Bulletin: TX2020003

Date:
March 18, 2020
To:
All Texas Issuing Offices
RE:
UNDERWRITING - County Clerk Offices Closed Because of Coronavirus Disease 2019 - COVID-19

Dear Associates:

If your county clerk’s office closes or is closed because of COVID-19, you may still have customers who wish to close their transaction. Stewart is committed to being as flexible as possible to continue to handle transactions while assuring the safety of the process and the health of our associates and agents.

The requirements that apply to issuing policies also apply to issuing date down endorsements.

If you are unable to secure searches of the title and if you do not have satisfactory title information, Stewart will not insure the title or a down date endorsement past the date of your last plant certification.

In addition to the requirements outlined in the National Bulletin, Stewart will insure the title if these conditions are met for Texas transactions:

  • In lieu of obtaining a gap indemnity, you must secure an affidavit that the owner(s) hasn’t filed or caused any document to be filed for record since your last title plant certification date and will not do so. The affidavit should be made as an inducement for Stewart Title Guaranty Company to issue its title insurance policies which it would not do except in reliance on the truthfulness of the information stated and that the affidavit is made under penalties of perjury.
  • The title examination does not show that the seller/borrower is subject to any outstanding involuntary or statutory liens (such as judgment liens, tax liens, or mechanic’s liens) or any lis pendens or pending lawsuits.

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:
SLS2020002 UNDERWRITING - Coronavirus Pandemic (COVID-19) Update
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
TX Affidavit Re Inability to Record