I am a Realtor ®, member of the CARTUS Broker network, a USAA ® preferred agent, certified in the ERA® Seller's Security® Plan, and Residential Construction Certified. I rely heavily on customer referrals. Therefore, I strive to provide the very best in customer service and satisfaction. I will work to make your buying or selling experience the best you have ever had! Outstanding service-outstanding results...year after year! Call today! (803).944.9544.
As of January 1, 2010, HUD requires that loan originators provide borrowers with a standard Good Faith Estimate that discloses all key loan terms and closing costs and that the “settlement agent” provide the borrower with a copy of the new HUD1 (this includes the borrower's Good Faith Estimate, key loan terms, interest rate, etc.). The Seller is also given this document for his/her signature and provided with a copy.
In South Carolina, the “settlement agent” is an attorney and the buyer is always represented. Please note that in the case of a dual representation disclosure, an attorney may represent both parties to the closing but still owes the duty of confidentiality to both.
As far as I know, there are no documents produced for a closing that are of public record that disclose loan terms, interest rates, etc.
In the past closing attorneys separated buyers and sellers so as not to disclose the buyers confidential loan information to the sellers. After all, this information really isn’t any of the seller’s business.
Are the new RESPA regulations forcing South Carolina attorneys to violate the attorney-client privilege?