The Trusted Adviser

February-March 2013 | Volume 6 - Number 2

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Update from ATG Administration

ALTA Best Practices: A Seven-Point Program to Improve the Industry

How Will it Impact ATG Agents?

Jerry T. Gorman photoAs the economy recovers from the disastrous mortgage meltdown, the federal government along with the lending and title industries have explored ways to make the mortgage lending and closing processes more secure. Initiatives from the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) specifically make lenders financially responsible for the activities of many third-party vendors providing services in connection with consumer credit transactions.

In an effort to assist the lending community in its efforts to reduce its liability, the title insurance industry has implemented new quality control standards designed to improve service, reduce risk, and ensure the highest level of regulatory compliance.

A top priority is to ensure the safety of closing funds. Early in this process, many settlement service providers were told by lenders that they and their employees would need to be subjected to a variety of stringent vetting processes, audited by third-party companies. The American Land Title Association (ALTA) quickly realized that such a process, while not only impractical to implement and very expensive for title agents, also provided little actual protection of escrow funds. Read more...

Jerry T. Gorman
ATG Senior Vice President - Downstate Operations

IN THE NEWS | New ATG Location in Northern Illinois

Gurnee Office Opens April 1, 2013 — To better server our northern Illinois agents and clients, ATG's newest office opens for business in April. Read more...

ATTORNEYS | Practice Notes

Legislative Updates


Service Member Civil Relief Act: PA 97-0913 — Also known as the Service Member Civil Relief Act, it provides legal protections to "service members" in "military service" and their families.


Mortgage Foreclosure: US Bank Nat Ass'n v Villasenor — Lender was not a bona fide mortgagee without notice of another's adverse interest in the property because it had inquiry notice.

Judgments; Mortgages: CitiMortgage, Inc v Barabas — Mortgage priority cannot be adjudicated unless the court acquired personal jurisdiction over the primary lender through proper service of process.

Co-Tenancy: In re the Estate of Koeferl — A deed will be interpreted as a joint tenancy whether or not the transferees are married as long as no other intent to convey some other form of title is expressed on the face of the deed.

WHAT'S NEW | Trust, CLE, Process, and Auction Services

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ATG Legal Education logoApril Seminars - Register Now!

4-3-13 | ATG Trust Program: Investment Strategies (Connect webcast) [rescheduled, new date to come]
4-10-13 | Welcome to ATG – Traditional Member Edition (Connect webcast)
4-13-13 | Navigating an Illinois Real Estate Transaction (OnSite, Chicago, IL)
4-13-13 | Navigating a Wisconsin Real Estate Transaction (OnSite, Milwaukee, WI)

See ATG Legal Education at for our current program catalog. You must be a registered site user to take our programs. NOTE: Some seminars are member only.

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Auctions by ATG logoAuctions by ATG - Your REO Resource Your REO Resource - Auctions by ATG provides opportunities for clients on both sides of the transaction: Lenders and Servicers get a faster, more cost-effective platform to dispose of non-performing assets; Investors and Homebuyers get an exciting opportunity to purchase residential real estate at attractive prices. See current and upcoming auctions.

Join Our Email List to receive notices and updates on our auctions. You can bid in person or online. If you have questions, contact Operations Manager Mary Fran Gill, 312.752.1160.

[Last update: 3-26-13; original post date: 3-20-13]