Bulletin: NY000498

Date:
February 13, 2012
To:
All New York State Agents, Office Counsel and Managers
RE:
Westchester County Recording PREP System Information

Stewart Title Insurance Company has recently been notified of the following Westchester County Recording Prep system change:

Notice:  Financial Rejection Email Alert Added

Beginning today, customers will receive an email notification when their package is rejected for a financial reason only.  In addition, the package will return to your PREP package grid where you can view and print the rejection letter if necessary. In an effort to save paper and postage, we will no longer be mailing out financial rejection letters when there is no need to mail back a rejected payment (such as an unsigned check). 

Eliminate Financial Rejections and Refund Applications by Authorizing ACH Debit

By simply filling out a form authorizing us to debit funds for land records from your bank account, you will never get a financial rejection letter or need to apply for a refund again.  Once your package has moved through our system and been approved, you will get an email with the list of packages and amounts we intend to debit.  You are given two business days to be sure these amounts are correct and you have the funds available.  In the meantime, your package is recorded.  In addition to the daily email, our ACH customers can login to PREP at any time and run Excel spreadsheets of financial activity.  For more information, visit WestchesterClerk.com and choose "Services" and then "ACH Debit Accounts" or call our Finance Unit at (914)995-2140.


Your Suggestions Are Welcome

Please remember that while using the PREP System, if you think of something that would improve the system, you can click the "Suggestions" link at the bottom of the page and share it with us. 

Sincerely,

The PREP Team
Office of Westchester County Clerk Timothy C. Idoni
110 Dr. Martin Luther King Jr. Blvd., White Plains, NY 10601
Prep.westchesterclerk.com
PREP Help Line: (914)995-3111

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:
NY000423 Westchester County PREP System -- New Recording Requirements Effective January 1, 2010
 
NY000438 Westchester PREP recording System
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None