Is it illegal to do Real Estate and Mortgage Loans?
I heard that a well known real estate company was doing both loans and selling real estate and they were arrested recently. Is there a law that prohibits this practice. If you are licensed must you chose one or the other? A: I know several agents that are mortgage brokers and real estate agents… it is not illegal. They can NOT force you to use them for the mortgage, and if they give you “cash back” from their commission if you use them… their could be legal issues with that. But offering you a mortgage as well as being your REA is perfectly fine.