- September 19, 2008
- To All Issuing Offices
- Conservatorship of Fannie Mae and Freddie Mac
This bulletin is to advise you of Company policy regarding the regulatory conservatorship that Fannie Mae and Freddie Mac have been placed under by the Federal Housing Finance Agency (FHFA). At this time, Stewart has no additional requirements regarding Fannie Mae and Freddie Mac deals, and you may continue to close transactions involving them as before.
Below you will find two documents for your reference:
(1) FHFA Fact Sheet regarding conservatorships (click here to open);
(2) Statement by FHFA Director regarding Fannie Mae and Freddie Mac (click here to open).
FHFA Fact Sheet regarding conservatorships (Click to View)
Statement by FHFA Director regarding Fannie Mae and Freddie Mac (Click to View)
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.