Bulletin: NY000353

Date:
April 30, 2008
To:
All New York State Office Counsel, Managers and Agents
RE:
FDIC Special Alerts Distribution

This bulletin advises you of a change in our procedures.  Stewart Agency Legal Services will no longer distribute FDIC special alerts.  Additionally, the special alerts bulletins relating exclusively to FDIC alerts will no longer appear in the "Special Alerts" list on Virtual Underwriter. 

Stewart Agency Legal Services will continue to distribute closing alerts issued by the Company as well as bulletins relating to Company policy and broad underwriting practices and procedures.

As before, the pertinent FDIC information will continue to be available through our searchable special alerts database.  The names of all individuals, financial institutions, and other entities reflected in the Company closing alerts emails (along with the FDIC names) are included in a searchable database that can be directly accessed at http://specialalerts.stewart.com or is available as a link from Stewart.com and/or Virtual Underwriter.

Both the Closing/FDIC Alerts database and the Patriot Act/Specially Designated Nationals database can be searched automatically and simultaneously with no additional steps.  Before closing a transaction, all issuing offices must search the names of the parties to the transaction, including the seller, buyer, payoff lender and new lender, using our Special Alerts database.

Please continue to immediately report any fraudulent activity to Stewart Agency Legal Services.

If you have any questions or information concerning possible fraudulent activity, special alerts, and/or closing alerts, please contact: 

Stewart Agency Legal Services

(212) 922-0050

For on-line viewing of this and other bulletins, log onto: www.stewartnewyork.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:
SLS2007009 FDIC Special Alerts Distribution
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None