As brokers in a way I can get money to refinance a home, or to my client in a home loan?

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I know I can not be a loan officer, because I am a realtor but I am someone who put me in Primerica and I’ll tell you the money home and refinancing home loans . may I ask, is there another way I like “intermediate” are agency fees or commission of mortgages and home insurance?

4 Comments
  1. Reply
    someone
    April 29, 2011 at 9:53 pm

    That is illegal. You would be guilty of collusion and misrepresentation

  2. Reply
    dog ma
    April 29, 2011 at 9:53 pm

    Don’t even think about it! In some states you may be able to be a licensed loan officer as well as a licensed Realtor, as long as you very clearly disclose ALL possible conflicts of interest and monies paid to you. but I would never recommend it. Concentrate on getting to know some top-notch loan officers and on improving your own real estate sales business, instead of trying to scrape additional small sums from any of your transactions. No reputable mortgage company would ever provide you with a referral fee – read RESPA again and speak with your broker if you have any questions. It is illegal and unethical and you could lose your license, or worse, your reputation.

  3. Reply
    odone
    April 29, 2011 at 9:53 pm

    clearly you are not aware of the mega financial reform we are experiencing right now in the mortgage industry, bottom line you will not be able to do this loan legally.
    As a Realtor I am shocked that you are even asking this, also as a Realtor, don’t you have mortgage lenders/brokers you work with that you can send this client to?

  4. Reply
    teran_realtor
    April 29, 2011 at 9:55 pm

    Carmen – as Realtors, we can get referral fees from other Realtors to whom we send clients. That does not exist for loan officers. Even from one licensed loan officer to another, they are not allowed to pay referral fees. As Realtors, we cannot pay unlicensed people a referral.
    Primerica is a network marketing company that provides loans and financial advice and investing. T do loans with them, you get licensed in your state as a loan officer. I’m a Realtor, and in another network marketing company, so I have been approached by people in Primerica several times. To me, it would be more beneficial to simply get a mortgage broker’s license if I wanted to do loans as well as sell real estate.
    To make money on mortgages or re-fi’s, you need to be the loan officer yourself.

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