Michigan Lenders Anxiously Await Current Clients’ Next Move After Court Declares Lender Document Preparation Fees
September 10, 2001
Illegal Concern is growing among mortgage lenders in Michigan about whether current customers would sue to recoup millions of dollars in document preparation fees in the wake of a state appeals court ruling. In an Aug. 3 decision in Dressel v. Ameribank, the Court of Appeals of Michigan agreed with plaintiffs that charging fees for completing mortgage documents constituted an illegal practice of law.