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



[-] Texas Cash out - LORRAINE CHRISTOPHER/TX (3 replies)
12/27/2011 5:24:03 PM (3185 views)
Re: Texas Cash out - Robert Franco/OH
12/28/2011 10:08:01 AM (6659 views)
Re: Texas Cash out - LORRAINE CHRISTOPHER/TX
12/28/2011 3:36:38 PM (3917 views)
Re: Texas Cash out - Robert Philo/TX
1/3/2012 4:09:50 PM (4147 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 (5395 views)

Findthefraud.com - Leigh Attridge/MA
12/22/2011 12:11:27 PM (4875 views)

[+] Abstrax - Deborah Jackson/GA (6 replies)
12/22/2011 11:12:53 AM (3919 views)

335 Million Settlement on C'wide Lending Bias - Leigh Attridge/MA
12/21/2011 6:58:31 PM (4335 views)




[+] Schey v Johnson teardown in Mhead - Leigh Attridge/MA (2 replies)
12/20/2011 4:28:14 PM (5195 views)

[+] Comment on "Rich Bank, Poor Bank" - Source of Title/OH (2 replies)
12/20/2011 1:56:32 PM (2952 views)

[+] Global Data & Need To Know/Search The Nation - Pam Effinger/VA (5 replies)
12/19/2011 12:13:37 PM (3558 views)

[+] Email Scam Heads-Up - Scott Perry/PA (1 reply)
12/17/2011 12:22:53 PM (4511 views)

Rethinking How the Law is Taught - Leigh Attridge/MA
12/17/2011 8:07:18 AM (4464 views)

If you wonder why I sound frustrated when you call me...... - CHARLENE  PERRY/MD
12/15/2011 3:43:26 PM (2985 views)

[+] Rush for Gas Rights Ignites Battle for Control of Land - Leigh Attridge/MA (1 reply)
12/14/2011 5:18:05 PM (4854 views)

[+] Dodd-Frank and QRM's - CHARLENE  PERRY/MD (3 replies)
12/13/2011 2:22:35 PM (3405 views)

[+] Comment on "PA Government Official Arrested for Lying about Connection to Title Company" - Source of Title/OH (2 replies)
12/12/2011 12:47:41 PM (3081 views)

[+] Strategic Defaults - What's good for American Airlines might be good for borrowers - Leigh Attridge/MA (7 replies)
12/12/2011 10:24:24 AM (4732 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 8973 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:

What Is Title Insurance & Benefits
Michael Stelzer's Blog
2026/03/14
0 comments

The Source of Title - Part I: Freedom Written, Freedom Insured
Ben DuBay's Blog
2026/02/15
0 comments

Shared Driveway Agreements
Marissa Berends's Blog
2025/12/10
0 comments

Articles

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

Partner Releases 2026 Guide to ALTA/NSPS Land Title Surveys to Help Real Estate Stakeholders Navigate Updated Industry Standards
Now in its fourth iteration, Partner's ALTA/NSPS Guide reflects the firm's continued commitment to educating the market ...
Mortgage Applications Decrease in Latest MBA Weekly Survey
“The prospect of easing energy prices given the evolving situation in the Middle East brought mortgage rates sligh...
Economic Uncertainty Slows Single-Family Construction Across All Geographies
“Markets continue to shift single-family construction activity away from high-density population centers toward mo...
MBA Statement on the VA's Updated Loss Mitigation Policies
“We are pleased to see that veteran homeowners will have access to a key loss mitigation option available to other...
Builders Call Attention to 'Silver Tsunami' Supply Constraints During Homeownership Month
“As older Americans stay in their homes longer, the silver tsunami phenomenon won’t solve the housing shorta...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.