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Bulletin: CA2022002

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Bulletin: CA2022002

Note: This Bulletin has been replaced by CA2024005 - UNDERWRITING - Non-Institutional/ Hard Money/ Private Lender. Use it for reference only.
v 2
Date: May 12, 2022
To: All California Issuing Offices
RE: UNDERWRITING - Non-Institutional/ Hard Money/ Private Lender Transactions

This bulletin has been replaced by CA2024005.

 

 

Dear Associates:

This Bulletin replaces CA2021003 and SLS2018002 and SLS2020009 for California only.

Transactions Involving Non-Institutional Lenders - Fraud, Due Diligence, and General Requirements

Stewart Title Guaranty Company (Company or STG) con...

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:
CA2021003 - UNDERWRITING - Non-Institutional/ Hard Money/ Private Lender Transactions [Revised 7-16-21] SLS2018002 - UNDERWRITING - Non-Institutional / Hard Money / Private Lenders Transactions [Revised 7-11-19] SLS2020009 - UNDERWRITING - COVID19 and Non-Institutional/ Hard Money/ Private Lender Transactions [Revised 7-27-20]
Related Bulletins:
CA2024005 - UNDERWRITING - Non-Institutional/ Hard Money/ Private Lender CA2024006 - UNDERWRITING - Fractional Beneficial Interests Under Trust Deeds and Mortgages, and Assignments Thereof MU2010008 - Mechanic's Liens Coverage During Construction - Initial Priority if No Commencement (3) SLS2009014 - Mortgages/Deed of Trusts to Multiple Individual Mortgagees SLS2014002 - UNDERWRITING - Extrahazardous Risks [Revised 1-4-21] SLS2015011 - UNDERWRITING - Overlimits Request Form and Related Documentation [Revised 1-20-21]
Underwriting Manual:
5.36.1 In General 12.12.1 In General
Exceptions Manual:
None
Forms:
None