ATG Needs Members’ Assistance, Timely Requests

ATG's Hold Harmless Department procures hold harmless letters from other title companies as a service to our members. As a result of working with other title companies and title agents on a daily basis, we have a good relationship with many of the employees of these companies and are sometimes able to expedite the issuance of the hold harmless letters. However, even under these positive circumstances, frequent refinancing has made obtaining hold harmless letters a difficult task. Consider the following realities in today's business environment:

• Typically, title companies will not issue a hold harmless letter if they did not insure the owner; we may need your assistance in these situations. It frequently becomes necessary to determine which title company paid off the mortgage in question. As the insured's counsel, you have more leverage with the other title company than we do. We will continue to try to obtain letters for you, but we may need your help if the other title company is not being responsive. Other title companies are responsive to a request for a hold harmless letter only if the request is accompanied by the HUD-1 Statement and the policy from the transaction that the other title company closed.
• It is becoming increasingly difficult to obtain hold harmless letters quickly; please forward your requests as soon as possible—ten days' notice is ideal. Many hold harmless departments at other title companies now have a minimum turnaround time of one and one half weeks. Please forward your requests to us as soon as possible so that we can obtain the letter before your closing. ATG or the member must have the hold harmless letter before the exception in question is waived.
• If you have not received a hold harmless letter for which you've made a request, contact the ATG Hold Harmless Department at least one day in advance of your closing so we can follow up with the other title company. When we receive a hold harmless letter from another title company, we fax it to you right away. If we have not sent it to you, we probably have not received it yet. In those cases, when possible, please contact the Hold Harmless Department at least one day in advance of your closing so we can follow up with the other title company. Please do not assume that ATG has received the hold harmless letter unless you are told so by the Hold Harmless Department.

If you have any questions, please do not hesitate to contact Christine Sparks, Managing Attorney – Claims Department, 312.752.1408, or Marian Baratta, Manager – Hold Harmless Department, 217.403.0135. Thank you for your assistance and cooperation on this matter.