Minnesota License Law
A Minnesota real estate licensee who is also a licensed mortgage loan originator must disclose this dual role to clients because:
AIt is forbidden to hold both licenses simultaneously
BIt creates a potential conflict of interest that clients must be aware of to make informed decisions✓ Correct
CMortgage origination requires a different brokerage license
DThe Department of Commerce automatically revokes one license when both are held
Explanation
Holding dual licenses as both a real estate agent and mortgage loan originator creates a potential conflict of interest—the agent may benefit financially from steering clients to their own mortgage services. This must be disclosed to clients under Minnesota ethics rules and RESPA's Affiliated Business Arrangement (AfBA) disclosure requirements.
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