Can Realtors Be Loan Officers And Real Estate Agents At Same Time?

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This BLOG Can Realtors Be Loan Officers And Real Estate Agents At Same Time Was UPDATED And PUBLISHED On April 22nd, 2020

Can Realtors Be Loan Officers And Real Estate Agents At Same Time?

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
  • They always have 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

In this article, we will discuss and cover Can Realtors Be Loan Officers And Real Estate Agents At Same Time.

Can Realtors Be Loan Officers?

Can Realtors Be Loan Officers And Real Estate Agents At Same Time?  The answer is yes. GCA Mortgage Group 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

They just hold their mortgage licenses while other realtors practice loan origination to supplement their full-time real estate careers.

Regulations And Guidelines

Can Realtors Be Loan Officers And 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
  • 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 an FHA loan
  • Realtors who are licensed loan officers cannot originate FHA Loans for their own real estate clients
  • 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 does 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 us at Gustan Cho Associates at 262-716-8151 or text us for faster response. Or email at gcho@gustancho.com. 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

44 Comments
  1. Sofia says

    I’m a licensed DRE broker in CA. What courses do I need to be an originator?

    1. Gustan Cho, NMLS 873293 says

      You need to get an NMLS license through the DBO for California to become a loan originator

      1. Estela Aceveo says

        HI Im a licensed real estate agent. Ive completed my 20hrs safe class and I’m waiting to test in Jan.
        Should I get my LO license with the DRE or the DBO

        1. Gustan Cho, NMLS 873293 says

          Once you passed the NMLS exam, apply for the California DBO license. If you need sponsorship, please contact us at gcho@loancabin.com. The best to you.

  2. William Curington says

    I am currently working on both loan originators and R.E. licenses in GA..whom do I talk to about onboarding?

    1. Gustan Cho, NMLS 873293 says

      Contact Mike Gracz at mgracz@gustancho.com and/or call and/or text Michael at 630-659-7644

  3. Joe says

    Currently working on getting my LO and RE in Florida. Anyone down here I can work with?

    1. Gustan Cho, NMLS 873293 says

      We offer remote loan officer positions to qualified licensed individuals. Please email me at gcho@loancabin.com.

  4. Lauren says

    I’m a licensed realtor in Florida and I finished the course for mlo; I need to take exam. Anyone I can talk to here?

    1. Gustan Cho, NMLS 873293 says

      What is your question? I can answer your questions here

    2. Candace says

      Hi Gustan , I stubbles upon your blog here , I’m living in New Mexico now , I have my California RE lic hung with Park and refer for now , I also have a Nevada lic that I’m gonna have expire in Sept since CE is a pain in the ass they require you to be in a class room 12 hr unlike Cali you renew every 4 years and can do it online ,
      I’m going to be taking my MLO test in July I believe , 17 hr Fed and 3 hr State for NM , I’m planning to use my California lic for referrals since I live in NM ,
      My goal is to work Remote , but would be nice to have some training , I have been watching lots of online training on You tube , some real good stuff on there .. Does your company do New Mexico , Do you have an office here too by chance ?

      1. Gustan Cho, NMLS 873293 says

        Unfortunately we are not licensed in New Mexico at this time. I highly recommend that you work for a smaller mortgage shop that is local to you where you can go into the office. Remote loan origination is very difficult if you do not have hands on experience. Once you have about one to two years experience, then you may work as a remote loan officer. Call me at that time. By then we should be licensed in New Mexico.

  5. MATT BROSIOUS says

    Will Loan Cabin work with a loan originator from Florida. Whos should I contact for info on any program you offer?

    1. Gustan Cho, NMLS 873293 says

      We are licensed in Flordia. Please reach out to gcho@loancabin.com. Looking forward to working with you.

  6. Tatiana AnikinaDick says

    What about VA? I have MLO and BR broker’s licenses.

