Any persons suffering losses due to the failure of the lender or the settlement agent to cause disbursement as required by this chapter shall be entitled to recover, in addition to other actual damages, double the amount of any interest collected in violation of § 55.1-902 plus reasonable attorney fees incurred in the collection of such damages and interest.

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Terms Used In Virginia Code 55.1-907

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Lender: means any person regularly engaged in making loans secured by mortgages or deeds of trust on real estate. See Virginia Code 55.1-900

1980, c. 730, § 6.1-2.15; 2010, c. 794, § 55-525.15; 2019, c. 712.

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