We found no Delaware rule against a real-estate agent acting as the mortgage loan originator on the same purchase. The real-estate licensing law requires prior written disclosure of a licensee’s interest in a related service.
What Delaware requires
- Hold an active Delaware MLO license sponsored by a licensed mortgage company, alongside the real-estate license.
- Give prior written disclosure of the mortgage role and its compensation to the buyer, as 24 Del. C. 2912(a)(10) requires.
What the rule says
Has received or made an arrangement or agreement to receive, directly or indirectly, any form of valuable consideration for products or services relating to a real estate services transaction without prior written disclosure by the licensee to the customer or client of the licensee and the payor for the product or service
What we have not settled
The State Bank Commissioner’s administrative regulations 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.