Special Alert: SA2009036

Dear Associates:

We received information that on August 3, 2009, Agents of the Federal Bureau of Investigation, the Treasury Department's Office of the Special Inspector General for the Troubled Asset Relief Program, and the Department of Housing and Urban Development's Inspector General executed search warrants on the following entities:

Colonial BancGroup, Inc.
Colonial Bank

You may experience funding irregularities and/or delayed or canceled closings with respect to the above entities. Please advise your customers accordingly. Please exercise caution.

To the extent that any of the above entities continue to schedule closings, funding from the above entities must be accomplished only by federally wired funds to your escrow account. You must confirm with your bank 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, recording any documents, or issuing any title policies.

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