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Posted by  BrendaTX on 7/26/05 5:01am
(Got it via Snail Mail).
If you are in Texas, or Tennessee, and you get the NNA letter, read the article by Charles N. Faerber - NNA entitled "Does the Closing Session Really Have to Be there To Be Square?"
Faerber is as perplexed as I am on how the HELOC done in a bwr's home is more preditory than having them go to the lender's branch, title company, or law office can be.
He states: "...Texas is hardly the land of milk and honey for Signing Agents." and he's correct. A Texas NSA has to work five to ten times as hard (IMHO) to develop a client base that will yield half the income of the other states' NSAs.
I appreciate that the NNA has been forthcoming about this situation in their newsletter for Texans. I do not agree with everything they say and/or do, of course (and I am sure they do not agree with me either) however, it was good to see them address this situation in my newsletter this month.
If you are from Texas, or Tennessee, this article will be interesting to you. Tennessee is mentioned because of the current SB 1789 which may be a powerplay by Tenn. residential lenders. The bill would twist Tennessee into the situation that Texas has been dealing with.
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