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

This Article Is About Can Realtors Be Loan Officers And Real Estate Agents At Same Time

Real Estate Agents are professionals who are licensed to represent home buyers and home sellers. Gustan Cho Associates is looking to hire real estate agents as remote loan officers. You need to have at least one-year full-time loan origination experience and be knowledgable with a loan officer origination system such as Encompass and/or Calyx Point.

  • 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 mortgage loan programs available in today’s marketplace
  • Besides Conventional, FHA, USDA, and VA Loans, Gustan Cho Associates has countless lending relationships with non-QM wholesale mortgage lenders
  • 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, holding 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 with at least a one-year of loan origination experience. Need to be familiar and expert with a loan origination system such as Encompass and/or Calyx Point. Realtors who have no loan origination experience may be considered on a case by case basis if they are close to our Lombard, Illinois headquarters and/or one of our branch offices.

  • Many realtors are licensed mortgage loan originators
  • Some realtors who are licensed mortgage loan originators do not originate many loans
  • We are only looking for realtors who are actively originating at least one to three loans per month

Some real estate agents with their NMLS MLO licenses just hold their mortgage licenses while other realtors practice loan origination to supplement their full-time real estate careers. Gustan Cho Associates will provide exclusive leads.

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 demand
  • Many home sellers will definitely choose a realtor who is also a licensed mortgage loan originator due to their 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 their own real estate client CANNOT represent the same client as a loan officer
  • GCA Mortgage Group has a team of loan officers who are not realtors who can team up with reators who are loan officers
  • Realtors who are licensed loan officers cannot originate FHA Loans for their own real estate clients
  • In theory, they can originate any type of conventional loan, jumbo loan, portfolio loan, or commercial loan for their own real estate client
  • However, most mortgage companies will not allow licensed real estate agents to be loan officers for the same client in any loan transactions
  • The reason is many buyers of mortgages on the secondary mortgage market will not purchase closed loans of borrowers who were represented by a realtor and loan officer on the same transaction after the loans are funded
  • What is more, if you are a realtor you might use your realtor’s commission for a downpayment for a property

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 a faster response. Or email at [email protected] Gustan Cho Associates Mortgage Group is a mortgage company licensed in multiple states with no lender overlays on government and conventional loans. Gustan Cho Associates is always looking for hard-working real estate professionals who also want to originate loans. The ideal candidate is a hard-working realtor with at least one-year of mortgage loan origination experience. The candidate should be an expert in a loan origination system (LOS) such as Encompass and/or Calyx Point. Gustan Cho Associates provides exclusive leads 7 days a week. Please send a cover letter and a copy of your resume to [email protected]

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