In a contributed article for the May issue of Lone Star LO, National Mortgage Professional’s quarterly, Texas-focused publication, Peter Idziak addressed the necessity of independent lender counsel under Texas law. In the article, Idziak discusses Section 83.001 of the Texas Government Code, which requires mortgage loan closing documents to be prepared or reviewed by a Texas-licensed attorney.

In his article, Idziak highlights the conflicts of interest that arise when using a law firm or lawyer owned by or affiliated with the title company. He also explains that title-company-affiliated law firms may not comply with Texas requirements for preparing loan closing documents, noting that Texas courts have clarified that attorneys employed directly by a title company do not properly fulfill the requirements.

Read the full article – Beware Of Ownership Interest – for additional details.