The provisions of this chapter shall not be construed to prohibit a real estate broker, as defined in § 54.1-2100, who is either an owner of an interest in a real estate firm or acts as a real estate broker in a sole proprietorship, from:
1. Having an ownership interest in a mortgage broker or mortgage lender;
2. Receiving returns on investment arising from the real estate broker's ownership interest in a mortgage broker or mortgage lender; or
3. Receiving payment of compensation for services actually performed for a mortgage broker or mortgage lender in which the real estate broker has an ownership interest.
1987, c. 596, § 6.1-422; 1989, c. 667; 1993, c. 183; 1997, c. 228; 2001, cc. 502, 511; 2009, cc. 189, 261; 2010, c. 794.
Structure Code of Virginia
Title 6.2 - Financial Institutions and Services
Chapter 16 - Mortgage Lenders and Mortgage Brokers
§ 6.2-1601. License requirement
§ 6.2-1602. Persons exempt from chapter
§ 6.2-1603. Application for license; form; content; fee
§ 6.2-1605. Investigation of applications
§ 6.2-1607. Licenses; places of business; changes
§ 6.2-1608. Acquisition of control; application
§ 6.2-1609. Retention of books, accounts and records
§ 6.2-1611. Investigations; examinations
§ 6.2-1614. Prohibitions applicable to mortgage lenders and mortgage brokers
§ 6.2-1615. Other prohibitions applicable to mortgage lenders
§ 6.2-1616. Other prohibitions applicable to mortgage brokers
§ 6.2-1617. Application to certain real estate brokers
§ 6.2-1619. Suspension or revocation of license
§ 6.2-1620. Censuring, suspending, or barring persons
§ 6.2-1621. Filing of written report with Commissioner; events affecting activities of licensee
§ 6.2-1622. Cease and desist orders
§ 6.2-1623. Notice of proposed suspension or revocation
§ 6.2-1625. Criminal penalties
§ 6.2-1626. Authority of Attorney General; referral by Commission to Attorney General
§ 6.2-1628. Enforcement of prohibitions on certain practices; recovery of attorney fees
§ 6.2-1629. Prohibited practices; authority of the Attorney General