Is it legal to work at your own mortgage brokerage and also work as a loan officer for another lender?
Written By: admin on June 24, 2009
One Comment
I run a small branch of a HUD approved lender and have a lot of brokers who want to work for me to close their fha loans, but close everything else under their own license. I trust most of these people since I used to close loans with them as a wholesale AE. I am thinking of charging a flat fee per loan and then letting them retain 90% of the total commission on the loan.
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It sounds to me like "moon lighting". When you were hired, did you sign anything telling you that you were not allowed to pick up a second job in a similar field?
I would not outright question your employer for advice, but there is nothing they can do to prevent you from doing this in CT. I don't know where you live.