THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: NY000631
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Bulletin: NY000631
According to Alert 2019-9 issued November 4, 2019 by the Office of the Comptroller of the Currency, counterfeit Official Checks and Cashier’s Checks are being circulated utilizing the following routing number:
Routing No.: 271972912 - First Federal Savings Bank, Ottawa, Ill.
The Alert advises that First Federal Savings Bank does not issue cashier’s checks. Therefore, any check drawn upon the bank marked as a “cashier’s check” is fictitious and should not be accepted. The Alert contains further information about how to identify the counterfeit checks and should be reviewed by following this link: Treasury Alert 2019-9
It is imperative that all closers for your offices be advised of this development immediately. In the event of any uncertainty regarding the authenticity of any check presented at a closing, please call company counsel for guidance before proceeding with the closing.
In the event you have any questions regarding the above please contact Stewart Title Legal Department at 212-922-0050 and speak with any Underwriting Counsel.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None