Bulletin: PA2019003

Date:
June 25, 2019
To:
All Pennsylvania Issuing Offices
RE:
UNDERWRITING - Philadelphia First Judicial District Update

Dear Associates:

This Bulletin supersedes and replaces the previous Bulletin we issued on this topic on May 30th. Certain websites and computer programs associated with Philadelphia’s First Judicial District continue to be shut down, making it impossible to search the civil docket records of the Philadelphia Courts. The City has provided computer terminals in the Widener Building and the Criminal Justice Center with limited access to relevant data.

Effective immediately, for all transactions under $3,000,000.000 for which closing will occur on or before July 1, 2019:

  • Closings may proceed provided: 1) a bringdown search has been ordered on or after June 13, 2019; 2) the usual municipal certifications from the City have been obtained; and 3) all other requirements of the title commitment have been met.
  • You must have a gap indemnity signed by the seller and/or borrower as well as standard title affidavits from sellers, buyers and borrowers, indicating that there are no mortgages, judgments, liens or pending court suits affecting the premises other than those shown on the title commitment. A sample form of gap indemnity is attached

Any transaction for which the amount of insurance equals, or exceeds, $3,000,000.00 must be reviewed and approved by the Company, prior to scheduling closing. 

Stewart Underwriting will continue to monitor the situation and keep you apprised of any developments. Should you have any questions do not hesitate to reach out to us.  

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:
PA2019001 UNDERWRITING - First Judicial District of Pennsylvania, Philadelphia, PA
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None