Score one for lawyers.
From the Globe: “The (state’s) top court ruled unanimously that some of the services provided by National Real Estate Information Services are lawful, including title examinations and the preparation of mortgage-related forms. But overall, justices found that real-estate closings require, ‘Not only the presence but the substantive participation of an attorney on behalf of the mortgage lender.'”
Needless to say, there are a lot of potential lawyer jokes stemming from this case. Lawyers are about to get a lot more legally required business — ultimately at the expense of consumers. But considering how messed up the housing-transaction business got last decade, it’s not easy to defend the current system.
