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: NL000134
Search the Database
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: NL000134
Effective immediately, for all transactions funded by Community Home Mortgage Corporation ("Community") wherein an issuing office intends to issue a title insurance policy, on behalf of a Stewart Family Underwriter ("Stewart"), the following conditions must be satisfied:
For Agents Who Conduct The Closings And Disburse Escrow Funds
Funding by Community must be accomplished by wire transfer of funds to your escrow account the day before closing, and you must verify receipt of the wire transfer prior to conducting the closing.
For Agents Who Issue Policies On Transactions Wherein The Escrow Funds Are Disbursed By A Third Party, i.e. Closing Attorney
Immediately notify all your closing attorneys, concerning all transactions funded by Community, that Stewart requires: 1) funding be accomplished by wire transfer to the closing attorney's escrow account the day before closing; and, 2) closing attorney must certify, to you, receipt of Community's wire transfer.
Community Home Mortgage Corporation's main office is located in Melville, New York and is licensed in the following states:
Arizona; California; Colorado, Connecticut; Delaware; Florida; Georgia; Illinois; Indiana; Iowa; Kansas; Kentucky; Louisiana; Maine; Maryland; Massachusetts; Michigan; Minnesota; Mississippi; Missouri; Nebraska; Nevada; New Jersey; New Mexico; New York; North Carolina; Ohio; Oklahoma; Oregon; Pennsylvania; South Carolina; South Dakota; Tennessee; Texas; Utah; Vermont; Virginia; Washington; West Virginia; Wisconsin; and Wyoming.
If your office has closed any transactions wherein funding has not yet been received, please contact Stewart Title Guaranty Company's National Legal Department IMMEDIATELY. Please contact:
Patty Hoesl
Claims & Litigation Paralegal
National Legal Department
Stewart Title Guaranty Company
1980 Post Oak Boulevard, Suite 710
Houston, Texas 77056
(800) 729-1902
(713) 629-2248 FAX
EMAIL: phoesl@stewart.com
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None