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The Joy of Quiet - Leigh Attridge/MA
12/30/2011 9:21:09 AM (4129 views)

[+] Coast to Coast dead beat company - Marian Severance/PA (6 replies)
12/29/2011 7:07:29 AM (3414 views)

[+] Comment on "Title Agent Gets Two Years for Stealing Escrow Money to Buy Her Home" - Source of Title/OH (5 replies)
12/28/2011 2:19:22 PM (2944 views)

[+] Commission advances? Now this is scarey - CHARLENE  PERRY/MD (1 reply)
12/28/2011 2:18:30 PM (4779 views)

[-] Texas Cash out - LORRAINE CHRISTOPHER/TX (3 replies)
12/27/2011 5:24:03 PM (2957 views)
Re: Texas Cash out - Robert Franco/OH
12/28/2011 10:08:01 AM (5986 views)
Re: Texas Cash out - LORRAINE CHRISTOPHER/TX
12/28/2011 3:36:38 PM (3277 views)
Re: Texas Cash out - Robert Philo/TX
1/3/2012 4:09:50 PM (3448 views)

Lorraine, if the Texas HEL was closed in a restaurant (or any other place not authorized by the Texas constitution), it is certainly voidable and probably void ab initio.  Texas title companies usually issue home equity endorsements whenever they insure a HEL - a T-42 and a T-42.1.  The Texas regulations (Rule P-44) provide, in part:

 "C. The Company may add subparagraph (f) to paragraph 2 of the Equity Loan Mortgage Endorsement (T-42) if it considers the risk insurable, provided that the following requirements are met:
(1) The promissory note secured by the insured mortgage and the insured mortgage must be executed by the borrower(s)/grantor(s) at the office of a title company and the insured mortgage must be acknowledged by the borrower(s)/grantor(s) at the office of a title company. For purposes of this subparagraph C(1), "the office of a title company" shall mean the leased or owned Texas office location(s) of: (a) a title insurance company; or, (b) a direct operation; or, (c) a title insurance agent; or, (d) an attorney conducting the attorney?s business in the name of a title insurance company or direct operation or title insurance agent where the attorney and the attorney?s bona fide employees who close transactions are licensed as escrow officers as provided in Article 9.42.C, Texas Insurance Code.
(2) Subparagraph (f) of paragraph 2 of the Equity Loan Mortgage Endorsement (T-42) must read as follows:
"(f) The extension of credit secured by the lien of the insured mortgage being closed at a location other than the office of the lender, an attorney at law, or a title company, as set forth in Subsection (a)(6)(N) of Section 50, Article XVI, Texas Constitution."
 

So, check the title insurance policy endorsements to see if you hav ecoverage or not for the problem created when the loan was not closed according to constitutional requirements. 

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[+] Express National - Las Vegas non-pay - Anita Binns/IL (15 replies)
12/27/2011 2:26:05 PM (5210 views)

Findthefraud.com - Leigh Attridge/MA
12/22/2011 12:11:27 PM (4699 views)

[+] Abstrax - Deborah Jackson/GA (6 replies)
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335 Million Settlement on C'wide Lending Bias - Leigh Attridge/MA
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[+] Schey v Johnson teardown in Mhead - Leigh Attridge/MA (2 replies)
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[+] Comment on "Rich Bank, Poor Bank" - Source of Title/OH (2 replies)
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[+] Global Data & Need To Know/Search The Nation - Pam Effinger/VA (5 replies)
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[+] Email Scam Heads-Up - Scott Perry/PA (1 reply)
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Rethinking How the Law is Taught - Leigh Attridge/MA
12/17/2011 8:07:18 AM (4284 views)

If you wonder why I sound frustrated when you call me...... - CHARLENE  PERRY/MD
12/15/2011 3:43:26 PM (2748 views)


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