We found no Indiana rule against a real-estate agent acting as the mortgage loan originator on the same purchase. The mortgage lending and real-estate licensing statutes contain no prohibition on the dual role.
What Indiana requires
- Hold an active Indiana 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) A person shall not, in connection with a contract for the services of a loan broker, do any of the following:
A licensee representing a buyer or tenant has the following duties and obligations: To fulfill the terms of the agency relationship made with the buyer or tenant.
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.