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Closing Lawyers On Hook For Lender's Bad Checks (access required)

Several closing attorneys who disbursed mortgage checks using provisional credit face about $1 million in losses after the lender's checks bounced. At least six attorneys were left holding the bag when Abbey Financial Corporation, a Massachusetts mortgage lender, went bankrupt on April 1. Abbey wrote checks for residential closings in and around Raleigh. Those checks were dishonored ...

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