Register
Log In
Forget your Password?

Home
Directory
Bulletins
Forums
Blogs
Articles
Links
Classifieds
About Us
Contact Us
Advertise
FAQ
Privacy Policy


Discussion
<< get older messagesget newer messages >>
to post a message: login - or - register | search messages | show all replies



The Joy of Quiet - Leigh Attridge/MA
12/30/2011 9:21:09 AM (4420 views)

[+] Coast to Coast dead beat company - Marian Severance/PA (6 replies)
12/29/2011 7:07:29 AM (3716 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 (3326 views)

[+] Commission advances? Now this is scarey - CHARLENE  PERRY/MD (1 reply)
12/28/2011 2:18:30 PM (5144 views)

[-] Texas Cash out - LORRAINE CHRISTOPHER/TX (3 replies)
12/27/2011 5:24:03 PM (3284 views)
Re: Texas Cash out - Robert Franco/OH
12/28/2011 10:08:01 AM (6820 views)
Re: Texas Cash out - LORRAINE CHRISTOPHER/TX
12/28/2011 3:36:38 PM (4075 views)
Re: Texas Cash out - Robert Philo/TX
1/3/2012 4:09:50 PM (4301 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. 

to post a reply: login - or - register






[+] Express National - Las Vegas non-pay - Anita Binns/IL (15 replies)
12/27/2011 2:26:05 PM (5528 views)

Findthefraud.com - Leigh Attridge/MA
12/22/2011 12:11:27 PM (5009 views)

[+] Abstrax - Deborah Jackson/GA (6 replies)
12/22/2011 11:12:53 AM (4046 views)

335 Million Settlement on C'wide Lending Bias - Leigh Attridge/MA
12/21/2011 6:58:31 PM (4441 views)

[+] Schey v Johnson teardown in Mhead - Leigh Attridge/MA (2 replies)
12/20/2011 4:28:14 PM (5286 views)

[+] Comment on "Rich Bank, Poor Bank" - Source of Title/OH (2 replies)
12/20/2011 1:56:32 PM (3063 views)

[+] Global Data & Need To Know/Search The Nation - Pam Effinger/VA (5 replies)
12/19/2011 12:13:37 PM (3642 views)

[+] Email Scam Heads-Up - Scott Perry/PA (1 reply)
12/17/2011 12:22:53 PM (4584 views)

Rethinking How the Law is Taught - Leigh Attridge/MA
12/17/2011 8:07:18 AM (4530 views)

If you wonder why I sound frustrated when you call me...... - CHARLENE  PERRY/MD
12/15/2011 3:43:26 PM (3069 views)


<< get older messagesget newer messages >>

DISCLAIMER: These Message Forums are un-moderated and Source of Title does not endorse the content of any of the posts. Source of Title discourages libelous comments and you, as the sole creator of the content, take full responsibility for your remarks.
Directory

The Source of Title Business directory has 8975 listed companies.

Leave feedback on a company:
SOT ID #:  learn more...
DRN Title Search
Blogs

Read other users' blogs-- or start your own!

Most Recent Blog Posts:

Beneath Every Closing Lies a Story
Michael Stelzer's Blog
2026/07/18
0 comments

Residential Appraisers: Reclaim Your Time
Will Duncan 's Blog
2026/07/09
0 comments

ATTENTION CIOs, CTOs, VENDOR MANAGERS, AND SUPPLIER MANAGERS
Will Duncan 's Blog
2026/06/15
0 comments

Articles

Source of Title articles help to keep you informed on the state of the title industry.

Multifamily Gains Lift Overall Starts Despite Single-Family Decline
Strong multifamily growth pushed overall housing starts higher in June, while single-family production remained sluggish...
June New Home Purchase Mortgage Applications Increased 2.4 Percent
“Applications to purchase new homes continued to run stronger than last year’s pace. However, there was a de...
MISMO Enhances SMART Doc® Implementation Guide to Support Secure, Digital Mortgage Processes
MISMO®, the real estate finance industry's standards organization, today announced the release of an updated versio...
Builder Sentiment Stays Weak as Affordability Concerns Persist
“Many potential buyers remain on the sidelines as they wait for lower mortgage rates, more certainty on inflation ...
NAR Pending Home Sales Report Shows 5.4% Decrease in June
“The highest mortgage rates in nearly a year and the record-high national median home price together are contribut...

Search Articles:
browse...

Classifieds

Buy, sell, or trade! Browse the ads or post your own!

© 2020, Source of Title.