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Is a Principal Broker or Mortgage Broker/Agent allowed to lend his/her own money to a borrower through the Mortgage Brokerage?

April 26, 2017agent allowed borrower broker brokerage lend money mortgage mortgage broker Principal

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Is a Principal Broker or Mortgage Broker/Agent allowed to lend his/her own money to a borrower through the Mortgage Brokerage?

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A Principal Broker, Mortgage Broker or Agent may lend his/her own money (i.e. act as a lender) through a Mortgage Brokerage. The Mortgage Brokerage is required to disclose the nature of the relationship between the Brokerage and the lender under a mortgage that it presents for the borrower’s consideration.