For the second time, Virginia banking regulators lost their bid to restrict prepayment penalties on so-called alternative mortgages originated by state-chartered lenders under federal lending rules. In a Feb. 7 decision, a federal appeals court upheld a lower court ruling that a 1982 federal parity law preempts state law to the extent that it authorizes state-chartered lenders to engage in alternative mortgage transactions so long as they comply with that federal law.