Yes, with the principal’s signed consent. West Virginia’s real-estate license law permits a licensee to act in another compensated role on the transaction with the principal’s signed consent, and its mortgage law bars one company from being both broker and lender on a transaction.
What West Virginia requires
- Obtain the principal’s signed consent, as W. Va. Code 30-40-19(32) requires.
- Originate through a company that brokers the loan and does not also lend on it, because 31-17-5 bars broker and lender in one transaction.
- Hold an active West Virginia MLO license sponsored by a licensed mortgage company.
What the rule says
Directs any party to a real estate transaction in which the licensee is involved, to any lending institution for financing or to any affiliated business with the expectation of receiving a financial incentive, rebate, or other compensation, without first obtaining from his or her principal the signed acknowledgment of and consent to the receipt of the financial incentive
Under no circumstances whatever may a person or licensee act as a broker and lender in the same transaction.
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.