ATGF Blog

Notice to Title Companies on Preferred Legal Description for Properties within or partly within Steck’s Addition, City and County of Denver

posted Dec 8, 2017, 10:09 AM by web admin   [ updated Dec 11, 2017, 6:06 AM ]

For some months we have been working with the Denver City assessor’s office and the Denver City Attorney on the way in which properties which lie within, or partly within, Steck’s Addition to Denver should be described. 

Their concern has been that deeds are recorded using different ways to describe these properties and there is no uniform description. 

In the past, the assessor has “rejected” deeds which, according to the assessor, does not correctly described such properties. As you all aware, the assessor then sends a letter to the grantee under the deed, advising the grantee that the legal description is incorrect and that a correction deed should be recorded to correct the legal description. On recording of the correction deed, the assessor will update its records and transfer the records into the name of the grantee. 

The Denver City assessor and the Denver city attorney have now agreed that the assessor will not reject any deeds which do not comply. There are only a small number of properties affected by this problem in this subdivision. 

Therefore, going forward, deeds conveying properties in Steck’s Addition will be accepted by the assessor. In turn, we have agreed to send out this notice to the LTAC members requesting that going forward, title companies will use, to their best ability, the preferred name for properties in Steck's Addition/East Denver. This will apply to title work and documents affecting title. 

The City’s preferred description for these properties is: 

If the property is completely within the area known as Steck's Addition: 
“East Denver, commonly known as Steck's Addition…….” or “East Denver, commonly referred to as Steck's Addition to Denver" 

If the property is partially within the area known as Stecks Addition: 
Partly in East Denver and partly in what is known as Steck's Addition to Denver" 

Through SKLD, we will arrange for SKLD to update the plat edit for these lots to show the preferred wording. 

The Real Estate Law Section Council, which participated in these discussions, has agreed to send out a similar notice to its members.



ATGF Reports 8th Consecutive Profitable Quarter

posted Aug 23, 2017, 1:41 PM by web admin   [ updated Dec 8, 2017, 10:48 AM ]

For Immediate Release. 
Denver, Colorado  
August 23, 2017   

Eric Morgan, President of Attorneys Title Guaranty Fund, Inc. (ATGF), is pleased to announce the eighth consecutive profitable quarter as reported in the company's Q2 earnings. 

"This is an unprecedented run of consistent financial performance. ATGF hasn't achieved this level of long term profitability for more than 30 years," Morgan stated.


"Our overall risk management program, built around the company's proprietary EPIC technology, automates the title production and underwriting process while increasing efficiency for our agents. This allows us to focus on working with high quality, independent agents that do things the right way," added Morgan.

The company will now turn its energy to growth. With improved financial strength, long-term stability, and extremely low claims exposure, ATGF is primed to grow its network of independent title agents and geographic footprint. "We do need to grow and we want to serve more agents who deserve an underwriter that supports their role in title insurance. That's what we are about," said Morgan.

Changes implemented by new ownership in 2012 have improved the company culture. "We rebuilt this company around providing the best possible support and service to independent title agents. Part of that was retooling our agent base to emphasize quality.  We have hard working agents that are committed to best practices and compliance.  They are energizing to work with and inspire our staff to continually improve how we support them and facilitate their success"
About Attorneys Title Guaranty Fund, Inc.

Founded in 1960, ATGF has been providing best in class title insurance underwriting and services for more than 50 years. The company's mission is helping agents succeed through trusted products and services, innovative technology and amazing support. The company currently pursues this mission by underwriting, training and supporting agents in Colorado, Utah, Minnesota and North Dakota. ATGF has maintained a strong Financial Stability Rating(r) (FSR) of A, Exceptional, from the independent rating agency, Demotech, Inc. For more information on ATGF or EPIC, contact ATGF's president, Eric Morgan at emorgan@atgf.net or 303-383-4321. www.atgf.net

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Attorneys Title Guaranty Fund, Inc. Adds Brian Phillips to Team

posted Mar 29, 2017, 1:20 PM by web admin   [ updated Mar 29, 2017, 1:21 PM ]

For Immediate Release 
Denver, Colorado 
March 27, 2017 

Eric Morgan, President of Attorneys Title Guaranty Fund, Inc. (ATGF) of Denver, Colorado, is pleased to announce that the company has named Brian Phillips as Associate General Counsel. “Brian brings a wealth of real estate and title insurance experience to our team. He’ll be a tremendous asset and resource for our agents” said Eric Morgan. 

