Bulletin: SLS2017001
- Date:
- January 31, 2017
- To:
- All Issuing Offices
- RE:
- GENERAL - 2017 Reminder Bulletin
Dear Associates:
This Bulletin reminds you of your obligations as a policy-issuing representative of Stewart Title Guaranty Company ("Stewart"). In addition to possessing the customary knowledge associated with real estate closings in your jurisdiction, you are required to have specific knowledge of, and comply with, Stewart's underwriting practices, requirements, and guidelines. These include, but are not limited to, our Underwriting Manual, Bulletins, and Special Alerts. These resources, together with other important information, instructional materials, and commonly used forms are contained in Virtual Underwriter, available online at www.vuwriter.com.
Please note the following Bulletins relating to topics of current concern:
Underwriting |
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UNDERWRITING - Condominium/Homeowner Association Lien Foreclosures |
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UNDERWRITING - Foreclosures Extinguishing Subordinate Mortgages or Title Held By Fannie Mae, Freddie Mac, FDIC, or HUD |
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UNDERWRITING - Foreign Investment in Real Property Tax Act (FIRPTA) |
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UNDERWRITING - Updated Guidelines for ALTA Endorsement 4-06 and 4.1-06 (Condominium) and ALTA Endorsement 5-06 and 5.1-06 (Planned Unit Development) |
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UNDERWRITING - Insuring Title Based Upon a Judgment, Order, or Decree: Appeal Period and Proper Notice |
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UNDERWRITING - Extrahazardous Risks |
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UNDERWRITING - The Perishable Agricultural Commodities Act (PACA) and The Packers and Stockyards Act (PSA) |
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Mechanic’s Liens Recap |
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Use of Starters for Title Search [Revised 3-23-09] |
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Paying Off Line of Credit Mortgages |
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Insuring Around, Over, or Against Outstanding Enforceable Recorded Defects, Liens, and Encumbrances |
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Underwriting Bulletin Clarification |
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General |
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Search Services and Limitation of Title Insurance Underwriting Agreement |
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Privacy Policy Opt Out Option |
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Stewart Title’s Forgery Watch Award Program |
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Avoidance of Potential Conflicts of Interest |
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Disbursement Practices: Good Fund vs. Collected Funds [Revised 04-27-12] |
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Issuing Authority and Escrow Instructions |
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Patriot Act Requirements and the Special Alerts Database [Revised 01/18/12] |
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Importance of the Positive Pay System |
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Rates and/or Forms Update |
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RATES AND/OR FORMS UPDATE - ALTA Expanded Coverage Residential Loan Policies - Assessments Priority (04-02-15) or Current Assessments (04-02-15); and ALTA Short Form Expanded Coverage Residential Loan Policies - Assessments Priority (04-02-15) or Current Assessments (04-02-15) |
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Claims Avoidance |
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CLAIMS AVOIDANCE - Email Impersonation Wire Fraud Scheme Targeting Customers; FinCEN Advisory Email impersonation wire fraud scheme designed to cause the customer to wire funds to a bogus account. |
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Mechanic’s Liens During Construction A significant source of risk for the Company is the insurance of construction loans. Please note the following Bulletins which describe issues and requirements relating to mechanic’s liens during construction: |
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Mechanic's Liens Coverage During Construction - No Priority (2) |
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Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement (3) |
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Mechanic's Liens Coverage During Construction - Priority if No Lien or Suit Filed when Disbursing (1) |
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Mechanic's Liens Coverage During Construction |
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Mechanic's Liens Coverage on Lender's Policies During Construction |
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Mechanic's Liens Coverage During Construction - No Priority |
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Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement |
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Mechanic's Liens Coverage During Construction |
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Mechanic's Liens Coverage During Construction |
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Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement |
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Mechanic's Liens/Construction Liens Coverage During Construction - Priority if No Lien or Suit Filed when Disburse |
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Construction Lien Claims in New Jersey |
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UNDERWRITING - Insuring Construction Loans in New Mexico; New Rules Effective August 1 and August 15, 2014 |
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Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement |
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Mechanic's Liens Coverage During Construction |
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Mechanic's Liens Coverage During Construction |
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Mechanic's Liens Coverage During Construction |
As an accommodation, Stewart also distributes Bulletins and Special Alerts electronically. You are encouraged to sign up for electronic distribution of Bulletins and Special Alerts by contacting the Bulletin Coordinator at sylvia.lopez@stewart.com. Please also promptly forward any changes regarding your email address. Please ensure that emails from Stewart are not blocked or misdirected to your spam folder. Please add (sylvia.lopez@stewart.com) to your Address Book and Safe Senders List.
