Not all lenders are licensed to issue Virginia mortgages. While personnel of national banks and state-chartered banks are exempt from licensing requirements, loan originators of Virginia mortgage banks are required to meet Virginia state licensing requirements that include testing, continuing education, criminal background checks, surety bond requirements and minimum credit score requirements. Virginia mortgages and the lending institutions and banks that issue Virginia mortgages are regulated by the Bureau of Financial Institutions.
If seeking out a home loan in Virginia make sure to do business with a state licensed mortgage bank because its personnel are the best trained and most highly scrutinized employees. In addition, local state-licensed lenders of Virginia mortgages often have great local relationships with Realtors and strong local market knowledge. If you are specifically seeking out Virginia mortgages and are seeking out licensed and market knowledgeable mortgage banks please consider our branch whose personnel are highly experienced, well connected and have met stringent state licensing requirements.