Posted by nunu on 5/6/11 7:09pm
Msg #382423

Texas Home Equity closing

Well, this takes the cake. I was asked to close a refi and docs were overnighted. I did not have time prior to closing to review the docs and at signing table, low and behold, I see HUD shows money back to borrowers. At that point I start flipping docs and see Home Equity everywhere including a doc that stated the closing was held at the title company, followed by a doc that says borrower HAD recieved copies of signed docs....not true and a copy was not even included with the package. A note from escrow agent said they would forward a copy later. Finally, t here was another affidavit stating borrowers under penalty of perjury HAD received copies of package containing all loan docs. Of course the closing was at 6pm and title was closed. I informed borrowers that by law I could not allow them to sign these docs and Tx law requires HEQ's take place in title or attorney office. All this could have been done had title just done the right thing. I guess they just expected the notary to break all the state laws for their convenience or maybe this was the escrow agents first day on the job. What a day.

Reply by Moneyman/TX on 5/6/11 10:36pm
Msg #382447

Were you hired by a TC, SS, or another SA farming out work? n/m

Reply by nunu on 5/7/11 7:17am
Msg #382452

Re: Were you hired by a TC, SS, or another SA farming out work?

I was hired by ss, dont know why that would make a difference though.

Reply by BrendaTx on 5/7/11 8:17am
Msg #382458

SS probably did not know what they were supposed to do

and you did well by not signing it, in my opinion.

Reply by nunu on 5/7/11 8:32am
Msg #382461

Re: SS probably did not know what they were supposed to do

ss will be ticked off probably and will probably not be paid but my integrity will still be intact

Reply by Linda_H/FL on 5/7/11 9:31am
Msg #382467

Circle the wagons - you'll be paid

Do your research and get copies of the statutes that back up your position that they MUST close in a title/attorney office and they MUST received copies of the executed docs - you already have the confirmation showing a "refi" - it turned out not to be a refi but a HELOC and that, coupled with your research, will put the burden on the company that hired you - and IMO you SHOULD be paid for THEIR mistake.

You can search here - I believe Brenda once posted a link to the state statute about the executed copies - and this whole location thing in TX has been discussed before...I'm sure you can make your case for being paid.

Nice catch, BTW...

MHO

Reply by Moneyman/TX on 5/8/11 2:14am
Msg #382536

Thanks Brenda. You answered before I could.

Your answer was exactly what I was thinking. Happy Mother's Day!

Reply by Moneyman/TX on 5/8/11 2:20am
Msg #382537

Re: Were you hired by a TC, SS, or another SA farming out work?

Brenda answered just what I was thinking.

"why that would make a difference" -- In your OP you indicated that you thought title was the one that made the mistake ("All this could have been done had title just done the right thing."). Since you were not hired by title, I just wanted to point out to you that the mistake was on the SS part. Just in case you happen to talk to anyone at title about it or have issues with getting paid.

FWIW, You did right by not allowing them to sign.