As a reminder, you are responsible for knowledge of and compliance with the information contained in all Bulletins and Special Alerts as posted on Virtual Underwriter (www.vuwriter.com), whether you receive them by electronic distribution or not.
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
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:
- CA2007001 Underwriting Bulletin Clarification
- DE2010002 Mechanic's Liens Coverage During Construction
- FL2010002 Mechanic's Liens Coverage on Lender's Policies During Construction
- IL2010005 Mechanic's Liens Coverage During Construction - No Priority
- LA2010010 Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement
- MA2010002 Mechanic's Liens Coverage During Construction
- MI2010007 Mechanic's Liens Coverage During Construction
- MU2010007 Mechanic's Liens Coverage During Construction - Priority if No Lien or Suit Filed when Disbursing (1)
- MU2010008 Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement (3)
- MU2010009 Mechanic's Liens Coverage During Construction - No Priority (2)
- MU2016001 UNDERWRITING - Updated Guidelines for ALTA Endorsement 4-06 and 4.1-06 (Condominium) and ALTA Endorsement 5-06 and 5.1-06 (Planned Unit Development)
- MU2016006 RATES AND/OR FORMS UPDATE - ALTA Expanded Coverage Residential Loan Policies - Assessments Priority (04-02-15) or Current Assessments (04-02-15); and ALTA Short Form Expanded Coverage Residential Loan Policies - Assessments Priority (04-02-15) or Current Assessments (04-02-15)
- NC2010003 Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement
- ND2010001 Mechanic's Liens/Construction Liens Coverage During Construction - Priority if No Lien or Suit Filed when Disburse
- NJ2010005 Construction Lien Claims in New Jersey
- NM2015002 UNDERWRITING - Insuring Construction Loans in New Mexico; New Rules Effective August 1 and August 15, 2014
- PA2010009 Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement
- SLS00171 Importance of the Positive Pay System
- SLS2007007 Insuring Around, Over, or Against Outstanding Enforceable Recorded Defects, Liens, and Encumbrances
- SLS2008001 Patriot Act Requirements and the Special Alerts Database [Revised 01/18/12]
- SLS2008015 Paying Off Line of Credit Mortgages
- SLS2009004 Use of Starters for Title Search [Revised 3-23-09]
- SLS2009007 Mechanic's Liens Recap
- SLS2010026 Issuing Authority and Escrow Instructions
- SLS2011005 Disbursement Practices: Good Funds vs. Collected Funds [Revised 04-27-12]
- SLS2011010 Avoidance of Potential Conflicts of Interest
- SLS2011017 Stewart Title's Forgery Watch Award Program [Revised 3-25-13, 2-12-14, 2-17-14 and 3-11-15; 3-30-16; 9-1-16; 3-21-17; 1-15-19; 12-21-20]
- SLS2012001 Privacy Policy Opt Out Option
- SLS2013003 Search Services and Limitation of Title Insurance Underwriting Agreement
- SLS2014001 UNDERWRITING - The Perishable Agricultural Commodities Act (PACA) and The Packers and Stockyards Act (PSA)
- SLS2014002 UNDERWRITING - Extrahazardous Risks [Revised 1-4-21]
- SLS2014006 UNDERWRITING - Insuring Title Based Upon a Judgment, Order or Decree: Appeal Period and Proper Notice
- SLS2016001 UNDERWRITING - Foreign Investment in Real Property Tax Act (FIRPTA)
- SLS2016002 UNDERWRITING - Foreclosures Extinguishing Subordinate Mortgages or Title Held By Fannie Mae, Freddie Mac, FDIC, or HUD
- SLS2016004 UNDERWRITING - Condominium/Homeowner Association Lien Foreclosures
- TX2010008 Mechanic's Liens Coverage During Construction
- VA2010001 Mechanic's Liens Coverage During Construction
- WI2010005 Mechanic's Liens Coverage During Construction
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None