In his new position, Mr. Phillips will act as senior underwriting and claims counsel for the company for Colorado and Utah. Prior to joining ATGF, Mr. Phillips was Vice President and Senior Claims Counsel for a major national title insurer. He is licensed in Colorado and Texas and will soon be licensed in Utah.  

“Brian’s skills and experience are tremendous, and he’s a great fit for our culture of agent support and innovation. He’ll be a key contributor in shaping ongoing enhancements to the support services and technology we offer our agents,” said Morgan. 

Mr. Phillips’s extensive experience includes land use disputes, title claims, defense of title insurers, as well as acquisitions, development and finance. He has a proven track record assisting clients and achieving desired results.  Mr. Phillips is a graduate of the University of Denver Sturm College of Law and the University of Colorado. 

About Attorneys Title Guaranty Fund, Inc.
Founded in 1960, ATGF has been providing best in class title insurance underwriting and services for more than 50 years. The company’s mission is helping agents succeed through trusted products and services, innovative technology and amazing support. The company currently pursues this mission by underwriting, training and supporting agents in Colorado, Utah, Minnesota and North Dakota. ATGF has maintained a strong Financial Stability Rating® (FSR) of A, Exceptional, from the independent rating agency, Demotech, Inc. 

For more information on ATGF, contact ATGF’s president, Eric Morgan at emorgan@atgf.net or 303-383-4321. www.atgf.net
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ATGF Reports Record Profits

posted Mar 6, 2017, 1:37 PM by web admin

For Immediate Release 
Denver, Colorado March 3, 2017

Eric Morgan, President of Attorneys Title Guaranty Fund, Inc. (ATGF) is pleased to announce the 2016 annual statement reports a net profit of $553,870, the company’s best financial performance in more than a decade.  

Eric Morgan attributed the strong 2016 financial performance to several factors, including reduced claims on business done in the company’s proprietary title software, strong revenue growth and obtaining licenses in two additional states.  “We had a very successful year on a number of fronts, including expanding our agent base and gaining our Certificate of Authority to operate as an underwriter in two additional states, which is already boosting our bottom line.” 

Morgan points to the company’s proprietary web-based EPIC (Electronic Policy Issuance Capability) title production and underwriting system as the primary driver of the company’s upward trajectory.  “The single most important aspect of the transformation of the company in the last few years has been the deployment of the EPIC system to all of our agents.  It has had a tremendous impact in several ways, including a dramatic reduction in claims expense in recent policy years since we moved all our agents onto the system.  It’s also created tremendous efficiencies for both ATGF and our agents.” The company provides the system to all its agents free of charge.  

Morgan also added the company remains steadfast in its commitment to independent agents. “That’s really what we are about, supporting independent agents.  That’s why everyone on our team gets up and comes to work in the morning – to help our agents succeed.  It’s the absolute core of our company culture.”

About Attorneys Title Guaranty Fund, Inc.

Founded in 1960, ATGF has been providing best in class title insurance underwriting and services for more than 50 years.  The company’s mission is helping agents succeed through trusted products and services, innovative technology and amazing support.  The company currently pursues this mission by underwriting, training and supporting agents in Colorado, Utah, Minnesota and North Dakota, ATGF has maintained a strong Financial Stability Rating® (FSR) of A, Exceptional, from the independent rating agency, Demotech, Inc. 

For more information on ATGF or EPIC, contact ATGF’s president, Eric Morgan at emorgan@atgf.net or 303-383-4321. www.atgf.net

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ATGF Added to the Approved Master Title Underwriter List of Wells Fargo Mortgage Banker Finance Group

posted Jan 25, 2017, 5:48 AM by web admin

January 18, 2017 
 
I’m pleased to announce that Attorneys Title Guaranty Fund, Inc. has been added to the Approved Master Title Underwriter List of Wells Fargo Mortgage Banker Finance Group (WFMBFG). This is a significant achievement for all of us as it recognizes the value WFMBFG places on an ATGF policy. It is also a result of the continued support that you and all our agents have shown to ATGF over the years.
 
This is also significant because WFMBFG is the warehouse lender to a wide variety of mortgage brokers and bankers who rely on WFMBFG’s analysis of title underwriters. These mortgage companies accept or deny the agent’s underwriters based on the Approved Master Title Underwriter List, which I’ve attached to this email for your records.
 
