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.

An “As Is” Provision in the Sales Contract Does Not Trigger Exclusion 3(a) under the Policy

06/02/2017 - 11:17am
In many sales contracts, the seller may include a provision that the property is being sold “as is” without any warranties or representations as to conformity with building code requirements. While...

Criminals Have a New Target for Wire Transfer Fraud

05/25/2017 - 11:03am
And the Cheat Goes On... by Gregory J. Miely, ATG Senior Underwriting Manager and Corporate Counsel IMPORTANT: Verify Payoff Statements and Wire Transfer Instructions with the Lender before...

Recording Problems: “Legal Description Attached” … Or Is It? - Update

05/12/2017 - 2:34pm
Recording Problems: “Legal Description Attached” … Or Is It? -- Update Recently, foreclosing lenders have begun adding reformation counts to foreclosure proceedings in order to correct the legal...

Title Indemnity Agreements - Update

05/12/2017 - 2:31pm
Title Indemnity Agreements-Update  To prevent confusion after a closing, please fill out ATG Form 3011-A: Personal Undertaking with Title Indemnity Deposit Agreement - Member correctly and completely...

Confirm Wire Instructions before Sending Funds

05/04/2017 - 5:22pm
See our REVISED post, Don't Fall Victim to Wire Fraud Schemes, updated May 4, 2017. New language on #2 confirms that a party should never use contact information supplied in an email they receive for...

Condominiums and Limited Common Element Parking Spaces

04/10/2017 - 3:31pm
Claims that arise in connection with policies that insured a limited common element (“L.C.E.”) parking space tend to be caused by errors on the parking space designation on the declaration or plat....

Claims Corner: FHA and HUD's Refusal to Accept Hold Harmless Letters

03/06/2017 - 1:00pm
ATG has had a sharp increase in the number of claims processed involving unreleased mortgages. The increased is related to lender’s counsel refusing to accept hold harmless letters for unreleased...