We found no Arkansas rule against a real-estate agent acting as the mortgage loan originator on the same purchase. The Fair Mortgage Lending Act exempts a real-estate licensee only for activity the Real Estate Commission regulates, so the mortgage work needs its own license, and neither law bars holding both.
What Arkansas requires
- Hold an active Arkansas 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, in keeping with the Real Estate Commission’s duty of fidelity and honest dealing.
What the rule says
(ix)(a) A licensed real estate agent or broker who is performing those activities subject to the regulation of the Arkansas Real Estate Commission. (b) Notwithstanding subdivision (9)(B)(ix)(a) of this section, “exempt person” does not include a real estate agent or broker who receives compensation of any kind in connection with the referral, placement, or origination of a mortgage loan
In accepting employment as an agent, a licensee pledges to protect and promote the interests of the client or clients. This obligation of absolute fidelity to the interest of the client or clients is primary, but does not relieve a licensee from the equally binding obligation of dealing honestly with all parties to the transaction.
Notwithstanding Regulation 8.3(a), a licensee shall not accept a commission, rebate, profit, payment, compensation or other valuable consideration in connection with a real estate transaction or real estate activity from any person or entity except the licensed principal broker under whom the licensee is licensed.
What we have not settled
One Real Estate Commission rule, Regulation 8.3(b), reads two ways, and a written confirmation from the Commission is the clean fix.
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.