Bulletin: SLS00314

Date:
December 18, 2006
To:
All Issuing Offices
RE:
Closing Alert -- Ownit Mortgage Solutions

Dear Associates:

As of December 5, 2006, Ownit Mortgage Solutions has ceased operations.  They are no longer able to fund or process any loans.  Ownit has provided the following regional contacts for loan status:

Atlanta, Georgia Region for Ownit Mortgage Solutions
Lee Johnson
910-367-1552

Mindy Rothenberger
404-423-2594

Effective immediately, all policy issuing agents are instructed not to accept any orders or close any pending transactions involving Ownit Mortgage Solutions without obtaining express written approval from the listed Stewart Legal Services representative.  If your office has recently closed or has pending transactions with the named companies, please contact the following Stewart Legal Services representative IMMEDIATELY:

Susanne Hawkins, Esq.
Regional Claims Counsel
803-748-9695 (office)
803-444-9695 (watts)
803-748-9739 (fax)

For on-line viewing of this bulletin, log onto http://specialalerts.stewart.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