Can you be a MLO and a Real Estate Agent on the same transaction?

Question

Curious to know if you can be an MLO and Real Estate Agent both Independently and also on the same transaction. I just want to know if it's legally possible. There's and FHA document from Dec 2022 that allows for RE Agents to also Originate and FHA Loan. Does anyone on here do both? Independently and also on the same transaction?

Trevor Schmitt · Answer

Which state is the transaction in? The laws are different state-by-state. Where I am located in ND, you can hold both licenses, but you cannot represent a client as a lender and agent on the same transaction.

Erik Estrada · Answer

You can do both but it's not worth the amount of work, unless you have an LOA, processor and a TC for your real estate deal.

Can you be a MLO and a Real Estate Agent on the same transaction?

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