Posted by Kaci/TX on 7/16/10 4:40pm
Msg #345226

tc/atty office???

Okay all the closings I've ever done have been in people's homes. Equifax called me to do a cash out refi and they want it done in a rural town in an attorney's office or TC. Do I just call the local places and see who will let me use their office???

Reply by Pamela Hoyle on 7/16/10 5:04pm
Msg #345229

Kaci--I'm not sure, but I think that TX law states that HELOCs have to be @ a TC or atty office...Maybe p.m. John Schenk? And yes, that's probably what I'd do....call.

Reply by CopperheadVA on 7/16/10 5:10pm
Msg #345230

How about Equifax does the legwork to secure the atty's office or TC? Why are you supposed to find a location for them?

I agree with Pamela, some Texas loans are required to be closed in an atty's office. Need someone from TX to respond with the details.

Reply by Kaci/TX on 7/16/10 5:20pm
Msg #345234

Thats, found one who will allow me to use their conference room for no charge.

Reply by EastTxNotary on 7/16/10 7:15pm
Msg #345276

Good for you, Kaci, for finding one that will accommodate the courtesy closing at no charge. I cover a 10 county area and have also been fortunate to find a couple of attorneys that don't charge, but I've also initiated a relationship with a couple others by offering to pay them for the conference room usage. Most TC's are ok with adding that fee on to yours, provided you give them the information upfront (I pay the attorney directly, the TC pays me).

I just got a call for a cash out today (Nebraska TC did not make me aware that it was a cash out and then they were closed when I tried to call them back) for a State Farm Loan. Worked out fine...called BO to confirm, asked him if there is a State Farm office near his home...there is...we scheduled the appointment for that office.

It WILL help your business if you can get lined out with a few attorney/title company contacts. I even have one attorney that will let me use his office for evening and weekend appointments. The TC's LOVE that!

Reply by Kaci/TX on 7/16/10 7:58pm
Msg #345292

It's difficult for me because I travel to so many small towns in many counties, like this is the first time for me to go to this town, but it's nice to have a contact there now if I ever need them again. The attorney's secretary was so happy that she wasn't doing the closing that she happily agreed to allow me to use their conference room.

Reply by EastTxNotary on 7/16/10 8:58pm
Msg #345305

BrendaTX has mentioned on several occasions that many attorneys and TC's view us as competition and therefore don't want to let us do courtesy closings in their offices. One example of that is Huntsville...I've tried every which way and they just won't let me in. Most national TC's know they're going to have to pay the local TC or Atty in Huntsville...or schedule the closing outside of town.

And I certainly understand many small towns in many counties...but I'll take my rural area any day rather than drive into Houston.

Reply by Kaci/TX on 7/16/10 5:33pm
Msg #345237

Re: is there anything else I should know?

I've done tons of refi's but this is my first HELOC, anything new I should know?

Reply by Hugh Nations Signing Agents of Austin on 7/16/10 5:37pm
Msg #345238

Re: is there anything else I should know?

Texas, alone among the 50 states, requires that most home equity loans be closed in an office of the lender, in the office of a title company or an attorney. Neither the title company nor the attorney has to be associated with the loan in any way; the closing simply has to be under the roof of one of those two entities. The rule does not apply to reverse mortgages, which can be closed anywhere.

Reply by Kaci/TX on 7/16/10 5:42pm
Msg #345239

Re: is there anything else I should know?

Thanks Hugh!!

Funny thing is, they didn't want to meet my fee, but called back 4 hours later to accept it.

Reply by Hugh Nations Signing Agents of Austin on 7/16/10 7:42pm
Msg #345289

The fee

Closing in a HELOC-acceptable office in Texas is an additional service to the lender, and you should charge accordingly, just as you would charge extra for a closing conducted in a language other than English. You may wish to pay the attorney whose office you use, to keep them happy and to maintain access. Like Nina, I pay $25; it is a direct cost to me, and I pass it on to the party which hires me.

Reply by Nina Thomas on 7/16/10 6:19pm
Msg #345259

Re: is there anything else I should know?

HELOC's , by Texas state law, must take place in an attorny office or title company. If your in Texas it is really important to establish yourself with an attorney so you always have a place to sign. I pay my attorney office $25 for the use of a signing table, the law does not require the attorney be present. In my city, there is no title company that allows courtsey closings and some companies insist on a title company. I make sure the attorney is paid before I leave and last year my attorney fees exceeded $2,000. I have found that smaller firms are easier to deal with and I make sure they are happy. I went through about 6 firms before finding one that always had room for me and never haggled over the fee. It is worth your time to get out a phonebook and start calling them.