Legal Question in Real Estate Law in Georgia

Loan Closings

Can a real estate broker close a re-finance loan in Georgia with approval of the lender and title company?


Asked on 11/11/03, 3:44 pm

1 Answer from Attorneys
Harold Holcombe Harold D. Holcombe, P.C.

Re: Loan Closings

Georgia has allowed some closings to be conducted by non-lawyers in the past; the new ruling this week has stopped that. I haven't read the ruling, but I don't believe the broker can close the loan legally. This is because of the many legal problems that can result from a poorly closed loan. I'm a little surprised that a lender and title company would agree to that, can't imagine that the broker is a licensed title agent or has Errors and Omission insurance.

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Answered on 11/12/03, 11:17 am


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