WASHINGTON DC LOAN PROCESSING
Does Washington D.C. Require an Attorney for Mortgage Closings?
Washington D.C. falls somewhere between a title state and a mandatory attorney state. Closings in the District are typically conducted by either a closing attorney or a licensed settlement/title agent, both are permitted under DC law. Attorney involvement is common and often preferred by lenders in the DC market, but it is not a strict legal requirement the way it is in Georgia or North Carolina. In practice, most DC closings involve either a real estate attorney or an attorney-staffed title company, so processors working DC files should expect to coordinate with a settlement attorney's office in most cases.
Is Washington D.C. a Community Property Jurisdiction?
No. Washington D.C. follows common law property rules, not community property rules. A non-borrowing spouse is generally not required to sign mortgage documents simply because of marital status, though specific lender requirements or title conditions may still apply depending on the loan type.
How Is Mortgage Processing Regulated in Washington D.C.?
Mortgage companies operating in DC are licensed and regulated by the Department of Insurance, Securities and Banking (DISB) rather than a state banking regulator. Hancock holds the appropriate licensing to process loans in Washington D.C., so there is nothing additional required on your end as a broker or loan officer to bring Hancock processors onto your DC files.
Hancock Processing Services in Washington DC
Is Hancock licensed to process loans in Washington D.C.?
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Yes, Hancock holds the appropriate licensing issued through the DC Department of Insurance, Securities and Banking to operate in the District.
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What Loan Types Does Hancock Process in Washington D.C.?
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Conventional, FHA, and VA loans are common in the DC market. The District also sees meaningful volume of high balance and jumbo files given the area's home prices, and Government loans are especially prevalent given the concentration of federal employment in and around the city.​
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Does Hancock process high balance and jumbo loans in Washington D.C.?​
Yes. Given Washington D.C.'s home prices, high balance and jumbo loan volume is a meaningful part of the market. Hancock's processors handle high balance and jumbo files in DC the same way as any other loan type, inside your existing systems with the same dedicated processor on every file.