Underwriting News

Your source for the latest updates from the ATG Underwriting Department. ATG agents, sign-in above for access to a vast library of resources in the members-only Underwriting Index.

Do You Have Unidentified Funds in Your Closing Account?

08/05/2015 - 10:36am
The Illinois Attorney Registration & Disciplinary Commission, IARDC, issued an E-Alert on July 29, 2015 to remind attorneys that as of July 1, 2015, Rule 1.15(i) has been modified to require...

Water/Sewer Full Payment Certificate Required

08/04/2015 - 3:56pm
Effective August 8, 2015 - Applies Only to Property Located in the City of Chicago  The City of Chicago requires a Full Payment Certificate (FPC) for all transfers of real estate. An FPC is a...

American Land Title Association Hosts TRID Townhall

08/03/2015 - 1:25pm
The American Land Title Association (ALTA) hosted an online TRID Townhall, Tuesday, July 28, 2015, to share what the industry should be doing now to prepare for the implementation of the TILA-RESPA...

Filing Illinois PTAX with MyDec

07/31/2015 - 5:07pm
ATTN: Illinois Attorneys In May 2014, the State of Illinois began transitioning to an online PTAX filing form called MyDec. The goal is to incorporate all Illinois counties by the end of 2015. As of...

New Procedure Involving Strict Foreclosure of an Omitted Subordinate Interest

07/21/2015 - 4:02pm
Public Act 98-1099, effective August 26, 2014, provides a new procedure for extinguishing a subordinate interest on a foreclosed property when that interest was not named in the original foreclosure...

Transfer Taxes in Illinois

07/20/2015 - 10:07am
By John Trepel, ATG Law Clerk This article is a guide to the types of transactions to which the Illinois Real Estate Transfer Tax applies, as well as the transactions exempt from the tax. There is a...

New Casenote: Chicago Title Ins. Co. v. Bass

07/02/2015 - 11:05am
In Chicago Title Ins. Co. v. Bass, 2015 IL App (1st) 140948, the First District Appellate Court held that in an action for breach of warranty deed, the purchaser must prove that the seller used the...