We found no Vermont rule against a real-estate agent acting as the mortgage loan originator on the same purchase. Neither the real-estate license law’s unprofessional-conduct section nor the licensed-lender chapter’s prohibited-acts section mentions the dual role.
What Vermont requires
- Hold an active Vermont 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
In addition to the conduct set forth in 3 V.S.A. § 129a, the following conduct by those regulated under this chapter constitutes unprofessional conduct: (1) commingling money or other property to which the licensee's clients or other persons are entitled with the licensee's own
It is a violation of this chapter for a person or individual to: (1) directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person
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.