    1. Gustan Cho, NMLS 873293 says

      You can be a licensed loan officer and real estate agent at the same time with us at Gustan Cho Associates

  7. Martha Irene Irene Mendoza says

    HI Im a licensed real estate agent and I just passed the NMLS test and Im about to submit my application to get the MLO license but my concern is, if I decide to apply through the DRE am I going to be able to do Real Estate and Loans at the same time with the NMLS Endorsment or will I be forced to only do one or the other? I will really appreciate if you help me to clarify this concern because I do not want to be in the position that I will have to pick to only do one or the other going through the DRE..Or in another words, if I apply through the DRE being a sales person not a broker will I be able to do both loans and Real Estate? Looking forward to hear the right answer. Thank you very much.

    1. Gustan Cho, NMLS 873293 says

      Congratulations on your passing the NMLS exam. We have many licensed real estate agents who are loan officers. You need to apply for an NMLS MLO license through the DBO and NOT the DRE. The DRE is only for companies that are both realtors and licensed lenders. You can hold your real estate license with the DRE but need to apply with the DBO in order for you to get licensed with us and/or other mortgage lenders. If you are interested in becoming part of our team, feel free to contact me at gcho@gustancho.com or call and/or text me at 262-716-8151. Thank you.

  8. Martha Irene Irene Mendoza says

    I will. Thank you very much.

    1. Gustan Cho, NMLS 873293 says

      You are very welcome. Please do not hesitate to contact us if you have any questions. The best of luck to you.

  9. Cindy Hipwell says

    So can you hang your Realtor license with one company and also be a licensed loan officer with another in CA and NV once you have passed the tests?

    1. Gustan Cho, NMLS 873293 says

      Of course. That is how it is done. You can work both as a real estate agent and loan officer at the same time. You would need to be sponsored by a realtor for your real estate license and by a mortgage lender like us for you to be sponsored as a mortgage loan originator.

  10. Bill Tsoukalas says

    In Illinois are you able to have both your real estate license and mortgage broker license?

    1. Gustan Cho, NMLS 873293 says

      You can have your real estate agent’s license and mortgage loan originator’s NMLS license in all states.

  11. Travis Tran says

    I’m a real estate agent in Oregon and Washington. I’m getting my Loan officer license soon. Do you know where I can start or connect after I get my Loan Officer license?

    1. Gustan Cho, NMLS 873293 says

      Go to http://www.loanofficerschool.com and ask for David Reinholtz to sign up for the 20 hour NMLS online course. I highly recommend the Loan Officer School because they have the best study practice questions. After you pass the exam, you can contact us at gcho@gustancho.com to start the hiring process.

  12. James Graff says

    I finished the 20 hrs + 4 hrs New Jersey specific training. I am now studying to take the S.A.F.E. NMLS MLO exam in New Jersey. Once I pass I will need a company to work for as an MLO (I have one that is interested and willing…However, I have been informed that they do not allow MLOs to use their RE licenses – they must “put them aside”). I would also like to get my Real Estate license in New Jersey as well: is that possible?? Could I work as an MLO for you?? (Would that allow me to use a RE license in N.J.??

    Thanks!!

    1. Gustan Cho, NMLS 873293 says

      Most lenders will require you to forfeit your real estate license and place it in hibernation. Other lenders like us do not require that you give up your realtor license. However, you cannot represent your own real estate clients and be the loan officer on the same transaction. You can have one of our loan officers represent your real estate client and you be the loan officer assistant and get paid. But you cannot be dually a realtor and loan officer on the same transaction. You can represent other realtors mortgage transactions.

  13. Brandon Foy says

    Hey Gustan, I had already passed my SAFE exam in 2016 and found out that it was still good for up to 5 years so I would like to reinstate it. I also have been a Realtor for the last 4 yrs but want to supplement my income by being a LO and only take listings in RE sales. However do you advise me to take the 20hr edu to be eligible to take SAFE, not to get licensed b/c I already have it…but as a refresher to learn again? or do you all have a training that your firm offers or recommends? I didn’t close many loans due to lack of training and why I went into sales in the first place back then But def looking to learn about mortgage industry during these times now

    1. Gustan Cho, NMLS 873293 says

      As long as the last time you got licensed is five years or less, you do not have to retake the 20 hour NMLS course or take the 125 question national NMLS exam again. You can get your license reactivated by applying for a state. Contact David Reinholtz at http://www.loanofficerschool.com and tell him I sent you. He will answer all of your questions and set you up.

