Bulletin: SA2007008

Date:
August 06, 2007
To:
All Issuing Offices
RE:
Chapter 11 -- American Brokers Conduit; American Home Mortgage Corp.
 Dear Associates:

On August 1, 2007, you received a bulletin from Stewart Legal Services (SA2007007) stating that you may experience a problem in receiving funds from the following lenders/brokers:

American Brokers Conduit
American Home Mortgage Investment Corp.

American Brokers Conduit/American Home Mortgage Investment Corp. has the below listed corporate office address as well as other branch offices throughout theUnited States:

538 BroadHollow Road 
Melville, NY   11747

On August 6, 2007, American Home Mortgage announced that it had filed Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.  A complete copy of the press release from American Home Mortgage may be viewed at:

http://phx.corporate-ir.net/phoenix.zhtml?c=68091&p=irol-newsArticle&ID=1036891&highlight

Effective immediately, all policy issuing agents are instructed not to accept any orders or close any transactions (including payoffs) involving American Home Mortgage, American Brokers Conduit, or any other American Home Mortgage Investment Corporation entity without the written approval of the Stewart Legal Services representative listed below:

Mary Payne Thomas
Stewart Title Guaranty Company
1980 Post Oak Blvd.
Suite 710
Houston, Texas  77056
(800) 729-1902
Email: mthomas@stewart.com

For additional guidelines regarding lenders/brokers in bankruptcy, please continue to refer to Stewart Legal Services bulletin SLS00368 which was released on May 8, 2007.

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:
SLS00368 Mortgage Lenders That Are The Subject Of Closing Alerts Or That May Be Troubled
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None