Yes, with conditions. Wyoming’s real-estate license law defines compensation as payment for real estate activity, and mortgage origination is not on its list of real estate activity, so the rule that an associate broker or salesperson takes pay only from their responsible broker governs the brokerage commission and not loan originator pay, and the mortgage licensing law itself contemplates a real-estate licensee compensated by a lender or mortgage broker as a loan originator.
What Wyoming requires
- Hold an active Wyoming mortgage loan originator license with NMLS sponsorship by a licensed mortgage company, under Wyo. Stat. 40-23-124(a).
- Take the real-estate commission only through the responsible broker, as 33-28-111(a)(xvii) and 33-28-110(a) require.
- Take mortgage pay only for loan origination work, never as a referral fee or a share of a commission. RESPA Section 8 applies.
- Disclose the dual interest and the compensation from more than one party, and obtain the written acknowledgment of every party you act for, under 33-28-111(a)(iii), (xv), (xviii) and (xxiv).
- Obtain the responsible broker’s consent, as a matter of supervision under 33-28-111(a)(ix).
What the rule says
"Compensation" means any money, item of value or payment which is provided, promised or expected for the performance of any real estate activity
Acting for more than one (1) party in a transaction without the written acknowledgement of all parties for whom the licensee acts
Failing to specify he is being compensated by more than one (1) party and failing to notify all parties involved
Accepting compensation by an associate broker or salesperson from anyone other than his responsible broker
What we have not settled
The Wyoming Real Estate Commission has not published guidance on this reading of its compensation definition.
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.