  14. Jay says

    Hello Gustan, I am real estate agent in California and planning to take MLO license exam this month to become Loan Officer as well. Can you please confirm:
    1. I will be eligible to work for you as a Loan Officer while still holding my real estate license with my broker?
    2. You mentioned in one of the comments that to do above, we might have to apply for NMLS MLO license through DBO and not DRE. I’m not sure if DRE provides MLO license.
    Did you mean I should not get endorsement from DRE for my MLO license?

    Thank you very much for your helpful insights. Appreciate it.

    1. Gustan Cho, NMLS 873293 says

      Yes, you can still be licensed as a licensed real estate agent and be licensed as an NMLS loan officer at the same time. You need to get your NMLS license through the DBO. You need to complete a 20 hour online NMLS course and pass the 125 question 3 hour federal NMLS exam and get a 75% to pass. Once you pass, you need to apply for your NMLS California license through the DBO. You can get licensed in any state your sponsoring company is licensed in. We are licensed in 15 states and have 7 states that are pending. We are seeking licensed real estate agents who are licensed loan officers but need to be producers. You may email me at gcho@gustancho.com or text me at 262-716-8151 if you have any questions. I highly recommend David Reinholtz from Loan Officer School. You can go to loanofficerschool.com and call the toll free number and tell hime I referred you. He will give you a discount. He has the best study materials and practice questions.

  15. Steve says

    Hi Gustan. I have my RE Broker license in California and Florida. I am getting ready to take the NMLS exam. Would I sign with a mortgage company as a broker associate? I would like to originate loans and list and sell property in both CA and FL. Is that possible? Thanks

    1. Gustan Cho, NMLS 873293 says

      You would have to get hired by a mortgage company. Please email me your contact information at gcho@gustancho.com and I can guide you the right way.

  16. Eddie says

    Hi Gustan, I have both MLO and RE license in California. I know I can’t originate loan and do RE transaction on FHA clients. Can I do loan and RE transaction for the same client if it’s conventional loan?

    1. Gustan Cho, NMLS 873293 says

      No lender will allow you to be a loan officer and real estate agent for a client. The main reason is because the secondary mortgage bond market will not buy loans that has the same realtor and loan officer.

  17. carlos says

    hello gustavo, Can i do loan and RE transaction in the same client if it is a conventional loan in texas?

    1. Gustan Cho, NMLS 873293 says

      No you cannot. You cannot be a real estate agent and loan officer in the same transaction

      1. Cedric says

        Hello, Can you clarify what does the article above means then ? I’m sorry but it confuses me ! It says that RE agent can originate conv. loans

        It reads the following:
        “Realtors who are licensed loan officers cannot originate FHA Loans for their own real estate clients”

        “However, they can originate any type of conventional loan, jumbo loan, portfolio loan, or commercial loan for own real estate client

        1. Gustan Cho, NMLS 873293 says

          You cannnot be a realtor and loan officer on the same transaction. You can handle other peoples loans but not loans that your are an agent on.

  18. Dustin McIntosh says

    Hi! I’m dual licensed in RE and MLO in Oklahoma. The above article reads that I cannot originate a loan and represent the buyer in the same transaction on FHA. What about VA and USDA? I hear so many different responses.

    1. Gustan Cho, NMLS 873293 says

      On all loan programs you cannot be a realtor and MLO for the same client. The secondary mortgage bond market with not purchase MBS on mortgages that have the same loan originator and realtor for the same transaction.

  19. Mark Browne says

    My wife is the broker of record of our small team of Realtors and I am an agent. We both passed the NMLS test today in California. Do you see any issues of me doing real estate and her doing the loan for any future clients?

    1. Gustan Cho, NMLS 873293 says

      That should be fine. You just cannot represent the buyer on both sides of the transaction as a realtor and loan officer at the same time.

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