Edumakated

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goodguy1

1515 Posts

Posted - 05/16/2008 : 2:15:14 PM

Ok I need some clarification.

I have the understanding that if you are a Realtor and a mortgage person, you cannot do FHA; that technically if you are doing FHA, you cannot have any other job within the mortgage/Real estate industry.

I was told today (by a realtor) that he is both and can do both (FHA), however he just cannot represent both sides on his transactions...

Any input would be appreciated.

Banker0679

7671 Posts

Posted - 05/16/2008 : 2:18:00 PM

if he works for 2 different companies then it's not permissible

goodguy1

1515 Posts

Posted - 05/16/2008 : 2:21:44 PM

that's what I told him; they were two entirely different cities.

He said he's been doing this for over 9 years and it's always been allowed.

man...I just don't get it!

Banker0679

7671 Posts

Posted - 05/16/2008 : 2:24:23 PM

does he work for 1 company or 2?

khoiey

1179 Posts

Posted - 05/16/2008 : 2:28:55 PM

Submit his name to the oversight regulatory.

quote:
Originally posted by goodguy1

that's what I told him; they were two entirely different cities.

He said he's been doing this for over 9 years and it's always been allowed.

man...I just don't get it!

goodguy1

1515 Posts

Posted - 05/16/2008 : 2:33:36 PM

he works for 2 seperate companies; in fact the mortgage company was just bought out by someone else and that's where the conversation started. He wanted to know about my company..

It's too bad, 'cause he is one of the nicest realtors that I have met..seemed decent and not a tool.

...too bad, 'cause I'm in the process of reporting him...

Banker0679

7671 Posts

Posted - 05/16/2008 : 2:34:32 PM

i bet you guys have the FBI on speed dial

ski2313

683 Posts

Posted - 05/16/2008 : 2:46:51 PM

HUD auditors don't mess around. That's a pretty clean cut no-no

Banker0679

7671 Posts

Posted - 05/16/2008 : 2:47:47 PM

if it doesnt affect me then i dont care.

the law always catches up to criminals

NobleHouse

262 Posts

Posted - 05/16/2008 : 2:54:53 PM

I don't know why people confess their dirty deeds on BO. There's too many FBI informants in here. Everyone just needs to have a Coke and a smile and stfu.

dtabar

593 Posts

Posted - 05/16/2008 : 2:55:19 PM

quote:
Originally posted by Banker0679

i bet you guys have the FBI on speed dial

lol

goodguy1

1515 Posts

Posted - 05/16/2008 : 3:08:01 PM

that's right man. if you do nothing, then nothing will change..

stfu...nice, I like that.
my alltime favorite is DILLIGAF..

lunarhamster

2539 Posts

Posted - 05/16/2008 : 3:08:11 PM

I have heard so many people say they can do this and that and how it's legal, don't let them throw you, you know he cant work for 2 seperate companies if he is an FHA approved lender.

HMDApproved

249 Posts

Posted - 05/16/2008 : 3:10:27 PM

quote:
Originally posted by goodguy1

he works for 2 seperate companies; in fact the mortgage company was just bought out by someone else and that's where the conversation started. He wanted to know about my company..

It's too bad, 'cause he is one of the nicest realtors that I have met..seemed decent and not a tool.

...too bad, 'cause I'm in the process of reporting him...

He might not be a tool but he will be a tool box soon

goodguy1

1515 Posts

Posted - 05/16/2008 : 3:11:29 PM

right on Kathi...I just needed some reassuring from my fellow posters that I wasn't delusional about this matter.

NobleHouse

262 Posts

Posted - 05/16/2008 : 3:14:40 PM

DILLIGAF , I had to google that one. That's even better!

quote:
Originally posted by goodguy1

that's right man. if you do nothing, then nothing will change..

stfu...nice, I like that.
my alltime favorite is DILLIGAF..

velecico

2891 Posts

Posted - 05/18/2008 : 10:40:23 PM

I doubt its a crime , can anyone explain why it would be , say you sell a home for C21 , in Florida and in the winter you do mortgages for Wells Fargo or Chase in PA ? the poster said the realtor works in 2 different states , why could he/she not work 2 jobs that have nothing to do with each other ?

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