Virtual Underwriter

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Bulletin: NY000202

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Bulletin: NY000202

Bulletin Document
V 1
Date: February 28, 2003
To: All New York State Office Counsel, Managers and Agents
RE: 1) ACRIS; 2) Emergency Repair Searches

Dear Associates:

We have been advised of additional ACRIS training being provided for those who may desire. Please see the attached schedule for particulars.

Further, it has been reported that additional information is now being made available through the Department of Housing Preservation and Development (HPD) for inclusion with the Emergency Repair search. In addition to the Work in Progress and Recoupment components of the search, the potential for charges incurred resulting from Demolition/Seal Up and Relocation activities of HPD are now being reported. While it does not appear that the search will show the amount of any pending charge, proper indexing/filing of these charges by HPD should result in the possibility of pending charges being included in the Emergency Repair search. Direct contact with HPD will be necessary to determine the amounts due, if any.

Therefore, a complete Emergency Repair search should now consist of reported information in four categories, ie. Work in Progress, Recoupment, Demolition/Seal Up and Relocation.

For further information, please contact Company Counsel.
Note: Attachment on training schedule accompanied hard copy distribution of this bulletin.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References