We found no Maryland rule against a real-estate agent acting as the mortgage loan originator on the same purchase. The real-estate, financial institutions and commercial law provisions we read contain no prohibition on the dual role.
What Maryland requires
- Hold an active Maryland MLO license sponsored by a licensed mortgage lender, alongside the real-estate license.
- Use a separate written agreement for the mortgage work and stay within the mortgage broker finder’s fee cap of 8 percent of the loan amount in Commercial Law 12-804.
- Disclose both roles and both forms of compensation to the buyer in writing.
What the rule says
A mortgage broker may charge a finder’s fee not in excess of 8 percent of the amount of the loan or advance.
pays or receives a rebate, profit, compensation, or commission in violation of any provision of this title
Subject to the hearing provisions of § 11–616 of this subtitle, and except as provided in subsection (f) of this section,
What we have not settled
The COMAR regulations and Attorney General opinions 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.