Bulletin: MU000037

Dear Associates:

Stewart Title Guaranty Company ("STG") does not require a survey in order to give extended coverage as to survey matters in Loan Policies issued on 1-4 family residential properties. You may delete the survey exception without any inspection or additional requirements.

You should continue to except to easements of record and any significant encroachments or unrecorded easements of which you have actual knowledge, either by a prior survey in your possession, your search, or information obtained from a starter policy which conforms to STG requirements.

These 1-4 family residential policies can be either subdivision lots or acreage tracts under 25 acres.

In addition, STG will no longer require a survey in order to give extended coverage as to survey matters in Loan Policies issued on commercial transaction with liabilities of up to $5,000,000.00. Exceptions are to be shown as outlined above.

You may issue the ALTA Form 9 Endorsement or CLTA Form 100 Endorsement (or similar Endorsement available in your jurisdiction) on Loan Policies covering 1-4 family residential properties or on Loan Policies relating to commercial transactions of up to $5,000,000 without a survey, if you comply with the above requirements and if you comply with our other requirements for issuance of these endorsements.

Owner's Policies and Construction Loan Policies are not covered by this bulletin.

If you have any questions, please call your STG Underwriting Representative or the National Legal Department.