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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I need a Represenation Letter between a lawyer and a mortgage

Customer Question

I need a Represenation Letter between a lawyer and a mortgage lender
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Ely replied 2 years ago.
Hello and welcome to JustAnswer. Please note: (A) This is general information and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms; and (B) the site allows experts not to participate in phone calls and I may or may not be able to participate in this feature.1) What do you mean a "representation letter," exactly? 2) Why is the attorney themselves not able to provide it? Most attorneys provide such a letter without issue for a client.This is not an answer, but an information request. I need this information to answer your question. Please reply, so I can answer your question. Thank you in advance.
Customer: replied 2 years ago.
I need a letter between an attorney representing the bank in a mortgage closing that spells out the work that will be covered by the attorney in the closing and the fee that will be charged. This is because of the new Integrateged Disclosure rules imposed by Dodd-Frank and the CFPB. Do you have a sample letter that can be shared?
Expert:  Ely replied 2 years ago.
Thank you. I am going to opt out and open this up for other experts. My apologies.
Customer: replied 2 years ago.
Let me know who opts in?
Expert:  Attyadvisor replied 2 years ago.
Welcome and thank you for your question. I will be the professional that will be assisting you.
Are you looking for a sample of a retainer agreement for the attorney to present to the lender? Or are you looking for the required disclosures?
Customer: replied 2 years ago.
The bank needs a letter between the closing attorneys representing the banks at closing for mortgage closings. The engagement letter needs to account for their fees as required by Dodd Frank and the new Truth in Lending and Disclosure rules implemented by the CFPB. There has to be new appropriate reps and warranties by the lawyers and a fixed closing cost fee for the attorneys. Do you have a representative letter I can start with and modify as needed? Gary Roman
Expert:  Attyadvisor replied 2 years ago.
You are an attorney looking for a sample letter?
Customer: replied 2 years ago.
I am a president of a bank, requesting a letter we can have the attorneys sign.
Expert:  Attyadvisor replied 2 years ago.
Got it. Thank you for the clarification. I am going to ask the moderator to have a licensed Connecticut attorney draft the letter for you. I am opting out. No need to respond. Another attorney will be with you shortly.
Expert:  Law Educator, Esq. replied 2 years ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
I have a standard sample letter used in all real estate transactions with attorneys that is approved by the CT Bar, is that what you are looking for?