Legal Question in Real Estate Law in Illinois

You should not be calculating mortgage payoffs. That is the responsibility of the lender. As to your post script, I have no idea why you would be responsible for an attorney's error.

I agree w/ Mr. Moens. Then again, if this is a NON-institutional loan and there is some custom for brokers in your zip to handle payoffs and amounts, or you personally undertook the lender's job of providing an appropriate pay-off letter, this is not a broker responsibility by law, and certainly not a custom in our zip. I know some brokers who might help in a non-institutional situation, but always get an attorney involved to provide for back-up malpractice insurance (assuming the loan information that is provided to the attorney to review are accurate). If you undertook it voluntarily, however, and misled anyone, that could be an issue. And if you did attempt to help but did not get the lender's confirmation that your calculations are correct directly or from the lender's own counsel, that too would be an issue. Based on your "PS" however, if it is a custom I would say it should stop or get it changed, but if it is not a custom (at least for non-institutional lenders in your zip - like seller financing....), fool me once, shame on them, fool me twice......But you need a lawyer in your zip code.