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46. May the bank employee properly draft the mortgage documents?
A couple is in the process of purchasing a newly-built home. The couple has a real-estate agent and an attorney helping them through the process. The couple's agent recommended a particular bank for them to use in securing a mortgage for the home. Following the agent's advice, the couple went to the bank without their attorney. At the bank, a bank employee began preparing the documents for the couple's mortgage. The employee is also charging the couple a fee for preparing the documents.
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A is incorrect. An attorney does not need to be present for the preparation and signing of standard mortgage loan agreements.
B is incorrect. The lender is allowed to charge the borrower a reasonable fee for preparing such documents as long as it is in the regular course of business.
D is incorrect. There is no right to have an attorney present. The couple may have had their attorney present if they chose, but the attorney's presence or absence is not relevant if the bank employee is not engaging in the practice of law.