Posted by NCLisa on 5/19/06 1:15pm
Msg #121089

SC refinance rules ....attorney?

I am supposed to be doing a closing this afternoon and the title company tells me that an attorney is required to be on the phone for the entire closing. I've done many SC properties, but never like this.

Reply by SueW/Tn on 5/19/06 1:20pm
Msg #121091

I had one like that a couple of months ago Lisa

It was on a property located in an attorney state and they required an attorney in that state be on the phone. It was a royal pain, borrowers didn't have a portable so we used my cell, I had already alerted SS that we were going to add a bit to the fee if this got too involved. As it turned out the attorney was "late for Court" and only stayed with us for 15 minutes.

Reply by Ilona_OH on 5/19/06 2:15pm
Msg #121100

I did one last week that the attorney

did all the talking saying in SC only they could. I just needed to point to where the BWRS were to sign.So that's what I did and it very well near killed me to keep my mouth shut. It was his first time on the phone and he sure did control the closing. Very interesting!Not a bad experience but it was weird.

Reply by Anonymous on 5/19/06 2:40pm
Msg #121106

S.C. IS ATTORNEY STATE,NOTARIES CAN NOT DO CLOSING IN S.C.& THE TITLE COMPANIES KNOWS THAT,THEY JUST WANT TO SAVE SOME $$$$$$ IF THE STATE BOARD FINDS OUT YOU ARE IN BIG TROUBLE,THATS PRACTICING LAW WITHOUT A LICENSE !!!!!!!!!!!!

Reply by SueW/Tn on 5/19/06 2:42pm
Msg #121107

Lisa is a regular poster and she's in NC n/m

Reply by NCLisa on 5/19/06 9:45pm
Msg #121201

Anon, get a clue. After 16 years, I think I know the difference between practicing law and telling someone what when their first payment date is.

Reply by DeliveryBoy on 8/24/06 4:05am
Msg #140492

Lisa,

I think it is considered practicing law... Not in NC, but yes in SC. I know, doesn't make sense. The key issue is if SC allows notaries to do closings with a lawyer on the phone. I think some states allow this (MA?) if you are working for the lawyer, but beware, some don't. Some require that only a lawyer can do a closing (yes explaining loan terms, etc. IS practicing law in SC!) I think SC says that only lawyers can do closings (no phone lawyer or working for a lawyer), but I'm not sure.

Also, I didn't think you could notarize something if you are in a state you are not licensed in? e.g. if you drove over the border from NC to SC. I thought that you had to be licensed in the state where you are notarizing the docs in?

Reply by lonestar_tx on 5/19/06 6:09pm
Msg #121156

Mail Away closing - SC Attorney State

I worked as a recruiter for FASS and whenever we had a borrower who happened to be in say...PA, or CA, or MN, CT, etc... and the TC needed to close on a SC property, we arranged a mail away.

3 sets of docs go out:
1 for the attorney
2 for the borrower ( 1 notarized copy to send in, 1 for borrower to keep)

Attorney goes over closing instructions with borrowers, and notary is the witness, while attorney answers any questions the borrower may have during the closing.

This is legal, as the attorney does all of the talking, and is "present" and the notary is there to witness the signing of the documents.

Shelley

Reply by NCLisa on 5/19/06 9:51pm
Msg #121205

What a closing...

The TC forgot to send the attorney a copy of the docs. They faxed them over. The attorney called back about an hour after we were supposed to be finished. He didn't understand the terms of the loan, 5 year arm, first 5 years interest only. The attorney was clueless. He's the one recording the Mortgage, and told me that I also needed to have borrower sign my notary ack in SC, never heard of that. The borrower was so unimpressed with the attorney, and told him so. I now remember why I quit working at a law office full time Feb 1, 2006, I don't like most attorneys!!

Reply by NCLisa on 5/19/06 9:51pm
Msg #121206

What a closing...

The TC forgot to send the attorney a copy of the docs. They faxed them over. The attorney called back about an hour after we were supposed to be finished. He didn't understand the terms of the loan, 5 year arm, first 5 years interest only. The attorney was clueless. He's the one recording the Mortgage, and told me that I also needed to have borrower sign my notary ack in SC, never heard of that. The borrower was so unimpressed with the attorney, and told him so. I now remember why I quit working at a law office full time Feb 1, 2006, I don't like most attorneys!!