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: SA2008027
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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: SA2008027
Dear Associates:
Home builder Renaissance Homes filed for bankruptcy protection in the US Bankruptcy Court for the District of Oregon on Thursday September 25, 2008. The filing was for three of its companies including Renaissance Custom Homes LLC, Renaissance Development Corporation, and The Lakes at Fishers Landing LLC. Renaissance requested the court to administer the cases jointly.
The builder has development and construction projects in several areas throughout the Portland, Oregon metropolitan area, and southwest Washington.
The company has filed a Motion with the bankruptcy court for entry of a General Sales Order authorizing sales free and clear of liens. The company claimed that it has 37 pending home sales at the present time.
YOU ARE NOT TO CLOSE OR INSURE ANY TRANSACTIONS OF THE LISTED ENTITIES UNTIL FURTHER NOTICE. AS SOON AS THE COURT RULES ON THE PENDING MOTION, YOU WILL RECEIVE ADDITIONAL INSTRUCTIONS.
This bulletin applies to the following debtors:
Renaissance Custom Homes LLC
Renaissance Development Corporation
The Lakes at Fishers Landing LLC
If you have any pending transactions involving any of these individuals or entities or if you have recently closed any transactions involving these individuals or entities please contact the following Stewart representative IMMEDIATELY.
John Mitchell
Oregon Underwriting and Claims Counsel
Stewart Title Guaranty Company
2020 SW Fourth Avenue, Suite 190
Portland, Oregon 97201
503-290-5544 x1249
John.Mitchell@stewart.com
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None