you get busy showing houses and such you will lose interest in the mortgage part.
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