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: SA2009039
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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: SA2009039
Dear Associates:
On August 13, 2009, the United States District Court for the Southern District of Florida enjoined Colonial Bank from selling, assigning, liquidating, transferring or disposing of approximately 6,000 mortgages that are the subject of a lawsuit between Bank of America, N. A. and Colonial Bank, Case No. 09-22384.
Attached is a copy of the Complaint. Attached to the Complaint is a Schedule of the subject mortgages, referenced by loan number. Effective immediately, you may not close any transaction involving any of these mortgages without underwriter approval.
Complaint, Case No. 09-22384 [Part 1 of 6] (Click to View)
Complaint, Case No. 09-22384 [Part 2 of 6] (Click to View)
Complaint, Case No. 09-22384 [Part 3 of 6] (Click to View)
Complaint, Case No. 09-22384 [Part 4 of 6] (Click to View)
Complaint, Case No. 09-22384 [Part 5 of 6] (Click to View)
Complaint, Case No. 09-22384 [Part 6 of 6] (Click to View)
If you have questions relating to this bulletin, please contact Stewart Legal Services or your local underwriting personnel.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None