Agency
A Mississippi buyer's agent who is also a mortgage broker offers to arrange financing for the buyer they are representing in a real estate transaction. This dual role creates:
AA convenient one-stop service with no issues
BA significant conflict of interest requiring full written disclosure of the dual role and compensation to be received from both the real estate transaction and the mortgage transaction✓ Correct
CAn automatic RESPA violation
DA situation requiring the agent to choose one role only
Explanation
Serving as both the buyer's real estate agent and their mortgage broker creates a dual compensation conflict of interest. RESPA requires disclosure of any affiliated business arrangements. Mississippi license law requires disclosure of any financial interest in other aspects of the transaction. Full written disclosure to the buyer is required.
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