As Lynn stated, each state is different. Most lenders though went away from this because HUD is very stricted on this kind of topic. Besides, as a borrower, I would be very very leery of anyone that was both my realtor and loan officer. You might think you are getting a good deal on the mortgage side or they might have told you, "hey, I will take care of you", etc, etc. But I would have another loan officer check over your mortgage and your costs. All to often do I see that the borrower is either getting ripped off, or that that person doesn't really know what they are doing and actualy screws up the loan. If this is a friend or a family member, it's probably why you feel comfortable. But I will say this... for me to be very good to0 excellent at my job, I can't be both a realtor and loan officer. The only ones that I have seen do both are the ones that are desparate for money and aren't really good at both. Again, just be very very careful... and if they are asking for cash instead, a major red flag. I seriously would have another loan officer review your information and your rate and your costs.
Thanks, jeff Area Manager Infinity Home Mortgage cell : 609-440-5133 e-mail : firstname.lastname@example.org
PS.. and I am licensed to do loans in Florida. About 25% of my business is done in Florida.