We found no Hawaii rule against a real-estate agent acting as the mortgage loan originator on the same purchase. The prohibited-practices section of the mortgage loan originator law, HRS 454F-17, contains no such bar.
What Hawaii requires
- Hold an active Hawaii 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
It shall be a violation of this chapter for a licensee or person subject to this chapter to: (1) Directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person
Every mortgage loan originator company licensed under this chapter and every exempt sponsoring mortgage loan originator company shall have and maintain a principal place of business in the State and shall designate a qualified individual to fulfill the duties and responsibilities of a qualified individual set forth in section 454F-1.7.
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.