August 2009 | Volume 2 • Number 6
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Update from ATG Administration
What Were We Thinking?
All the big bankers were recently dragged before the Senate Banking Committee.
I was stunned when I heard a Senator make this statement: "I am no longer interested in how we got into this mess, I only care how we get out."
Spanish philosopher, George Santayana said: "Those who cannot remember history are condemned to repeat it."
The Senator's statement is an example of how political expediency often impedes common sense. Senator, I ask you: How can we fix the current housing crisis without learning what caused it to occur in the first place?
I submit that as we climb from the rubble left in the wake of the housing collapse, we need to take a step back and take a close look at the historical events leading up to this crisis... read more
Peter J. Birnbaum
President and CEO



ATTORNEYS | Practice Notes
Title Insurance
Stewart Title Guaranty Fund Company v Residential Title Services, Inc | Failure of a title agent to update a title search before closing is against industry practice and therefore negligent... read more
Glickman v Teglia | Board of managers of a condominium was liable for the developer's management decisions made before the board was installed... read more
Mechanic's Liens
Hayes v Chapman | A building supplier must commit either an uncured or incurable deceptive act to violate HICA... read more
Bank Mutual v S J Boyer Construction, Inc | Individuals who signed an unconditional guaranty of payment were personally liable for the debts secured by the mortgage, so lender was not entitled to a shortened redemption period... read more



ATG MEMBERS | Underwriters' Bulletin, Events
This section provides updated procedural and underwriting information. If you keep hard copies of our Member Handbooks in your office, print this information for insertion.
E-mail your questions to Christine Sparks.
Chain of Title: Administrative Cases in the Chain of Title | In general, title insurance does not provide coverage for violations of building and zoning regulations. However, the Owner's Policy of Title Insurance (Policy) provides coverage for such violations in certain instances... read more
Attention ATG Shareholders
November 10, 2009, ATG Champaign Office... read more



IN THE NEWS | Keep Your Home Workshop, Identity Theft
Free Counseling for Distressed Chicago-Area Homeowners
Keep Your Home logo/linkHomeowners: Are you underwater with your mortgage? Attorneys' Title Guaranty Fund, Inc. (ATG) and its co-sponsors have organized a free Keep Your Home workshop on August 29 in Cicero, Illinois, for troubled borrowers... read more
The Red Flags Rule - Professional Practices
The Federal Trade Commission (FTC) estimates that nine million Americans have their identities stolen each year. In response to this growing threat of identity theft, Congress passed The Fair and Accurate Credit Transactions Act of 2003 (FACTA). Contained within FACTA is the Red Flags Rule, originally intended to be applicable to the financial industry and businesses regularly extending credit. The FTC, however, is intent on extending the rule to small businesses, professional practices and even not-for- profit organizations... read more



WHAT'S NEW | Member Services, CLE, Trust Services
Re-Activate your ATG Membership - Has it been a while since you issued a policy? Are you ready to get started again? It's easy, and we can help. Make a small investment of time, start writing policies again, and add to your bottom line. Contact Member Services Representative Bob Dillow today!
Legal Ed Logo Sml
Live Connect Programs: SEPTEMBER
9/2: Nothing Easy about Easements
9/9: Claims Prevention
9/23: The ATG Trust Fiduciary Investment Process
See details of these and other programs. NOTE: You must be a registered user to buy seminars online... read more
ATG Trust Holding 618 Event in Southern Illinois - When your clients need a professional trustee, they don't have to go any farther than your own office. Learn how you can provide estate planning and trust services to your clients through ATG Trust. Join us for drinks and hors d&€™ouvres in Mt. Vernon on September 17... read more



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[Last update: 8-28-09]