Bulletin: NY000061

Date:
October 07, 1994
To:
New York State Counsel, Managers, Agents and All Holders of So Long and Thanks for All the Endorsements (Rev.1.1)
RE:
Residential Mortgage Endorsement-Revised Guidelines

Dear Associates:

Our requirements for issuance of the TIRSA Residential Mortgage Endorsement (1-4 Family) (8/15/94) have been modified, effective immediately.

Under our previous guideline, it was not possible to issue both a TIRSA Survey Endorsement (9/1/93) and the new TIRSA Residential Mortgage Endorsement (1-4 Family) (8/15/94) in connection with the same transaction.

The provision in the guideline requiring a survey be reviewed has been modified to state that a survey review is recommended, and that if the residential mortgage endorsement is issued in connection on with a survey endorsement, special care must be taken in considering the effect of covenants, restrictions and easements.

Please check the references below for the new guidelines for the TIRSA Residential Mortgage Endorsement.

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:
11.28 Loan Policies
Exceptions Manual:
NY Mortgages
Forms:
None