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.
Bulletin: MU2010004
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Bulletin: MU2010004
Dear Associates:
If you are an agent, when you receive letters of instruction pertaining to closings, you may only execute the letter in the name of your title agency or in your name as title agent. You may not execute the letter on behalf of Stewart Title Guaranty Company. For example, the following acknowledgments of instructions are not acceptable:
We acknowledge receipt of this letter of instructions and the Escrowed Documents and advise you that all the Closing Conditions, other than the receipt of telephone or email authorization from _________ to proceed, have been satisfied, and we agree to comply with all the terms of the letter.
Dated: April ___, 2010.
NOT ACCEPTABLE:
STEWART TITLE GUARANTY COMPANY
By
Name:
Title:
Authorized Signatory
NOT ACCEPTABLE:
STEWART TITLE GUARANTY COMPANY
By ABC Title Agency
Name:
Title:
Authorized Signatory
Instead, the name of your title agency or your name as title agent should be shown in the acceptance and acknowledgment:
ABC Title Agency
By
If you have questions related to this bulletin, please contact your local underwriting personnel or Stewart Legal Services.
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References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None