TEXAS LOAN PROCESSING
Is Texas a Title State or an Attorney State?
Texas is a title state, title and escrow companies handle the closing process and no attorney needs to be present at the table. That said, Texas law (Section 83.001 of the Texas Government Code) requires that loan closing documents be prepared or reviewed by a Texas-licensed attorney before closing. This happens behind the scenes through the title company's relationship with an attorney, it doesn't change how a processor's day to day work looks.
Do You Need a License to Outsource Loan Processing in Texas?
No, as the broker or loan officer you don't need any additional licensing to work with a third-party processor. Hancock holds its own company NMLS license (NMLS# 2191187) and is licensed to do business in Texas, so there's nothing extra required on your end to bring a Hancock processor onto your files.
Is Texas a Community Property State for Mortgages?
Yes. Texas is one of nine community property states, which means if a borrower is married, the non-borrowing spouse will generally need to sign certain mortgage documents, such as the deed of trust, even if they aren't on the loan itself.
Hancock Processing Services in Texas
Is Hancock Processing licensed to process loans in Texas?
​
Yes, Hancock holds an active NMLS company license and is licensed to operate in Texas.
​
​
What Loan Types Does Hancock Process in Texas?
​
Conventional, FHA, VA, and DSCR loans are all common given the state's size and the mix of primary residence and investor activity across major metro areas.​​​
​​
​​​​​
Does working with Hancock change how I'm licensed in Texas?
​
No, your own licensing as a broker or loan officer is unaffected. Hancock's processors work inside your existing systems under your license.