Opinion 1295

The Committee reviewed your inquiry regarding employment of you by a mortgage company in which you would obtain potential mortgage sellers, gather data about the mortgage, and present the information to the company. The company would then authorize you to make an offer to the mortgage holder, discounting a broker's fee for yourself. The Committee is of the opinion that first, you would need to disclose to the parties involved that you are not acting as an attorney for the parties. Further, the Committee was of the opinion that you could engage both in the practice of law and the brokerage business from the same office, but if you were doing business with a current client, you must comply with the requirements of RPC 1.7, and if with a former client, with RPC 1.9(d). The Committee is further of the opinion that you would need separate letterhead for each business, and that you could solicit business from present or former clients so long as you comply with RPC 1.8 and 1.9, and in particular noting that you would not be able to use client secrets, such as, for example, that a client was in financial straits which might permit you to take advantage of that client or former client.

Advisory Opinions are provided for the education of the Bar and reflect the opinion of the Committee on Professional Ethics (CPE) or its predecessors. Advisory Opinions are provided pursuant to the authorization granted by the Board of Governors, but are not individually approved by the Board and do not reflect the official position of the Bar association. Laws other than the Washington State Rules of Professional Conduct may apply to the inquiry. The Committee's answer does not include or opine about any other applicable law other than the meaning of the Rules of Professional Conduct.