March 23, 2015
As many of you are aware, ReconTrust conducted many foreclosures in Utah. Utah courts have determined that ReconTrust was not a qualified trustee under Utah law. The courts are currently determining whether past foreclosures are valid or if something needs to be done to make them valid. Until we learn the answers to these questions, please seek underwriting approval prior to closing any transactions involving real property where the chain of title discloses that a foreclosure was completed by ReconTrust acting as trustee. Please make sure this bulletin reaches all employees of your title operation, including any in-house title searchers. This bulletin is also being sent to all ATGF approved title searchers.
Please contact Brian Coleman at email@example.com or 801.328.8229, ext. 1301 for any questions or to seek underwriting approval.