Bulletin: IL2013003

Date:
April 25, 2013
To:
All Illinois Issuing Offices
RE:
LEGISLATIVE UPDATE - IL Supreme Court Rule 113. Practice and Procedure in Mortgage Foreclosure Cases.

Dear Associates:

The Illinois Supreme Court recently issued Supreme Court Rule113 Practice and Procedure in Mortgage Foreclosure Cases which will become effective on May 1, 2013. The new rule requires that the note, as it currently exists and all indorsements and allonges be attached to the mortgage foreclosure complaint, as well as a Prove-up Affidavits (the Rule provides the detail for the affidavit and a sample form). If the borrower is defaulted by court order a notice of default and entry of judgment of foreclosure is to be prepared by the attorney for the plaintiff and sent to the Clerk of the Circuit Court (the Rule provides a sample form of the Notice and Entry of Judgment). As to judicial sales, the Rule requires notice be sent to all defendants not less than 10 days prior to the sale. If there are surplus funds a Special Notice as to Surplus Funds shall be sent to the mortgagors advising them of the surplus and enclosing a form for presentment of the motion to the court for the funds (the Rule provides sample of the notice). The Rule further provides for a Petition for Turnover of Surplus Funds and provides a sample for sample form. Finally the Rule requires that where a mortgagor is deceased and there is no probate opened the court shall, on motion of a party, appoint a special representative to stand in place of the deceased mortgagor who shall act in accordance with section 13-209 of the Illinois Code of Civil Procedure (735 ILCS 5/13-209).

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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:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None