Is it illegal to work for two mortgage companies?

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If you’re in transition from one mortgage company to another is it illegal to work for two mortgage companies? Not originated loans just simply getting your compensation and then leaving and the new employer knew this.

2 Comments
  1. Reply
    lana s
    May 14, 2011 at 12:23 am

    It should be OK unless it is in the employment rules.
    It is America and we should be able to work where and when we want. Check those rules and guidelines………….xx

  2. Reply
    Chase R
    May 14, 2011 at 12:56 am

    It is not illegal, but highly unethical according to most lending institutions. If either were to get wind of your employment with the other, you would probably be terminated. Most mortgage companies will include “conflict of interest” clauses in their offer letters that state you cannot work for a competitor. Some will even limit you to not working for any company involved in a mortgage transaction such as a title company or real estate company.

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