Careful. Attorneys Are Liable For Their Bookkeepers’ Mistakes!

We have all heard the stories about attorneys who were subject to disciplinary action or disbarred for unintentional trust account management errors. Often attorneys have bookkeepers handle their escrow and trust accounts out of fear of making inadvertent errors. We even know another attorney who turned down the opportunity to take over a successful small firm because their escrow account ledger was written in pencil!

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New VA Loan Origination Charge Itemization – Whose Job is it?

According to the VA Circular, lenders issuing VA loans may disclose the fees. Lenders may itemize the charges in the empty 800 lines of the HUD-1 or lenders must provide a separate origination statement. The new origination statement must indicate the purpose of the charge and the amount.

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