State Guides
What brokers and loan officers should know about closings and property rules in Massachusetts, and how Hancock Processing works your files there.
Massachusetts is an attorney state. The state's highest court has held that residential mortgage closings require not only the presence but the substantive participation of an attorney representing the lender. This is a legal requirement, not a regional custom.
No. Massachusetts is a common law property state, and dower and curtesy have been abolished. Under the state's homestead law, a mortgage signed by every owner on title takes priority over the homestead without the signature of a spouse who isn't an owner, so a non-borrowing spouse who isn't on title generally doesn't need to sign the mortgage.
Yes. A lender may not knowingly refinance a home loan made within the past five years unless the refinance is in the borrower's interest, and the lender must make that determination, and date a worksheet showing how it decided, no later than closing. FHA, VA and other government agency loans, Qualified Mortgages and certain other loans automatically meet the standard, but the worksheet is still required.
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Massachusetts
All of them. We process every loan type we offer in Massachusetts, including conventional, FHA, VA, USDA, jumbo, Non-QM and DSCR loans, from Greater Boston to Worcester, Springfield and Cape Cod.
Our processors coordinate directly with the closing attorney's office on title, conditions and closing documents, and keep the attorney updated as the file moves toward closing.
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