Skip to content

Mortgage Market Intel #43 - Dual-Licensed Real Estate Agents and Loan Officers: How Many Are Actually Doing Both?

Picture of Steven Wynands

Market Movers

Last week, 400 originators switched companies and 979 individuals obtained their NMLS license. Notable originator movements last week include:

Figures are based on last 14 months’ production.

Market Movers (Gainers by Producer Volume)

Top Gainers (non-Bank/CU):

  1. COAST 2 COAST LENDERS, LLC +43.33%
  2. Ideal Mortgage Inc. +14.9%
  3. SayGo Home Loans, LLC +12.16%
  4. WOODWARD HOME LENDING, LLC +11.91%
  5. American Pacific Mortgage Corporation +10.28%
  6. LGI Mortgage Solutions, LLC +6.33%
  7. Lumin Lending Inc. +5.89%
  8. Answer Home Lending, Inc. +4.59%
  9. RenoFi +4.46%
  10. Reliant Mortgage LLC +4.22%
  11. New Story Lending LLC +3.79%
  12. Atlantic Bay Mortgage Group, L.L.C. +3.73%
  13. Shield Home Loans Inc. +3.63%
  14. Paramount Residential Mortgage Group, Inc. +3.49%
  15. Origna8 Mortgage LLC +2.79%

Calculations based on last aggregate production of individual LO’s 14 months’ production. Excludes companies below $100M in 14mo LO production value after gains factored in.

 

RETR Newsletter-43-DualLicensed-Image

Dual-Licensed Real Estate Agents and Loan Officers: How Many Are Actually Doing Both? 

With elevated interest rates, tighter margins, and increasing pressure to maintain production, mortgage companies and real estate professionals are looking for new ways to generate revenue.

One strategy gaining attention is dual licensing, where an individual works as both a real estate agent and a mortgage loan originator (LO).

But how many are actually doing both?

What RETR Found

Rather than simply looking at licensing records, RETR analyzed real estate agents whose top mortgage loan officer shares their own name.

This allowed us to identify agents who appear to be originating mortgages for their own real estate clients.

We identified 3,729 agent/LO observations meeting our criteria.

Here's where they're concentrated:

State

Agent/LO Count

California

1,494

Florida

503

Texas

349

Arizona

298

Michigan

149

Illinois

119

Colorado

99

Georgia

71

Nevada

71

Minnesota

63

California alone accounts for 40% of our findings, while the top four states represent nearly 71%.

These figures are intentionally narrow. We're not counting everyone who holds both licenses, only agents whose top LO shares their name. That excludes dual-licensed professionals who don't originate for themselves or primarily use just one license. Name matching is also not independent verification of dual licensure.

Why the Interest in Dual Licensing?

A 2024 Hanover Research survey, cited by National Mortgage Professional, found that 32% of real estate agents were pursuing or planning to obtain an MLO license, while another 42% were considering it.

The appeal is understandable.

For agents, dual licensing offers the potential for additional income and greater control over the homebuying transaction. For mortgage companies, it creates another avenue for recruiting talent and capturing production.

However, compensation arrangements, RESPA, state licensing requirements, and loan program restrictions introduce compliance considerations that cannot be overlooked.

Another Strategy for Protecting Margins?

We've previously explored how mortgage companies are competing through borrower retention, loan officer recruitment, and stronger Realtor relationships.

Dual licensing is another strategy emerging from those same economic pressures.

Our analysis doesn't tell us whether dual licensing is accelerating or how profitable it is. But it does show that thousands of agent/LO matches are already visible in the production data.

As companies look for ways to protect revenue and margins, could dual licensing become a more significant part of the mortgage industry's business model?

Upcoming RETR Training

    • Mon, Oct 26 @ 2p ET - Intro to RETR: The Modern Loan Officer’s Data Advantage Register                 
    • Wed, Oct 28 @ 1p ET - Fresh Doors: Find the Agents Your Competition Hasn’t Met Yet Register                  
    Note: Full training calendar is available at https://training.retr.com

Is RETR Better?

When it comes to mortgage market intelligence, you have a handful of options, and RETR is one that truly stands out. Here’s what Matt Schiefer, a top producer at 1st Security Bank has to say about RETR: “RETR has been a game changer for our team and organization. Accessing data in virtually one click for local builders, real estate agents, and other loan officers has enabled us to develop targeted marketing strategies and focus on more valuable relationships in our market.”

RETR Newsletter-43-DualLicensed-41_User Testimonial - Matt Schiefer

 But you don’t have to take their word for it. RETR offers a free trial to individuals and organizations to judge the quality of the data and insights for themselves.