Attorney requesting permission to represent lender too

First-time homeowner question: we’re in-contract on a house and our attorney just requested permission to also represent our lender. Would love to learn if this is normal and okay? The lender is a big bank and the legal firm is a fairly large/respected outfit.

Here’s the copy of the letter they’d like my wife and I to sign:

“Please be advised that XXXXX (“XXXXXLawyer”) represents XXXXXBank (the “Lender”) and as such, at your closing XXXXXLawyer will provide the
appropriate banking documents from the Lender for your review and execution including,
but not limited to the mortgage and the note. Prior to the closing you will be advised by
the Lender of the amount approved for financing as well as the terms, such as the interest
rate and maturity date. XXXXXLawyer will answer all your questions regarding those documents.
Nevertheless, this letter informs you of the potential conflict and your right to retain other
bank counsel if you wish. If after reading this let ter you consent to XXXXXLawyer representing
you and the Lender, please indicate by signing below in the lower right-hand corner.”