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Title Insurer Guidelines

Posted on Wednesday, October 27, 2010

To: All Florida Offices and Agents of:
Chicago Title Insurance Company
Commonwealth Land Title Insurance Company
Fidelity National Title Insurance Company
From: FNTG Florida Underwriting Department
Date: October 27, 2010
This Supplemental Bulletin is being issued to clarify the following matters:
1. The indented paragraph appearing at the bottom of Page 2 of Underwriting Bulletin 2010-23 entitled “Subsequent Resales or Mortgage Transactions” was intended to apply only to transactions involving re-sales out of the original REO purchaser as well as refinance transactions by the REO purchaser or its successors in title. If presented with an Owner’s Policy in such transactions, our offices and agents may rely on that Owner’s Policy as base title and the foreclosure proceeding does not have to be re-examined.
2. The Mortgage Foreclosure Review Checklist attached as Exhibit A to Bulletin 2010-23 was provided as a tool to assist the individual examining the foreclosure file. We encourage our agents to use the checklist in cases where the agent actually examines the title and reviews the foreclosure court file. However, if the Commitment or Title Report is prepared by an FNTG Office, the agent may assume that the guidelines for insuring title after a mortgage foreclosure, including the completion of the checklist, were followed by FNTG prior to the issuance of the Commitment or Title Report. In such cases, the agent does not have to examine the foreclosure file or complete the checklist. The only obligation of the agent with respect to the foreclosure file when an FNTG Office prepares the
FNTG Florida Underwriting
Underwriting Bulletin 2010-23 SUPPLEMENT
Page 2
commitment is to advise the Company in the event that the agent becomes aware of an actual or alleged defect or irregularity with the foreclosure proceeding. In such cases, the agent must contact a local underwriter to discuss the situation prior to closing.
Any questions concerning Bulletin 2010-23 as supplemented should be directed to your local underwriter.

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