Reply by BrendaTX on 9/11/05 2:43am
Msg #64644
Hello Stacey,
Clay never responds to my posts. I am not sure how I feel about that...oh, but yet again, I digress...I cannot seem to remember that all posts are not designed to be all about me.
Send me an email and tell me about yourself...but in the interim, some Texas info.
Texas will be a bit disappointing to you in volume. As you probably know, without a place to do a HELOC we are SOL. We must do them in a title company or an attorney's office or a lender's branch. We cannot do them in a bwr's home. This is also true for certain types of Home Improvement loans. And, I don't have the sources to cite on purchase loans, but I am sure thereis a reason we cannot do them out side of a title co, lender's office or an attorney's office as well.
Is that stupid enough for you?
This has to do with the fact that Tx was not always able to do a second mortgage on a home. It's just been going on a few years.
The grandfather and wise Texas Lawmakers are fearful that lenders will slip into the ignorant and childlike bwrs' homes and force them to apply for a Heloc. few weeks later they will send Bad Bad Notary Brown back into their home to coerce them into signing the documents. (I hate this rule more now that I know the part about fear of predatory lending practice theory the lawmakers base this on.).
I feel it makes it seem like a Texan cannot make his/her own mind up regarding what's a good loan or what is not.
So, how would a notary force a loan on a bwr with greater ease than the bwr could be forced at the other locations?
Will Notary Brown show up at a couple's home, tie them up, help herself to their chocolate milk, crack all their roasted peanuts, eat them, then litter the floor with the shells?
Just for good measure will she watch That 70's Show and Letterman to let them know who is boss? Then, just like that... she's got total mind control over them in a few short hours. While she's got them drinking the Koolaid like good little bwrs, she will let each of them have one hand free, and promise to release them if they will sign quietly and obediently, right?
When she has the signatures, she undoes their hands and tells them "bye." They give it no more thought and go on to bed without any further concerns about the notary's behvior. No call to the police - nothing. (Crazy!)
It really burns me up that our lawmakers "know best" in this instance; and, it burns me up again to know the lawmakers apparently believe the only honest people in this gig are the attorney, the title company staff, and the lender branch staff. Notary Brown is what? A white collar super thug?
Now, this entire situation is both a conundrum and a oxymoron IMHO. ( Unfortunately, after I sleep I will not be able to remember why I think that, but right now the logic is crystal clear. )
So, that's why you don't hear the phone ringing like in Florida. It will definitely be different.
I wil be glad to chat with you. Like I said, send me a note .
Take care, Brenda
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