Bulletin: LA2021002

Date:
September 08, 2021
To:
All Louisiana Issuing Offices
RE:
UNDERWRITING - Hurricane Ida - Clerk of Court Closures and Delays

Dear Associates:

Due to damage from Hurricane Ida in the State of Louisiana there may be several Parish Clerk of Court Conveyances and Mortgage Records offices subject to closures, delays, and/or backlogs.

To move forward with closing in the affected areas you must verify:

  • Whether there are courthouse closures, title searches are available, or documents recordable in the conveyance/mortgage records.
  • Whether payoffs for liens have changed or lender's instructions have changed.
  • Whether the lender will consent to a closing with any of these issues present.

Without the ability to properly search the courthouse records, conveyance/mortgage records, or the ability to record we can only issue policies with the last effective date prior to Hurricane Ida.

If the normal closing requirements can be met, but the property is located in a parish subject to closures, inability to record, and/or inability to do searches, you may do so with a Gap Affidavit and Indemnity executed by the seller and buyer, lender’s written consent, and 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.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
STG Gap Indemnity Agreement