Loan-Modification Work May Flout Ethics Rules, N.J. Panels Warn
Loan-Modification Work May Flout Ethics Rules, N.J. Panels Warn
New Jersey Law Journal
Attorneys who represent customers of mortgage-modification companies are at risk of losing their law licenses if they split fees with the financiers, two New Jersey Supreme Court committees say. In a joint opinion, the committees state that accepting legal fees from such a company, or dividing with the company a fee paid by a homeowner, constitutes impermissible fee-sharing, and an attorney who engages in such a practice "imperils his or her license to practice law."
New Jersey Law Journal
Attorneys who represent customers of mortgage-modification companies are at risk of losing their law licenses if they split fees with the financiers, two New Jersey Supreme Court committees say. In a joint opinion, the committees state that accepting legal fees from such a company, or dividing with the company a fee paid by a homeowner, constitutes impermissible fee-sharing, and an attorney who engages in such a practice "imperils his or her license to practice law."
