When can a loan officer who is also a realtor work on the same transaction?

St. Petersburg, Florida
Mortgage Brokers & Lenders
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When can a loan officer who is also a realtor work on the same transaction?

Vince Le
Member since 2023 · 10 posts · 1 vote

Does a loan officer who is also a realtor should work under one broker only (broker offers both mortgage loan and real estate services) to be able to work on the same transaction legally?

Thank you

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  • Account Closed
    Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
    2y
    Quote from @Vince Le:

    Does a loan officer who is also a realtor should work under one broker only (broker offers both mortgage loan and real estate services) to be able to work on the same transaction legally?

    Thank you

    Ask your broker. Don't rely on "online" opinions for that kind of information. 
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  • Obed Calixte
    Real Estate Agent · St Petersburg, FL · Member since 2019 · 320 posts · 182 votes
    2y

    Leverage the Florida Realtors Legal Hotline

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  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y
    Quote from @Vince Le:

    Does a loan officer who is also a realtor should work under one broker only (broker offers both mortgage loan and real estate services) to be able to work on the same transaction legally?

    Thank you

    Here in CA, most brokerages offer both Real Estate and Mortgage services. Therefore the broker must be fully licensed with both the DRE and NMLS. 

    If you have both licenses you may originate a loan and work on the buy side. It is not very common though. 

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