Bulletin: OR2021001

Date:
January 13, 2021
To:
All Oregon Issuing Offices
RE:
LEGISLATIVE UPDATE - HB4204 and the Oregon Foreclosure Moratorium

Dear Associates:

When the third special session of the Oregon legislature did not pass an extension of the foreclosure moratorium created by HB4204 it expired as scheduled on Dec. 31, 2020. Additionally, Executive Order 20-67, which extended the underlying COVID-19 state of emergency, did not modify the Dec. 31, 2020 end date.

What does this mean? 

  • The Federal foreclosure moratorium contained in the CARES Act is still in effect. See Bulletin SLS2020008.
  • For all other types of mortgages, lenders may begin foreclosure processes under Oregon law.
  • If an in-process foreclosure was put on hold because of the moratorium, it can proceed from that point. Lenders are required to send an amended notice of default to the homeowner that provides updated foreclosure dates.

Company policy: Do not insure based on foreclosures begun or completed on or after March 1, 2020, unless you secure Stewart Title Guaranty Company underwriter approval.

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.