Need a quick answer - in Massachusetts, can a branch manager or lender close a home equity loan or home equity line of credit - or is there a state law that they are to be closed by an attorney, as the first mortgages are?

thanks.

Yes, our bank closes all home equity loans in house. I am not aware of any law to the contrary. As a matter of fact, I am not aware of any law which requires an attorney to close any loan ( including first mortgages).

Thanks for the info. I used to work in Mass and could have sworn there was a state law that required attorneys to close first mortgages (such as a real estate purchase). I thought they could not be closed by a title company or other party? I guess I must be remembering wrong.

There is common law to the effect that outside people, e.g. title companies cannot close purchase or loans as that is deemed to be the practice of law. However that does not mean it is wrong or illegal for a bank to have its own employees close loans.

thanks!