Friday, May 9, 2014

Would it be beneficial to be a mortgage loan originator? Would it help my real estate business? Where could I find more information?

It can be beneficial to obtain your loan originator license.  However, it is a licensed position now which requires pre-license education, testing, license fees and continuing education.  Although one can hold both a real estate salesperson license and a loan originator license, it needs to be understood that one cannot work on any deals where the potential buyer is being represented for the real estate acquisition as well as the financing.  As long as one keeps the two separate, then it can work.  It is absolutely vital that real estate professionals avoid creating conflicts of interest.

Holding a loan originator license would position one to more informed to the public.  However, since one would be restricted in practice, having the additional license would not necessarily help the real estate business per se.  One way it could help would be in the fact that clients/customers would view the agent as a greater resource.

Learn more information about obtaining a loan originator license here from the NMLS (Nationwide Mortgage Licensing System).

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