Gregg & Valby, LLP

Texas Document Preparation and Review

Texas Document Preparation and Review

Texas Document Preparation and Review: Our teams can accurately prepare or review your Texas loans, as required by Chapter 83 of the Texas Government Code, and provide you with legal support to ensure that your loans are documented properly and legal issues have been addressed.

Customer service, timeliness, and a sincere desire to exceed expectations on every file are the ingredients of our secret recipe for keeping our clients happy. What convinced them to become Gregg & Valby clients? Our reputation for excellence in providing compliant documents and maintaining high levels of customer service! With more than 40 years of experience creating and reviewing compliant residential mortgage documents, more than 1,000,000 loan closing packages, with virtually no mistakes, we want and deserve your trust. We want your business!

Document Preparation

Document Preparation: Time is a precious commodity, which is why we are focused on delivering customized loan document packages to your investor's specifications in the most expeditious way possible.

Our staff prepares complete loan closing packages for delivery to clients or settlement agents. Time-tested procedures are in place to ensure that all documents prepared by us or through our proprietary software, GVDocs, are 100% accurate and compliant in all respects. Complete loan closing packages include all of the legal documents necessary for the client to close the loan, as well as any additional documents you or your investors might request. When you provide us with a data export and a few source documents, we will have all of the variable data we need to create and deliver your loan packages.

GVDocs is readily adaptable to meet the client's needs in all respects, including electronic interfaces with a client's loan origination system. We are able to customize all documents to the client's specifications and create an electronic workflow and delivery of the documents to the settlement agent. Depending upon volumes, these services can be provided centrally in our offices or remotely in our client’s offices with their employees or our employees. Sample closing packages are available upon request.

Document Review

Document Review: Our staff receives and analyzes the documents generated by our clients that have their own document preparation capabilities, including GVDocs, but require that we review the legal documents to ensure quality control or as required by applicable unauthorized practice of law statutes.

Additionally while clients may generate their own notes, security instruments, riders, etc., we have the ability to prepare supplemental documents that will augment the loan closing package to meet federal and state regulations, as well as investor requirements.

These review services can be provided centrally in our offices or remotely in our client’s offices with their employees or our employees. Typically, and as an example, once the loan closing package has been prepared by the client, the legal documents and source documents are provided to our staff for a thorough legal and regulatory analysis and evaluation.

At a minimum, the source documents and legal documents will include:

  • Source Documents
    • Title commitment, including completed schedules A, B, and C
    • Survey
    • Earnest money contract (if applicable)
  • Legal Documents
    • Closing instructions
    • Note
    • Deed of trust
    • Any riders

The written results of the review are provided to the client, including a response sheet outlining any recommendations for verification, notice of legal discrepancies, or conditions for closing. The entire review process is usually completed within 90 minutes.

Home Equity Lending

We have been helping clients navigate the Texas Home Equity landscape since home equity lending was authorized by voters in 1998. Since then, our knowledgeable and experienced staff has been preparing compliant home equity packages for some of the largest lenders in the country. We can offer the same service to you!

Do you have a question concerning:

  • What property can be used as collateral?
  • The "Non-Recourse" Rule?
  • The 80% LTV Rule?
  • The 2% Fee Restriction Rule?
  • What kinds of loan programs are acceptable?
  • How many home equity loans a borrower may have at one time?
  • Various timing rules related to the closing and refinancing of home equity loans?
  • What kinds of documents to prepare?

Our attorneys and staff are more than capable and willing to answer all of your questions pertaining to home equity lending.

Texas Home Equity loans are notorious for unique rules and regulations that must be followed in order for a lender's home equity lien to be valid. We can assist you in avoiding potentially costly violations of the Texas Constitution. We can even provide Home Equity training for your employees!

Construction Lending

We have years of experience in the preparation of residential mortgage lending construction packages. Whether you need interim construction loan packages, one-time close loan packages, Fannie Mae HomeStyle Renovation loan packages, or FHA 203(k) Rehabilitation loan packages, our knowledgeable and experienced attorneys and staff can facilitate your needs.

Construction lending typically involves additional requirements and documents in order to establish valid liens against certain types of property. We have successfully assisted several of the nation's largest lenders in the preparation of their compliant construction loan documents. We have also consulted with lenders, builders, and contractors in establishing business relationships.

We have the resources readily available to assist you with construction lending on a nationwide basis.