UPDATE: Effective July 1, 2016, the new Order of the State Corporation Commission, adopting proposed changes to the Rules Governing Settlement Agents, will go into effect.
Read the full Order here.
From the Order:
"The Bureau's proposed amendments added several definitions to the regulations, as well as numerous consumer protection provisions relating to, among other things, insurance and bonding requirements, escheatment of funds, audits, reporting requirements, and the use of independent contractors. The addition of the definition of "settlement agent" prompted the Deputy Secretary of the Commonwealth and Notaries Public to file comments expressing concerns that the proposed regulations would require a Notary Public who conducts settlement conferences without handling funds to become licensed and registered. General concerns were raised, as well as requests for clarification, with respect to other of the proposed amendments. The Commission did not receive any requests for a hearing.
The Bureau considered the comments filed and responded to them in its Statements of Position, which the Bureau filed with the Clerk of the Commission on April 29, 2016. The Bureau made changes to several of the definitions and consumer protection provisions in response to the comments. The Bureau also clarified that a Notary Public acting on behalf of a settlement agent may obtain signatures on closing documents without being licensed or registered provided that the Notary Public does not receive or handle money, and/or does not sell, solicit, or negotiate a contract of title insurance. The Bureau recommended...
Connect with industry advocacy at VLTA's Action Page.
Virginia Land Title Association
A lot has changed in our industry, but our strong commitment to our members remains the same. Since its formation in 1974, Virginia Land Title Association has worked to protect the land title industry in Virginia. Amid the changing regulations and the ups and downs of the market, VLTA has stood by its members to offer high-quality education, networking opportunities, and legislative advocacy. We stand for the highest principles of professionalism and consumer protection, advocating for the safe and efficient transfer of real property. A home is likely the largest investment any individual will make in his or her lifetime, and by ensuring accurate searches, promoting fair and professional closings, and supporting important insurance coverages, VLTA protects Virginia's consumers...and the American Dream. Learn more about VLTA member benefits
Access online learning at the Virginia Land Title Institute
2016 Annual Convention
Thank you all so much for joining VLTA in Richmond for the 2016 Annual Convention. With over 225 guests from around the Commonwealth, we were honored by the turnout! We hope you all had a wonderful time. We are busy filing your credits - be sure to check your transcript to verify you have received credit for all your hard work! We hope to see you next year, June 1-3, 2017 in Lansdowne for the 2017 Annual Convention.
Wow—I can’t believe a whole year has gone by already since I became President of the Virginia Land Title Association. Looking back at what we accomplished together, I am amazed. Here are the highlights for me...
Get Free CE/CLE
Membership BenefitsThis year, VLTA is proud to offer members the option to add FREE continuing education to your membership. Our new online learning portal is a world-class continuing education system that allows you to take classes from the convenience of your laptop, tablet, or phone. Earn all your CE requirements through VLTA! Visit www.pathlms.com/vlta for more information or contact us at firstname.lastname@example.org.