™Your Policy Risk Impact Agent
32 chapters · 875 sections in this title.
Va. Code Ann. § 55.1-900 Definitions
3.4K chars
As used in this chapter, unless the context requires a different meaning: "Disbursement of loan funds" means the delivery of the loan funds by the lender to the settlement agent in one or more of the following forms: 1. Cash; 2. Wired funds; 3. Certified check; 4. Checks issued b…
Va. Code Ann. § 55.1-901 Applicability; effect of noncompliance
0.4K chars
A. This chapter applies only to transactions involving loans that (i) are made by lenders and (ii) will be secured by first deeds of trust or mortgages on real estate containing not more than four residential dwelling units. B. Failure to comply with the provisions of this chapte…
Va. Code Ann. § 55.1-902 Duty of lender
0.6K chars
The lender shall, at or before loan closing, cause disbursement of loan funds to the settlement agent. In the case of a refinancing or any other loan where a right of rescission applies, the lender shall, within one business day after the expiration of the rescission period requi…
Va. Code Ann. § 55.1-903 Duty of settlement agent
2.4K chars
A. Prior to settlement, the settlement agent shall exercise ordinary care to reasonably ascertain the identity of a seller of real property. Methods of exercising such ordinary care may include (i) obtaining satisfactory evidence of identity as defined in § 47.1-2; (ii) requiring…