Opinion ID: 1913349
Heading Depth: 3
Heading Rank: 3

Heading: Bazemore

Text: 33. Lubach referred Ms. Karlo Bazemore (Bazemore) to the Respondent for assistance in closing a loan from Lubach. 34. On or about June 13, 2006, Bazemore signed closing documents prepared by the Respondent for a loan from Lubach, in the principal amount of $16,500 (the Bazemore Loan). The note was secured by a mortgage on Bazemore's residential real property located in Newark, Delaware. The Respondent performed the closing for the Bazemore Loan. 35. The Respondent's file includes a document entitled Statement of Representation and Disclosure/Karlo Bazemore, dated June 5, 2006. The substance of this document is identical to the Statement of Representation and Disclosure included in the Respondent's file for the November 2 and 15, 2005, Cross Loans, except that (1) it includes the amount of the Respondent's fee, to be collected from the loan proceeds; (2) it states that [i]n this case, you were referred to me by a private lender, Robert Lubach; and (3) it is signed by the Respondent. 36. The Respondent did not provide the June 5, 2006, Statement of Representation and Disclosure to Bazemore in advance of the June 13, 2006, closing. By way of explanation, the Respondent states that because settlement occurred within days of the referral, the Statement of Representation and Disclosure was provided to Bazemore at settlement. 37. The Respondent charged attorney's fees to Bazemore for legal services relating to the Bazemore Loan, which he collected from the loan proceeds. 38. The Respondent prepared and/or finalized for closing a note for the Bazemore Loan which included payment provisions ( i.e., pre-payment penalty and balloon payment) prohibited by federal law. [7] The Respondent does not contest that note unintentionally violated federal law. 39. The lender failed to provide a right to rescind notice to Bazemore about her right to rescind the loan transaction within three days after the closing. [8] The Respondent failed to provide Bazemore with legal advice about her right to rescind.