diff --git a/drivers/net/phy/mdio-boardinfo.c b/drivers/net/phy/mdio-boardinfo.c
index 1861f387820d61d527ed552e5ddb24c0009234b3..863496fa5d13bafe5893d09c91045939e930b372 100644
--- a/drivers/net/phy/mdio-boardinfo.c
+++ b/drivers/net/phy/mdio-boardinfo.c
@@ -30,17 +30,20 @@ void mdiobus_setup_mdiodev_from_board_info(struct mii_bus *bus,
 					    struct mdio_board_info *bi))
 {
 	struct mdio_board_entry *be;
+	struct mdio_board_entry *tmp;
 	struct mdio_board_info *bi;
 	int ret;
 
 	mutex_lock(&mdio_board_lock);
-	list_for_each_entry(be, &mdio_board_list, list) {
+	list_for_each_entry_safe(be, tmp, &mdio_board_list, list) {
 		bi = &be->board_info;
 
 		if (strcmp(bus->id, bi->bus_id))
 			continue;
 
+		mutex_unlock(&mdio_board_lock);
 		ret = cb(bus, bi);
+		mutex_lock(&mdio_board_lock);
 		if (ret)
 			continue;