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Special Alert: SA2009005

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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.

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Special Alert: SA2009005

Bulletin Document
V 1
Date: February 05, 2009
To: All Issuing Offices
RE: Closing Alert - Updated - Transactions regarding Taylor, Bean & Whitaker

Dear Associates:

Stewart was alerted that you may experience a delay in receiving funds from the following lender/broker:

Taylor, Bean & Whitaker Mortgage Corp.

Effective immediately, Stewart requires funding by the above entity to be accomplished only by federally wired funds to your escrow account. You must confirm that the funds have been received (not just that the wire has been initiated) and unconditionally credited to your account prior to making any disbursements or releasing any documents. Please contact Stewart Legal Services with any questions.

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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.

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