Master Guidance Line Documents

We have already filed the master Deed of Trust in all major counties in Texas. The advantage is quicker closing and less recording fees. We can also help you electronically record the short form Deed of Trust to guarantee lien priority.

Develop a better relationship with your builder clients through the use of PPDocs' Master Residential Construction & Lot Loan Document Package. The master document package allows lenders and builders the opportunity to streamline the document portion of their residential construction and lot loan transactions. It is a win-win; less time and money spent by the builder-more protections for the lender.

Principals of the organization only have to sign the Master set once a year (or other agreed term) leaving very little to sign for each subsequent supplemental lot or construction transaction under the Master Construction Loan Agreement. Authorized agents for the builder are established in the Master, allowing those agents to sign each of the subsequent individual supplemental packages. The principals no longer have to sign documents for each and every closing. The Short-Form Deed of Trust provided for each transaction under the Master is only 3 pages (in most cases), saving the builder substantial recording fees.

How the Master Works

We have already recorded Master Deeds of Trust in 40 Texas counties. These Master Deeds of Trust are not lender specific; they don’t have to be. At subsequent closings, a lender may reference the pre-recorded Master Deed of Trust in each property specific Short Form Deed of Trust. However, a Master Deed of Trust must be pre-recorded and the original returned with recording information before individual closings can be accommodated in that particular county.

Lender Approves Each Loan and Property

Like all other loans, the lender must get the appropriate approval from their loan committee or other loan approval process for the specific loan agreement and property. Once approved, the lender may create the Master Loan Agreement terms and the Master document set.

After the Master Loan Agreement is created, lender's personnel input the applicable borrower information, loan terms and conditions in our Master Construction Documents online order form. From that information our automated system will produce the Master Construction Loan Agreement, requested guaranties, and any requested entity resolutions. We do these for FREE!

The lender is also given the option to have one Master Promissory Note covering all transactions under the guidance line or individual Notes for each individual construction and lot transaction.

How Subsequent Closings Work

Borrower Requests Specific Loan Approval

When the borrower is ready to request consideration for an interim residential loan transaction or lot closing under the agreement, the borrower sends the request to the lender (via fax, email or otherwise) on the form agreed to on Exhibit A to the Master Construction Loan Agreement.

Lender Creates Loan Specific Data and Sends Short Package to Title Co.

If approved, the lender can go online and complete the screens necessary for the specific property and loan advance. From that information our automated system will produce the Closing Instructions (3 pages), Short Form Deed of Trust (3 pages), Attorney’s Notice and Document Correction Agreement (2 pages), and Attorney Invoice. Full service where we review Title and Survey is available upon request.

If the county the property is located in accepts paper real estate loan filings electronically (“e-recording”) the lender can instruct the title company to e-record or if the title company is not set up to e-record, return the original deed of trust to lender for the lender to scan to PPDocs for e-recording. No More “Early Starts”!!!

Builder Signs Short Package at Title Co.

The builder, or any other authorized party he/she designated in the Master Doc set, can sign on behalf of builder.

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