Bulletin: MU2007003

Date:
June 07, 2007
To:
All Issuing Offices Except Delaware, Florida, Hawaii, Louisiana, New Mexico, and Texas
RE:
2006 ALTA Title Insurance Policies

Dear Associates:

Freddie Mac will require the ALTA 2006 Loan Policy or ALTA 2006 Short Form Residential Loan Policy for all mortgages originated on or after January 1, 2008, except in those states where State approval of the 2006 Loan Policy is required but is not granted.  Freddie Mac also "strongly" encourages use of the 2006 Policies now to take advantage of the expanded coverage in those ALTA Policies. We also expect that Fannie Mae and many lenders will soon require the 2006 ALTA Policies, where they are not doing so now.

The 2006 ALTA Loan, Short Form Residential Loan, and Owner's Policies may be issued in all states at this time except in Louisiana, Hawaii, Delaware, New Mexico, Florida, and Texas.  Filings are pending in some of these remaining states.  In some of the states where the 2006 ALTA Policies are available, modifications are made in the Policies or by endorsements to the Policies.

The 2006 ALTA Policies, applicable Commitment, and applicable Endorsement forms (as they vary in different states) are available on the Stewart National Forms Library in all states in which the forms may be issued.  These forms are accessible as follows:

(1) at  http://stats.stewartpoint.com/Forms%20and%20Templates/Forms/By%20State.aspx in both AIM and MSWord formats; and

(2) by requests from SNFL@stewart.com

All Regional Chief Technology Officers are responsible for ensuring that each of their offices and agents have an electronic version of these forms loaded on their system.

Hard copies of the forms also may be ordered from Stewart Forms and Information at (800) 729-1901 or by e-mail at stgforms@stewart.com.

Please contact a Stewart underwriter if you have any questions concerning this or any other topic for which you need assistance. For on-line viewing of this and other bulletins, log onto http://vuwriter.com.

Please see the state forms section of Virtual Underwriter for all states, except Delaware, Florida, Hawaii, Louisiana, New Mexico, and Texas.

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:
SLS00307 2006 ALTA Forms
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None