Bulletin: SLS2023021

Dear Associates:

We have been made aware of a cyber security incident involving data provider DataTrace.

Because data from DataTrace may be unavailable, the ability to issue commitments, and date down commitments for closings may be impacted.

Effective immediately:

A. If you used data from DataTrace for your original search, and if you are able to do customary searches of the title (including real estate taxes), you may update commitments and issue policies. Please obtain a Gap Indemnity from the seller in a sale transaction and the borrower in a refinance transaction, either included in your closing affidavit or as a separate document. If you are unable to secure current searches of the title and taxes, and if you do not have satisfactory title and tax information, do not update the commitment or issue a policy without approval of a Stewart Title Guaranty Company underwriter.

B. If you are unable to secure a current title search, Stewart will consider situations on a case-by-case basis, where:

(i) The commitment or most recent update of the commitment was dated not more than thirty (30) days prior;
(ii) The property does not involve contemplated, ongoing, or recently-completed construction;
(iii) The transaction does not include an insured construction mortgage;
(iv) Current tax information is available;
(v) The title examination does not show that the seller, purchaser or borrower is subject to any outstanding involuntary or statutory liens (such as judgment liens, tax liens, or mechanic's liens) or lawsuits;
(vi) The policy will not exceed $10 million;
(vii) You obtain Stewart’s customary title affidavit or similar affidavit from the current owner; 
(viii) You obtain a Gap Indemnity from the seller in a sale transaction and the borrower in a refinance transaction, either included in your closing affidavit or as a separate document; and
(ix) The transaction is approved by a Stewart Title Guaranty Company underwriter.

Transactions not conforming to the above may be approved by a Stewart Title Guaranty Company Senior underwriter.

We will update this bulletin as additional information becomes available.

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

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