Bulletin: SLS2023019

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Bulletin: SLS2023019

Bulletin Document
V 4
Date: November 30, 2023
To: All Issuing Offices
RE: UNDERWRITING - Security Event Affecting LoanCare, LLC

Dear Associates:

This Bulletin revises and replaces our Bulletin SLS2023018, dated November 21, 2023.

We previously advised that LoanCare, LLC (“LoanCare”) experienced a security event. As a precautionary measure, LoanCare restricted access to certain systems, including email.

It is our understanding that LoanCare has resumed some operations, and that consumer account and loan information may be available.

Effective immediately:

You may close transactions involving LoanCare, including transmitting funds to LoanCare, provided that you receive: (A) current, written instructions (including by email) from LoanCare dated on or after November 30, 2023, or (B) current, written confirmation (including by email) from LoanCare dated on or after November 30, 2023, of previously issued instructions.

As a reminder, if your transaction involves a payoff instruction issued by LoanCare, as with any payoff instruction, independent verification must be made prior to disbursement.

Additional information may be available at LoanCare, LLC’s website:

https://www.loancareservicing.com/

Or by calling LoanCare’s Customer Service line at:

800-274-6600

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

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.


References

Bulletins Replaced:
  • None
Related Bulletins:
  • None
Underwriting Manual:
  • None
Exceptions Manual:
  • None
Forms:
  • None