We do not anticipate any issues, but if you receive a lender rejection letter, let us know immediately and we’ll get in touch with the lender involved and attempt to resolve the issue.
 
This announcement is a terrific way to start the year and I believe it signals a strong 2017 for all of us as the U.S. economic forecasts point towards solid growth. This follows our recent underwriting approvals for Minnesota and North Dakota in 2016. We are also developing innovative new offerings to help you remain competitive in 2017 and beyond. If you have any questions or comments, please don’t hesitate to contact me directly.
 
Sincerely,
 
Eric Morgan
President

ATGF Grows in Minnesota and North Dakota

posted Dec 12, 2016, 5:09 AM by web admin

 Dec 12, 2016  

We're proud to announce that ATGF is now a licensed underwriter for North Dakota, effective immediately. Our expanded capability is in addition to the underwriting approval we received earlier this year in Minnesota. Read the full announcement below.

Immediate feedback requested by LTAC on the Colorado DOI Sunset Review

posted Oct 22, 2016, 11:45 AM by web admin

This is a message forwarded on behalf of the Land Titles Association of Colorado (LTAC). 

DOI Sunset Review – NEED FEEDBACK:  
The Sunset Report for DOI has just been published and is attached.  The report contains a recommendation that title insurance companies participate in a recovery fund; the discussion begins on page 61.  It looks like they are contemplating a pre-funding mechanism but no details are provided as to how the pre-funding would occur and at what amount, directing DOI to fill in the blanks through rule-making. 

PLEASE EMAIL YOUR THOUGHTS ON THIS to Land Titles Association of Colorado by Tuesday, October 25.

Colorado DOI releases draft regulations for comment

posted Oct 21, 2016, 12:53 PM by web admin

The Colorado Division of Insurance has released two new draft regulations (8-1-4 & 8-1-5) for comment.  The deadline for comments is 5 pm October 25, 2016.

8-1-4  DRAFT FOR COMMENT

Attached is the draft of proposed new Colorado Insurance Regulation 8-1-4 - Title Insurance – Fiduciary Duties. The purposes of this regulation are to set forth the fiduciary duties of title entities and to create reporting requirements to assist the Division of Insurance (Division) with identifying and mitigating certain risk factors which may have an immediate and direct impact on the solvency of title insurance entities.  The Division requests comments on this new draft regulation, so please submit comments to Matt Mortier at matt.mortier@state.co.us no later than 5 pm, October 25, 2016.  

8-1-5 DRAFT FOR COMMENT 

The Division has also released a draft of proposed new Colorado Insurance Regulation 8-1-5 - Title Insurance Agent Licensing for comment (attached below).  It is believed that this is the language that is left so they may repeal 3-5-1.  The purpose of this regulation is to set forth the title insurance agent licensing requirements.  The Division requests comments on this new draft regulation, so please submit comments to Matt Mortier at matt.mortier@state.co.us no later than 5 pm, October 25, 2016.  



Change in Minnesota Trust Language - Updated

posted Jan 4, 2016, 5:43 AM by web admin   [ updated Jan 4, 2016, 5:45 AM ]

Dec 30, 2015 

There was a revision in the Minnesota Trust Law which became effective January 1, 2016 and affects trusts created before, or after, that date. The language in EPIC has been changed as follows:

Old Language

With respect to the conveyance to be made by _________ as Trustee of _______________, obtain the following for recording: 

a. Complete Trust Instrument (together with any amendments) containing an unrestricted power of sale; OR Certificate of Trust (pursuant to MinnStat. 501B.56); 

b. Affidavit of Trustee (pursuant to MinnStat. 501B.57); and

c. Trustee's Deed to ________________

New Language

With respect to the conveyance to be made by _________ as Trustee of _________________, obtain the following for recording:

a. Complete Trust Instrument (together with any amendments) containing an unrestricted power of sale; OR Certificate of Trust (pursuant to MinnStat. 501C.1013);

b. Affidavit of Trustee (pursuant to MinnStat. 501C.1014); and

c. Trustee’s Deed to _________________.


New Rate Calculator for Colorado and Utah

posted Dec 11, 2015, 8:29 AM by web admin

December 11, 2015 

Introducing our NEW online rate calculators for Colorado and Utah! Go to http://www.atgf.net/agent-services/rates-fees to access the new calculators.

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