08.26.2014 Consent Order of Discipline [Wake County]

Photo Courtesy of the North Carolina State Bar

Entered on August 26, 2014, Lori Glenn was suspended for three years with possible stay. From 2009-2012, for residential real estate clients, Glenn failed to timely disburse the title insurance premium shown on the HUD-1 Settlement Statement and failed to submit the final title opinion to obtain the title insurance policy, failed to respond to inquiries from at least one lender concerning an outstanding policy, failed to make various disbursements shown on the applicable HUD-1 Settlement Statements, had discrepancies in receipt of funds and disbursements for HUD-1 Settlement Statements,  failed to collect sufficient funds at closing to make all of the disbursements shown on the HUD-1 Settlement Statement for the closings, failed to conduct quarterly reconciliations of her trust account, and failed to timely address the issues in title that arose in 2013. Glenn consented to an injunction in 2012 prohibiting her from handling entrusted funds.

The Hearing Panel found that Glenn violated numerous Rules of Professional Conduct including: failing to act with reasonable diligence and promptness in representing a client, failing to promptly disburse client funds, failing to promptly comply with reasonable requests for information, failing to keep a client reasonably informed about the status of the matter, failing to conduct requisite reconciliations, and failing to properly maintain and disburse entrusted funds.

The Hearing Panel concluded that Glenn’s conduct caused significant harm to her buyer and lender clients, to her clients and the title insurance companies, and that she was unavailable to identify all client funds in her account and determine/make appropriate disbursement of those funds. The Panel suspended Glenn form the practice of law for three years, with the opportunity to file a petition for a stay for the remaining period of suspension after at least one year.

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