Bulletin: TN2012001

Date:
April 18, 2012
To:
All Tennessee Issuing Offices
RE:
Title Insurance Rate Change in Tennessee

Dear Associates:    

On March 23, 2012, Governor Bill Haslam signed into law Senate Bill 3352 and House Bill 3278. These two bills reduce the population requirements for counties to be considered all inclusive in nature for title insurance premiums. The changes, which are currently in effect, affect Stewart’s filed rates in that now Rutherford and Williamson Counties will be all inclusive counties. They will be added to Schedule A (Davidson County) and omitted from Schedule E, (all other counties, except Davidson, Knox, Shelby and Hamilton), in our rate manual. All other rates remain the same.

The rate calculator will be amended as soon as possible. Any agents using AFW should contact PropertyInfo Customer Care to get the new rate(s) changes implemented in their AFW system.

The new rate(s) should be used immediately. There will be a slight transition term to integrate the new changes.  All issuing agents should review their GFE carefully to determine what the rate is when the estimate was given.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

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.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None