Posted by BP_WV on 6/27/05 12:06am
Msg #48049

Attorney State Question

I live in WV (an attorney state). Since I am in an attorney state, why is it that I am mostly contacted by title companies and signing services? I also do steady work for area attorneys and know that when I am contracted for a closing by them, I must take a letter to the borrowers showing that I am acting as an agent for the attorney.

Reply by curious1 on 6/27/05 1:20am
Msg #48053

What does it mean exactly?

Reply by curious1 on 6/27/05 1:21am
Msg #48054

Re: What does it mean exactly?

What does it mean to be an "Attorney State"?

Reply by Barry/FL on 6/27/05 7:15am
Msg #48068

Re: What does it mean exactly?

It means attorneys are supposed to close loans.

Reply by Barry/FL on 6/27/05 7:14am
Msg #48067

Many TCs and SSs are unaware of the six attorney states. I did not know a Signing Agent can act as an agent for an attorney and close a loan. Is this what I understand by your message?

Reply by Nancy in Florida on 6/27/05 7:29am
Msg #48070

When an Attorney is hired to close a loan for a Lender than that Attorney is acting as the Lender's Attorney and is representing the Lender at the closing and must make sure the Lenders best interest is met. A Signing Agent is a dis-interested thrid party, we do not represent anyone's best interest at the closing. We are to be neutrual.

Even though an attorney is assigned to close the loan, an agent of the attorney, i.e., a RE Paralegal can perform the actually closing and I am sure the reason you need to take that letter is so the borrowers know that you are there in on behalf of the Lender.

Reply by Lawyer_GA on 6/27/05 9:26am
Msg #48089

Re: Attorney State Question - Be careful!!!

It's not always true that an individual simply acting on behalf of an Attorney in an "Attorney State" will be authorized to close the loan in the Attorney's absence. In Georgia, for instance, the Attorney/Notary Signing Agent must attend the actual closing; he or she cannot simply send someone in his or her stead. There appear to be individuals engaging in the UPL in this State, at least, under the mistaken impression that they may close loans as long as an Attorney "signs off" on the same.

Reply by BrendaTX on 6/27/05 7:50am
Msg #48071

Re: Attorney State Question - Jumping in for a quick remark:

Texas is not one...Even though I have been told three times that the NNA has said that it is. However, I do not know this for certain since I have not called to ask them. It's okay with me if they continue to give out that information.

In Texas, home equity lines of credit and cash-outs must be closed in the LOCATION of an attorney's office, a lender branch or a title company. My research into this has shown that those who interpret the Texas Constitution (not sure which commission/committee it was) say that the purpose of this is to keep predatory lending out of the bwr's home.

The point of this post is that even if you are an attorney in Texas who does HELOC/cash out closings...you still cannot go to the bwr's home if you take the Tx Constitution seriously...which I do.

Reply by Joy Goulet on 10/20/06 9:21am
Msg #153834

Re: Attorney State Question - Jumping in for a quick remark:

Hello Brenda,

I just moved from CA to TX. I see you are experienced here in TX. I was wondering whether you would answer a couple of questions please for me.

Can HELOC's and cash outs be done at 'any bank' or do they have to be at 'the bank branch of the lender'? I was told by Richmond Title and Escrow services out of Plano TX to get a relationship with either a bank, attorney or title company, as they say they will be able to keep me busier if I do.

How should I go about getting a relationship with either an attorney, bank or title company? Walking in places and calling has not been serving me very well. Do you know where there might be a standard letter? I approached a title company but they said allowing me to use there space for signings would be a conflict of interest for them since they do 'courtesy signings'.

Thank you for any help/advice you can give!