FHA Loan Officer/Appraiser

[medinaappraisal]

I recently passed the state exam to begin originating loans in the state of Texas. A Mortgage Broker I am interested in working with has informed that if I want to originate an FHA Loan I would have to give up my appraisal license; he seemed very unsure. I am very much aware that I can not appraise my own files but giving up my license all together?? Any help or guidance would be much appreciated...

 

[timd354]

I recently passed the state exam to begin originating loans in the state of Texas. A Mortgage Broker I am interested in working with has informed that if I want to originate an FHA Loan I would have to give up my appraisal license; he seemed very unsure. I am very much aware that I can not appraise my own files but giving up my license all together?? Any help or guidance would be much appreciated...

I originated loans, including FHA loans for 2-3 years while also holding an appraiser's license and being on the FHA appraiser panel. Naturally, I did not appraise any properties related to any loans I originated and I did not appraise any properties for the bank owned lender that I originated loans for. Everyone at the bank new I also worked as an appraiser and no one ever had any problem with it. This was a few years ago, but I am unaware of any regulations barring this situation.