Asked by: Geraldin Kaushalreal estate real estate buying and selling
Can you be a mortgage broker and real estate agent?
Last Updated: 3rd June, 2020
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Beside this, should I be a Realtor or mortgage broker?
Real estate agents work on the buying and selling part of a property while mortgage brokers focus on the financing side of the purchase. The difference is that loan officers work with a specific lender while a mortgage broker works similar to an “independent contractor,” working with several lenders.
can a real estate broker own a mortgage company? A: Yes, a real estate broker or salesperson can provide a list of mortgage companies to a consumer. However, a real estate broker or salesperson cannot negotiate, place or find a mortgage loan for a consumer and may not make any decisions in regards to a mortgage on behalf of a consumer.
Regarding this, can you be a loan officer and real estate agent?
Licensed realtors can be loan officers, however, there are strict rules and regulations. 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.
Can you be a real estate agent and mortgage broker in BC?
No. If you have completed the Real Estate Trading Services Licensing Course, please contact the BC Financial Services Authority (BCFSA) for more information about how to become registered as a mortgage broker. You can be licensed under the Real Estate Services Act and the Mortgage Brokers Act at the same time.