Bulletin: MU2008008

Dear Associates:

The 2006 ALTA Owner’s and Loan Policies are now generally available in the United States.  We encourage the use of these policies.

Like Short Form Policies, these policies may be produced promptly after closing and disbursement and can be issued instead of the Short Form to provide a more complete file that can be used as a starter file. 

Covered Risk 10 of the 2006 Owner's Policy and Covered Risk 14 of the 2006 Loan Policy provide Gap Coverage. You may show as your Date of Policy the date of disbursement and delivery of all documents. You do not need to await recording information unless the closing instructions require that information on the Policy or unless state regulation requires verification of recording.

You should continue to secure your customary and reasonable search and examination, as required by state regulation or law, custom, or our underwriting instructions.

You must still promptly file for record the mortgage, deed and other instruments.

You may also continue to adhere to local practice in jurisdictions where it is customary to date your policy the date of recording.

Please contact a Stewart underwriter if you have questions concerning this or any other topic for which you need assistance.

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