Can you be a loan officer and real estate agent in Virginia?

Licensed realtors can be loan officers, however, there are strict rules and regulations. 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.

Can loan officers refer Realtors?

Now that you understand what the relationship between your Realtor and loan officer is, you can make an educated decision on how to proceed. Of course, it’s totally OK to trust the referral of a Realtor, but you should also do your own homework to make sure you’re getting the best deal. Find a local loan officer here.

Can a licensed realtor be a loan officer?

Can Realtors Be Loan Officers And Regulations. Licensed realtors can be loan officers, however, there are strict rules and regulations. Real Estate Agents with own real estate client can also help real estate client with their loan as long as it is not a FHA Loan.

Who are the loan officers for the VA?

Loan officers who focus on VA mortgages may be able to better answer tough questions about eligibility, entitlements and qualification. Additionally, a loan officer who handles VA loans day in and day out may be more experienced in managing special cases that can sometimes delay the VA loan process elsewhere.

Are there any VA approved real estate lenders?

VA-Approved Lenders and Real Estate Agents. Veterans who are eligible for VA home loan benefits and in the market for a new house can utilize lenders and real estate professionals to their advantage. Licensed and VA-approved lenders can help veterans understand and get the most out of their VA home loan benefits.

Who are the best lenders for VA loans?

VA-approved Lenders can help: An agent who has more experience working with VA borrowers may understand the VA loan process better. While agents may recommend a favorite lender, it’s ultimately the borrower’s responsibility to choose a lender that is experienced in VA loans.

Can Realtors Be Loan Officers And Regulations. Licensed realtors can be loan officers, however, there are strict rules and regulations. Real Estate Agents with own real estate client can also help real estate client with their loan as long as it is not a FHA Loan.

Do you need a mortgage license in Virginia?

This license is required for an individual who takes an application for or offers or negotiates the terms of a residential mortgage loan that is secured by real property located in the Commonwealth of Virginia.

Is it legal to be both a loan originator and a real estate company?

However, many employers, both lenders and real estate companies, do not allow dual employment. There is huge liability and exposure for steering, conflict, among other potential legal, RESPA, and compliance risks. These are 2 industries with HEAVY regulation, so many employers do not want any part of it.

Who are qualified education loan servicers in Virginia?

Any person acting as a qualified education loan servicer, directly or indirectly, whether or not the person has an office or any other physical presence in the Commonwealth, except in accordance with the provisions of and without having first obtained a license under this chapter from the Virginia State Corporation Commission.