Bulletin: NL000052
Dear Associates:
RTC Termination
The Resolution Trust Corporation (RTC) was terminated on December 31, 1995.
If the RTC was acting as receiver or conservator for a financial institution, the Federal Deposit Insurance Corporation (FDIC) succeeds to that position without need of separate deed.
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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.
EXHIBIT 1
MANDATORY GRANTOR/ASSIGNOR LANGUAGE
TO BE USED IN DOCUMENTATION CONVEYING FORMER RTC
REAL ESTATE-RELATED (REO AND MORTGAGES) ASSETS
FROM FDIC TO THIRD PARTIES
|
Where FDIC has succeeded RTC as Receiver, identify the Grantor/Assigner as: 1. |
The Federal Deposit Insurance Corporation (FDIC)
acting in its capacity as Receiver for [Association], which pursuant to
12 U.S.C. Section 1441a(m)(1) succeeded the Resolution Trust Corporation
(RTC) in its capacity as Receiver for [Association]...
(if necessary, add recitals regarding title history of Association and appointment of RTC) FEDERAL DEPOSIT INSURANCE CORPORATION By__________________________________________ |
|
| Where FDIC has succeeded RTC
as Conservator, identify the Grantor/Assignor as:
2. |
The Federal Deposit Insurance
Corporation (FDIC) acting in its capacity as Conservator for [Association],
which pursuant to 12 U.S.C. Section 1441a(m)(1) succeeded the Resolution
Trust Corporation (RTC) in its capacity as Conservator for [Association]...
(if necessary, add recitals regarding title history of Association and appointment of RTC) FEDERAL DEPOSIT INSURANCE CORPORATION By__________________________________________ |
|
| Where FDIC has succeeded RTC
in its Corporate Capacity, identify the Grantor/Assignor as:
3. |
The Federal Deposit Insurance
Corporation (FDIC) acting in its capacity as Manager of the FSLIC Resolution
Fund, successor in interest to the Resolution Trust Corporation (RTC) pursuant
to 12 U.S.C. Section 1441a(m)(2)...
(if necessary, add recitals regarding title history of RTC as Receiver/Conservator, transfer to RTC Corporate, title history of Association, and appointment of RTC) FEDERAL DEPOSIT INSURANCE CORPORATION By__________________________________________ |