{"data":{"id":"us-va/10vac5-160-40","jurisdiction":"us-va","citation":"10VAC5-160-40","heading":"Schedule of annual fees for the examination, supervision, and regulation of mortgage lenders and mortgage brokers","body":"Pursuant to § 6.2-1612 of the Code of Virginia, the  commission sets the following schedule of annual fees to be paid by mortgage lenders and mortgage brokers required to be licensed under Chapter 16. Such fees are to defray the costs of examination, supervision, and regulation of such lenders and brokers by the Bureau of Financial Institutions. The fees are related to the actual costs of the  bureau, to the volume of business of the lenders and brokers, and to other factors relating to supervision and regulation.\n\nSCHEDULE\n\nLENDER LICENSEE: Minimum fee -- $800, plus $6.60 per loan\n\nBROKER LICENSEE: Minimum fee -- $400, plus $6.60 per loan\n\nDUAL AUTHORITY (LENDER/BROKER): Minimum fee -- $1,200, plus  $6.60 per loan\n\nThe annual fee for each mortgage lender shall be computed on the basis of the number of mortgage loans, as defined in § 6.2-1600 of the Code of Virginia, made or originated during the calendar year preceding the year of assessment. The annual fee for each mortgage broker shall be based on the number of such loans brokered. The annual fee for each mortgage lender/broker shall be based on the total number of mortgage loans made or originated and mortgage loans brokered. The annual fee computed using the above schedule shall be rounded down to the nearest whole dollar.\n\nFees shall be assessed on or before April 25 for the current calendar year. By law the fee must be paid on or before May 25.\n\nThe  quarterly mortgage call reports filed through the Registry by each licensee  shall provide the basis for licensee assessment,  that is, the number of loans made or brokered. If the  required quarterly mortgage call reports of a licensee  have not been filed by the assessment date, a provisional fee, subject to adjustment when the report is filed, shall be assessed. In cases where a license or additional authority has been granted between January 1 and March 31, one of the following fees or additional fee shall be assessed: lender -- $400; broker -- $200; lender/broker -- $600.\n\nFees prescribed and assessed by this schedule are apart from, and do not include, the reimbursement for expenses permitted by subsection C of § 6.2-1612 of the Code of Virginia.","path":["Title 10. Finance And Financial Institutions","Agency 5. State Corporation Commission","Chapter 160. Rules Governing Mortgage Lenders and Brokers"],"source_url":"https://law.lis.virginia.gov/admincode/title10/agency5/chapter160/section40/","current_through":"2026 Regular Session (effective July 1, 2026)","vintage":"","retrieved_at":"2026-09-14T04:49:34Z","sha256":"326c3967e549b41eaff8cc519ca21f7ee1fe7ea7121c7869d65d0bd7f48dcb7e","source_id":"us-va-vac","stale":false,"prev":"us-va/10vac5-160-30","next":"us-va/10vac5-160-50"},"notice":"GroundRules: Original legal text. Not legal advice."}