Posted by Loretta Reed on 10/31/06 8:05am
Msg #156395

Loans in DE

I got a call from my brother in law last night that is the manager for Beneficial Mortgage. He said that all Delaware loans are on hold and cannot be closed because of a law that says that attorneys that close loans also have to fund them. Wow!!! I wonder what will happen. Sounds to me that attorneys started this and now want all the money. I don't get it.

Reply by Kevin/Ct on 11/1/06 8:00am
Msg #156522

Isn't Deleaware one of the attorney states. If so, this is not all that surprising. It simply means that the attorney has to act as the disbursement agent. This is usually the case in attorney closings.