Can Realtors Be Loan Officers And Real Estate Agents At Same Time?
This BLOG Can Realtors Be Loan Officers And Real Estate Agents At Same Time Was UPDATED On August 24, 2017
Real Estate Agents are licensed professionals who are licensed to represent home buyers and home sellers.
- The best real estate agent is one who is knowledgeable not just in showing homes or listing properties, but has extensive knowledge in all areas of real estate.
- Top realtors have knowledge of the neighborhoods and areas they represent, comparable sales, title issues, zoning, legal issues, and last but not least have general knowledge in mortgage lending.
- A professional real estate agent should know the basics of conventional loans, FHA Loans, USDA Loans, and VA Loans.
- Top realtors should know the proper questions to ask a loan officer about mortgage lending guidelines.
- Many licensed real estate agents hold special certifications in areas of real estate besides just holding their real estate licenses.
- I have encountered many real estate agents who have law degrees, appraisal licenses, and insurance licenses.
- Many realtors who have licenses in other areas may not be active in those fields, however, hold licenses because having areas of expertise in other areas of real estate makes them a more marketable real estate agent.
Can Realtors Be Loan Officers?
Can Realtors Be Loan Officers And Real Estate Agents At Same Time? The answer is yes. The Gustan Cho Team at USA Mortgage is recruiting professional real estate agents who want to enter the field of mortgage loan origination.
- Many realtors are licensed mortgage loan originators.
- Some realtors who are licensed mortgage loan originators just hold their mortgage licenses while other realtors practice loan origination to supplement their full time real estate careers.
Can Realtors Be Loan Officers? Regulations
Licensed realtors can be loan officers, however, there are strict rules and regulations.
- There are many successful full time realtors who are also full time mortgage loan officers and these hard working professionals are in major demand.
- Many home sellers will definitely choose a realtor who is also a licensed mortgage loan originator due to the professional’s credentials.
- Here are the rules and regulations in being both a licensed real estate agent and licensed mortgage loan originator at the same time.
- Real Estate Agents with own real estate client can also help real estate client with their loan as long as it is not a FHA Loan.
- Realtors who are licensed loan officers cannot originate FHA Loans for their own real estate client.
- However, they can originate any type of conventional loan, jumbo loan, portfolio loan, or commercial loan for own real estate client.
- If the real estate client is not their own and do not represent the home buyer or property buyer as a real estate agent, then they can originate any mortgage loan program including FHA Loans, VA Loans, USDA Loans.
We Are Hiring Realtors For Loan Officer Positions
Licensed real estate agents who have an interest in becoming a licensed mortgage loan originator, please contact The Gustan Cho Team at USA Mortgage, a division of DAS Acquisition Company LLC NMLS 227262 at 262-716-8151 or email at firstname.lastname@example.org. We are direct lenders licensed with no lender overlays in multiple states and are looking for hard working real estate professionals to test for their mortgage loan originator licenses and join our growing team nationwide. Visit CAREER OPPORTUNITIES