- May 11, 1999
- All Issuing Offices
- Funding Alert - National Mortgage Corporation
Effective immediately, all policy issuing agents are instructed not to close on any transactions involving National Mortgage Corporation unless you are in receipt of collected and available funds or confirmed wire transfers into your account.
Stewart attempted to contact National Mortgage Company (303) 721-7211 and received the following recorded message:
"You have reached National Mortgage Company. Due to an unexpected loss of our warehouse funding sources, National Mortgage Corporation is presently unable to complete all loan fundings at this time. We are making every effort possible to assist you in funding your loans through alternative sources?."
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.