Posted by Cindy/FL on 3/6/05 8:07am
Msg #23902

Crespa Certification for Virginia

Can someone please help me understand this? I am very confused. In order to perform closings in Virginia, does one HAVE to be CRESPA certified or do you only need this if you are handling funds? Also, I read something about having to register with the Bar Association--am I reading this correctly?

I am commissioned in Viginia also and MAY be relocating there shortly. If I do relocate, I would like to begin marketing myself in May, but would like to have all my ducks in a row prior to doing this. AND YES, I USED THE SEARCH BUTTON--as I stated I am VERY confused! . Because I am employed by a national mortgage company, I know peak season SHOULD begin shortly as the applications are rolling in and I do not want anything to hinder my success in this business.

Thanks to all!!

Reply by Jason on 3/6/05 5:33pm
Msg #23985

Hi Cindy, I have been a Virginia NSA for 6 years. You only need to be CRESPA certified if your handle funds. However the CRESPA wording is very confusing. In order to be CRESPA certified you have to be an attorney, real estate broker, or a licensed title insurance agent. If you are one of these 3 things then you get the correct amount of bond insurance and E&O insurance, and then apply with the Virginia State Bar. CRESPA is a law to protect borrowers against losing their money, and to make sure that it is handled through escorw legally. CRESPA became law in 1997. Also what part of Virginia are you moving to. There are just a very few lenders that I have come across that want the CRESPA cert, but I think it is mainly due to confussion. For example a few months ago, I tried to sign up with a title company, they stated for Virginia that they only use CRESPA certified people. However 2 months ago this same company got a better understanding of the law, and I now do signings for them.

Reply by Cindy/FL on 3/6/05 6:21pm
Msg #24000

Thanks, Jason, for clarifying that for me. I am relocating to the Hampton Roads area of Virginia--VA BEACH-NORFOLK area. I want to start marketing myself soon in this area and hopefully I will be as successful there as I am here in Florida.

Thanks again!!

Reply by Shannon/Va on 3/6/05 10:25pm
Msg #24029

Cindy, I live in Chesapeake and cover all of Hampton Roads. I can tell you that you will not be able to get any work from any local title companies. I have been doing this for 12 years here in Va and kmnow alot of people from attorneys and title companies to the large insurance companies. Your main marketing focus around here should be national vendor companies. There is an overload of notaries here. Email me if you need any other info. [e-mail address] I would be happy to show you around the areas once you get here. It is a great place to live. What part you moving too, I assume you are military???