Hawaii License Law
What is the Hawaii Real Estate Commission's position on licensees who are also mortgage brokers or loan officers?
AA. Licensees may freely combine real estate sales with mortgage brokering without disclosure
BB. Licensees who also originate loans must disclose this dual role to clients as it creates a potential conflict of interest; they must comply with both real estate license law and mortgage broker licensing requirements✓ Correct
CC. Hawaii prohibits real estate licensees from also being mortgage brokers
DD. Only principal brokers may also be mortgage brokers in Hawaii
Explanation
Real estate agents who also broker or originate mortgages must be separately licensed as mortgage loan originators under SAFE Act requirements. They must disclose the dual role to clients and manage potential conflicts of interest.
People Also Study
Related Hawaii Questions
- A Hawaii escrow company may NOT disburse funds until:Escrow & Title
- Hawaii's unique ecosystem makes which type of environmental disclosure particularly important for rural properties?Environmental
- In Hawaii, what does 'intestate' mean in the context of real property transfer?Property Ownership
- In Hawaii, the Seller's Real Property Disclosure Statement requires sellers to disclose:Environmental
- In Hawaii, which type of mortgage protects the borrower against rising interest rates over the life of the loan?Finance
- A Hawaii buyer obtains a $350,000 30-year mortgage at 6% interest. The monthly factor is $6.00 per $1,000. What is the total interest paid over the life of the loan?Real Estate Math
- A Hawaii FSBO property is listed at $595,000 and the seller offers a 2.5% co-op commission to buyer's agents. If a buyer's agent brings a buyer who purchases at full price, what is the commission paid?Real Estate Math
- What is the Hawaii Real Estate Commission's authority over unlicensed assistants working for licensed agents?Hawaii License Law
Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Math Concepts
State-Specific Concepts
Broker SupervisionLicense Law
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →