We found no Alaska rule against a real-estate licensee acting as the mortgage loan originator on the same purchase. The Alaska mortgage licensing statutes and the real-estate licensing statutes contain no prohibition on the dual role.
What Alaska requires
- Hold an active Alaska MLO license sponsored by a licensed mortgage company, alongside the real-estate license.
- Disclose both roles and both forms of compensation to the buyer in writing.
What the rule says
A person who is required to be licensed under this chapter and a person who is licensed under AS 06.20 may not, in connection with a mortgage loan transaction, (1) misrepresent or conceal a material fact or make a false promise likely to influence, persuade, or induce an applicant for a mortgage loan or a borrower
after hearing, have the authority to suspend or revoke the license of a licensee or impose other disciplinary sanctions authorized under AS 08.01.075 on a licensee who (A) with respect to a real estate transaction (i) made a substantial misrepresentation
regardless of the type of licensee relationship in which the real estate licensee is acting, a real estate licensee owes the following duties to each person to whom the licensee provides specific assistance: (1) the exercise of reasonable skill and care
What we have not settled
The administrative rules at 3 AAC 14 and 12 AAC 64 have not been read in full.
What applies in every state
- Both licenses must be active. The mortgage side is an individual MLO license, sponsored by a licensed mortgage company, with the SAFE test, 20 hours of education and a background check behind it.
- Federal law sits above the state rule. RESPA Section 8 bars pay for a referral, and Regulation Z sets what a loan originator may be paid for. Compensation on the mortgage side is for origination work performed. The RESPA and referral-fee explainer walks through it.
- The lender on the loan has its own rule. FHA permits the dual role since 2022. Conventional lenders decide file by file in writing.
- The buyer keeps the right to choose any lender, and the disclosure says so.