I have been a signing agent for several months now here in Texas. I have gotten a number of requests to do cash back refinances, but I always decline. My understanding is that to do a cash back refi in Texas it has to be done at a title company or lender’s office. How can I do that? Do I just need to find a title company that will let me use a room in their office if I need it? I have done quite a few refis, but the cash back ones are a mystery to me as far as doing the signing.
Any info you can provide will be appreciated.
Yes - that or an attorney’s office - and when you find out the fee for use of that office, let the hiring party know so your fee is increased accordingly. Make sure they send you a revised confirmation with the added fee included - the confirmation is your only proof that they agreed to pay XX amount.
Or in the alternative, you can let hiring party know in advance that the signing must take place in an attorney’s office or title company and see if they want to line this up for you - they may know someone who knows someone… 
.
2 Likes
Thank you so much, LindaH. One follow up question. Do you know the reason the signing has to be in such a specific location? Does it have to do with the money the borrower is getting? I’m assuming the signing is pretty much the same as a regular refinance with some additional docs and the borrower being wired the money or given a check.
My best answer to you is it is a statutory mandate in the state of Texas - for further reasoning you’d have to ask your state legislature
What’s also required in these is that the borrowers receive a copy of the signed docs - not just a blank copy but a copy of the already signed docs - so maybe that’s why? So you have access to a copy machine? This requirement, also, is in Texas statutes.
1 Like
Thank you so much for your help, Linda!
