New for '96: Underwriting Library™ Version 3.0"

(Now on CD-ROM)

First American's computerized Underwriting Library has become the source for title insurance information and research. Our new Version 3.0 introduces several powerful new features, as well as fully updated components from the previous version, including

A new volume has also been added describing an array of real estate-related services now available under the umbrella of The First American Financial Corporation.

The Underwriting Library is available for the first time on CD-ROM. By moving to the CD-ROM format, we have taken advantage of the enormous capacity of a compact disc and increased the volume of information from under 10 megabytes in version 2.0 to over 130 megabytes in version 3.0.

One of the Underwriting Library's most exciting new features is the inclusion of scores of scanned images of forms such as the HUD-1 Settlement Statement, transfer affidavits, tax-related forms and charts, deed and mortgage forms, and many more. You can find many of these images within Volumes II and III, and in two new publications within Volume IV: one entitled "Dimensions - A Guide To Describing Real Property" and the other "Real Estate Lawyer's Desk Reference (New York)."

Another new feature is the use of Query Templates. A Query Template is a special way to search through only desired parts of the Underwriting Library for terms or phrases in which you are interested. Some of the Query Templates are very simple, and some allow much more detailed refinement of the searching process.

For those unfamiliar with this software tool, the Underwriting Library operates in Folio VIEWS™ and consists of five Volumes:

In addition to these Volumes, a Glossary, a Directory of First American Offices, and an online User Guide are included.

The Volumes are instantly searchable by any word in the entire Underwriting Library; are linked with other resources in the Library; are more compact and portable than printed material and are far easier to use.

Look for version 3.0 of the Underwriting Library in March. Visit First American's web site on the World Wide Web at www.firstam.com. We will continue to provide the most current title information as it becomes available through our Internet site.

Pilot Program Dramatically Reduces Fraud,

National Notary Association Report Reveals

Reprinted courtesy of CLTA News, a publication of the California Land Title Association.

A report just issued by the National Notary Association documents the remarkable success of a pilot anti-real estate fraud program in stemming escalating property scams in Los Angeles County. The NNA report urges lawmakers to extend the self-supporting program statewide on a permanent basis.

The anti-fraud program, in effect since January 1, 1993, and scheduled to terminate December 31, 1995, has alerted hundreds of homeowners to fraudulent acts affecting their property title and deterred impostors from forging signatures on documents transferring titles.

The program requires signers of deeds affecting real property in Los Angeles County to leave a thumbprint in the Notary's journal and authorizes the Los Angeles County recorder to notify property owners when a deed has been recorded for their property. The notification must be sent within 30 days of recording.

Since the thumbprint requirement went into effect, according to the NNA report, law enforcement and consumer affairs investigators report their forgery caseloads have significantly diminished, and in some cases, disappeared altogether.

And in just a 10-month period, more than 3,400 real-property owners were notified of deed filings they had not authorized, allowing them to take quick action to clear their titles.

The pilot program's property-owner notification option uses no monies from general tax funds. Property owners – those people who benefit from the program – pay a minimal surcharge of $7 when they record their deeds.

The journal thumbprint and property-owner notification programs have been so effective in deterring and detecting frauds that the Los Angeles County Board of Supervisors voted unanimously on January 17, 1995, to endorse the removal of the"sunset date" to make the programs permanent.

The NNA report contains testimony and endorsement of the program by such diverse groups as homeowners, law enforcement officials, consumer advocates, attorneys, Notaries, and surety and title insurance executives. The reasons cited for support include the increased title protection, reduced monetary losses, crime deterrence, and greater ease in prosecuting perpetrators.

The CLTA will continue to follow this issue, which may be extended to a statewide law.

Editorial note: Legislation enacted January 1, 1996, now makes the thumbprint requirement applicable statewide in California, indefinitely.

Covered Risk: for Mortgage Lenders

We are frequently asked to explain differences in coverage between title insurance and other forms of title assurance, such as attorney opinion letters, limited coverage policies and certified searches. To help do this, First American has a new eight-page publication titled, "Covered Risk: for Mortgage Lenders," including true stories from our claim files. For a complimentary copy, please contact your First American representative.

Hey Abbo-o-o-tt!

Tim Sullivan, now in charge of our home office Legal Department, was formerly a practicing lawyer. The following, from a memorable deposition transcript, is an example of Tim's relentless cross-examination technique.

Q: Could you briefly describe the type of construction equipment used in your business?

A: Four tractors.

Q: What kind of tractors are they?

A: Fords.

Q: Mr. Robin, did you say "four"?

A: Ford. Ford. Like the Ford. It is a Ford tractor.

Q: You didn't say "four," you just said "Ford"?

A: Yes, Ford. That is what you asked me, what kind of tractors.

Q: Are there four Ford tractors? Is that what it is?

A: No, no. You asked me what kind of a tractor it was and I said Ford tractors.

Q: How many tractors are there?

A: Four.

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