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.
Special Alert: NL000099
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Before closing a transaction, all issuing offices must search the names of the parties to the transaction, including the seller, buyer/borrower, payoff lender and new lender, using the Special Alerts database. Go to the Special Alerts database to search for specific names, entities and properties.
Special Alert: NL000099
Dear Associates:
Effective immediately, all policy-issuing agents are instructed not to close any transactions involving the below listed entities and individuals unless approval has been received in writing from Stewart Title Guaranty Company's National Legal Department:
- PinnFund USA
- Peregrine Funding
- Allied Capital Partners
- Grafton Partners
- Six Sigma, LLC aka 6 Sigma LLC
- Reliance Holdings, LLC
- Michael J. Fanghella
- James L Hillman
The Securities and Exchange Commission filed a complaint, naming the above individuals and entities as defendants, in the U.S. District Court, Southern District of California, Docket Number 01-CV-496, captioned SEC v. Pinnfund USA, Inc., et al. Judge Marilyn L. Huff issued a Temporary Restraining Order and orders freezing assets, appointing a temporary receiver, for repatriation, prohibiting the destruction of documents, granting expedited discovery, for accountings and order to show cause regarding preliminary injunction and appointment of a permanent receiver.
Pinnfund indicates that it does not accept applications from Alabama, Massachusetts, Nebraska, New Hampshire, New York and Virginia.
Nationally, Pinnfund USA maintains the following office locations:
| Arkansas | Little Rock | 4 Shakelforth Plaza, #100 |
| California | Carlsbad Concord Diamond Bar Encino Irvine Long Beach Rancho Cucamonga | 2051 Palomar Airport Road, #100 1390 Willow Pass Road, Suite 380 21660 E. Copley Dr., #225 15760 Ventura Blvd., Suite #700 2601 Main St., Suite #570 301 E. Ocean Blvd., Suite #1200 7974 Haven Ave., Suite #225 |
| Colorado | Greenwood Village | 5690 Denver Tech Center #101W |
| Connecticut | Farmington | 40 Standford Drive |
| Florida | Jacksonville Miami | 4110 Southpoint Blvd., Suite #210 1001 Brickell Bay Drive #2212 |
| Hawaii | Honolulu | 900 Fort Street Mall, Suite #1410 |
| Illinois | Oakbrook Terrace | 17 W. 662 Butterfield Rd., #300 |
| Indiana | Evansville Indianapolis | 5401 Vogel Road, Suite #830 8395 Keystone Crossing, #201 |
| Kansas | Overland Park | 5750 W. 95th, Suite #315 |
| Louisiana | Metairie (New Orleans Branch) | 3341 Severn Ave., #103 |
| Michigan | Birmingham Greenville | 30300 Telegraph Road, Suite #123 109 East Washington |
| Minnesota | Edina | 4530 W. 77th St., Suite #223 |
| Nevada | Las Vegas | 6255 McLeod Dr., Suite #24 |
| New Jersey | Cherry Hill | 1930 East Marlton Pike, Suite R-12 |
| North Carolina | Charlotte Winston-Salem | 4455 Morris Park Dr., Suite G 1399 Ashleybrook Lane, Suite #120 |
| Ohio | Cincinnati Columbus Independence | 11440 Hamilton Ave., Suite #104 200 E. Campus View Blvd., Suite #200 6480 Rockside Woods Blvd., South, #250 |
| Oklahama | Oklahoma City | 1000 W. Wilshire, Suite #351 |
| Oregon | Tigard | 7360 SW Hunziker, Suite #205 |
| Pennsylvania | Carnegie Trevose | 600 N. Bell Ave., Bldg 2., #2710 Four Neshaminy Interplex, #205 |
| Tennessee | Memphis | 2650 Thousand Oaks Blvd., #2140 |
| Texas | Austin Dallas Houston San Antonio | 3429 Executive Center Dr., Suite #256 15150 Preston Road, #200 2200 Post Oak Blvd., Suite #500 9901 IH 10 West, #8027 |
| Utah | Midvale | 1225 E. Fort Union Blvd., Suite #140 |
| Washington | Tukwila | 14900 Interurban Ave. South, #105 |
| Wisconsin | Brookfield | 16800 West Greenfield Ave., #125 |
If you have any closings scheduled with these entities, do not close the transaction and immediately contact:
Patty Hoesl
Stewart Title Guaranty Company
1980 Post Oak Boulevard, Suite 710
Houston, Texas 77056
(800) 729-1902
(713) 625-8225
(713) 625-2248 (FAX)
Thank you for your anticipated cooperation.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None