Dear Agents,
On February 4, 2022, the Virginia Commissioner of Insurance issued administrative letter 2022-01, which prohibits "split settlements" where escrow, settlement and closing services are subject to the Real Estate Settlements Act ("RESA").
Please review the attached Administrative Letter for details, and feel free to contact the undersigned if you have questions about conducting future settlements wherein the buyer and seller wish to be separately represented at closing.
Virginia Underwriter: Chuck Hazelwood, [email protected]
National Underwriting Counsel: Ned Livornese, [email protected]
Thank you,
Your FNTI Team
| File | Action |
|---|---|
| AGTX-2022-003.pdf | Download |
