Bulletin: MU2008008

Date:
May 08, 2008
To:
All issuing offices except Florida, New Mexico, New York, Oklahoma and Texas
RE:
2006 Policies

Dear Associates:

The 2006 ALTA Owner’s and Loan Policies are now generally available in the United States.  We encourage the use of these policies.

Like Short Form Policies, these policies may be produced promptly after closing and disbursement and can be issued instead of the Short Form to provide a more complete file that can be used as a starter file. 

Covered Risk 10 of the 2006 Owner's Policy and Covered Risk 14 of the 2006 Loan Policy provide Gap Coverage. You may show as your Date of Policy the date of disbursement and delivery of all documents. You do not need to await recording information unless the closing instructions require that information on the Policy or unless state regulation requires verification of recording.

You should continue to secure your customary and reasonable search and examination, as required by state regulation or law, custom, or our underwriting instructions.

You must still promptly file for record the mortgage, deed and other instruments.

You may also continue to adhere to local practice in jurisdictions where it is customary to date your policy the date of recording.

Please contact a Stewart underwriter if you have questions concerning this or any other topic for which you need assistance.

For on-line viewing of this and other bulletins, log onto http://www.vuwriter.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:
SLS00307 2006 ALTA Forms
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
ALTA Loan Policy 2006
 
ALTA Owner's Policy 2006