Bulletin: NY000464

Date:
November 12, 2010
To:
All New York State Office Counsel, Managers and Agents
RE:
Short Sale Certification

Regarding the above-referenced matter please be advised that Stewart Title Insurance Company will now be requiring the following certification on all short sale policy approvals:

I hereby certify to Stewart Title Insurance Company that I have read Bulletins NY000358, NY000359, NY000360 and NY000425; that I have reviewed the short payoff letter(s) and approved HUD(s), and state that, to the best of my knowledge, this transaction is in full compliance with said bulletins.

The form, which must be annexed to the standard Request for Policy Approval, is annexed hereto for your convenience.

Short Sale Certification Addendum to Policy Approval Form (click to view)

If you have any questions please contact Stewart Title Insurance Company Agency Legal Service at 212-922-0050.

For online viewing of this and other bulletins, log onto: www.stewartnewyork.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:
NY000358 Distressed/Short Sales
 
NY000359 Short Sales and Flips
 
NY000360 Short Sales and Flips
 
NY000425 Short Sales
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None