1.20 Lenders

• Library: Real Estate Transactions in Virginia (Virginia CLE) (2019 Ed.)

1.20 LENDERS

1.2001 Referrals from Lenders. Accepting a referral from a lender may justify disciplinary sanctions unless (i) the lender first afforded the referred party an opportunity to "select a lawyer of his [or her] own choosing"; (ii) the referred party failed or refused to do so; (iii) the lender then submitted to the referred party a "list of lawyers"; and (iv) the referred party selected the lawyer and authorized the lender "to refer such representation" to the "lawyer so selected." ²⁴⁸

1.2002 Counsel for Lender or Loan Officer as Trustee on Deed of Trust. Subject to certain requirements, counsel for the lender or lender's loan officer may serve as trustee on the lender's deed of trust. ²⁴⁹

1.2003 Preparing Deeds and Deeds of Trust. A non-lawyer employee of a lender may lawfully prepare a deed of trust securing indebtedness to the lender as long as the lender does not charge the borrower for preparing...