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I believe you may be referring to the Consumer real estate Settlement Protection Act (CRESPA), which forbids acting as a “settlement agent” unless licensed as 1) an attorney, 2) a title insurance agent or company, 3) a real estate broker, 4) a “financial institution” (defined by Virginia Code as banks, savings institutions, credit unions, state chartered industrial loan associations or consumer finance companies), or 5) an affiliate or subsidiary of a “financial institution”. Check out the link provided below.

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17y ago

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