Opinion ID: 1913349
Heading Depth: 3
Heading Rank: 1

Heading: Brewer

Text: 19. On or about March 13, 2006, Lubach referred Mr. Timothy S. Brewer and Mrs. Michele A. Brewer (the Brewers) to the Respondent for assistance in closing a loan from Lubach. 20. On or about March 18, 2006, the Brewers signed closing documents prepared and/or finalized for closing by the Respondent for a loan from Lubach, in the principal amount of $20,922 (the Brewer Loan). The note was secured by a mortgage on the Brewers' residential real property located in Clayton, Delaware. The Respondent performed the closing for the Brewer Loan. 21. The Respondent's file includes a document entitled Statement of Representation and Disclosure/Timothy S. Brewer and Michele S. Brewer, dated March 13, 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. 22. The Respondent did not provide the March 13, 2006, Statement of Representation and Disclosure to the Brewers in advance of the March 18, 2006, closing. By way of explanation, the Respondent states that because settlement occurred within days of the referral and took place on a Saturday, the Statement of Representation and Disclosure was provided to the Brewers at settlement. 23. The Respondent charged attorney's fees to the Brewers for legal services relating to the Brewer Loan, which he collected from the loan proceeds. 24. The Respondent prepared and/or finalized for closing a note for the Brewer Loan which included payment provisions ( i.e., pre-payment penalty and balloon payment) prohibited by federal law. [3] The Respondent does not contest that this note unintentionally violated federal law. 25. The lender failed to provide a right to rescind notice to the Brewers about their right to rescind the loan transaction within three days after the closing. [4] The Respondent failed to provide the Brewers with legal advice about their right to rescind.