VIRGINA LOAN PROCESSING
Is Virginia a Title State or an Attorney State?
Virginia does not legally require an attorney to close a real estate transaction. Settlement agents, who can be attorneys, title insurance companies, title insurance agents, or licensed real estate brokers, are permitted to handle closings under Virginia law.
Do You Need a License to Outsource Loan Processing in Virginia?
No additional licensing is required on your end as a broker or loan officer. Hancock maintains the appropriate licensing to operate in Virginia.
Is Virginia a Community Property State for Mortgages?
No. Virginia follows common law property rules, not community property rules, which means a non-borrowing spouse is generally not required to sign mortgage documents simply because of their marital status. Signature requirements in Virginia are typically limited to homestead or specific lender conditions rather than a broad spousal consent requirement.
Hancock Processing Services in Virginia
Is Hancock Processing licensed to process loans in Virginia?
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Yes, Hancock maintains the required licensing to operate in Virginia.
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What Loan Types Does Hancock Process in Virginia?
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Conventional, VA, and FHA loans are especially common for Hancock to process in Virginia given the concentration of military and government employment throughout the state.​​​
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​Does Hancock process loans across Northern Virginia and the broader DC metro area?
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Yes, Hancock processes loans statewide in Virginia including Northern Virginia, which is part of the broader DC metro market and one of the highest-volume residential lending markets on the East Coast.