Can You Hold A Loan Officer & Real Estate Agent License?
I've had this question on my mind for quite awhile and need to put it out there.
I'm currently a full-time mortgage loan officer at a local bank here in Ames, Iowa. I gained my degree through the University of Northern Iowa where, upon graduation you only have to take the ethics part of the agents requirements and the final test to become a registered real estate salesperson agent. So why not, right?
My question: may I be a mortgage loan officer and hold my real estate license at the same time? I will never put those license to work in the same deal but need to know if this is legal?
I would imagine selling a couple houses a year (there's a great opportunity I can discuss later with guaranteed listings), and having the borrower get financing through another bank in town, while still maintaining my normal day job. Again, never providing financing on the same transaction that I would be representing as an agent.
Please let me know what you think!