Bulletin: WY2012001

Date:
June 12, 2012
To:
All Wyoming Issuing Offices
RE:
Revised ALTA Forms filed for use in Wyoming

Dear Associates:

Stewart Title Guaranty Company has recently filed the following new (or newer versions of) American Land Title Association (ALTA) forms for use in Wyoming. These forms were approved by the Wyoming Department of Insurance for use in Wyoming as of May 29, 2012.

The American Land Title Association adopted new versions of existing ALTA policies and endorsements that were designed for issuance with the 2006 ALTA Owner and 2006 ALTA Loan Policies which were already approved in Wyoming. The following will outline the policies and endorsements that have been approved:

ALTA Homeowner's Policy of Title Insurance (02/03/10)

The ALTA Homeowner's Policy of title Insurance (02/03/10) is designed to incorporate the changes of the 2006 Owner's Policy and improve the title insurance coverage given to the insured. The only changes in the 2010 policy include:

-The expansion of the Continuation of coverage provision by adding provision b.5 to the policy.

-The inclusion of a creditor's right exclusion (No.7) that is consistent with the Covered risks.

-The new definition for Estate Planning Entity was added to the definition section.

ALTA Expanded Coverage Residential Loan Policy for a One-to-Four Family Residence (7/26/10) (M-9551)
ALTA Short form Expanded Coverage Residential Loan
Policy (7/26/10) (U-9552)

The ALTA Expanded Coverage Residential Loan Policy for a One-to-Four Family Residence (7/27/10) is designed to incorporate the changes of the 2006 Loan Policy and improve the title insurance coverage given to the insured. The only changes in the policy included:  

-The inclusion of a creditor's rights exclusion (No.9) that is consistent with the Covered Risks. 

-The change in Section 8(a)(iii) language to be more consistent to the existing ALTA Loan Policy of 6/17/06. 

Revised Endorsement Forms 

1.   ALTA Endorsement 3.1-06 Zoning - Completed Structure (E-9481) (102209)
2.   ALTA Endorsement 4-06 Condominium (E-9542) (Rev. 020310)
3.   ALTA Endorsement 5-06 Planned Unit Development (E-9543) (Rev. 020310)
4.   ALTA Endorsement 9-06 Restrictions, Encroachments, Minerals-Loan Policy (E9254)(Rev. 020311)
5.   ALTA Endorsement 9.1-06 Restrictions, Encroachments, Minerals - Owner's Policy Unimproved Land (Rev. 020311) (E-9255)
6.   ALTA Endorsement 9.2-06 Restrictions, Encroachments, Minerals - Owner's Po1icyImproved Land (Rev. 2/3/11) (E-9256)
7.   ALTA Endorsement 9.3-06 Restrictions, Encroachments, Minerals - Loan Policy (Rev.2/3/11) (E-9257)
8.   ALTA Endorsement 9.4-06 Restrictions, Encroachments, Minerals - Owner's Policy Unimproved Land (Rev. 020311) (E-9258)
9.   ALTA Endorsement 9.5-06 Restrictions, Encroachments, Minerals - Owner's Policy Improved Land (Rev. 020311) (E-9259)
10. ALTA Endorsement 10-06 Assignment (E-9544) (Rev. 020310)
11. ALTA Endorsement 10.1-06 Assignment and Date Down (E-9545) (Rev. 020310)
12. ALTA Endorsement 13 -06 Leasehold - Owner's (Rev. 020311) (E-9260)
13. ALTA Endorsement 13.1-06 Leasehold - Loan (Rev. 020311) (E-9261 )
14. ALTA Endorsement 14-06 Future Advance - Priority - With MML (Rev. 020311) (E9262)
15. ALTA Endorsement 14-06 Future Advance - Priority - Without MML (Rev. 020311) (E-9263)
16. ALTA Endorsement 14.1-06 Future Advance - Knowledge - With MML (Rev. 020311) (E-9264)
17. ALTA Endorsement 14.1-06 Future Advance - Knowledge - Without MML (Rev. 020311) (E-9265)
18. ALTA Endorsement 14.2-06 Future Advance - Letter of Credit - With MML (Rev. 020311) (E-9266)
19. ALTA Endorsement 14.2-06 Future Advance - Letter of Credit - Without MML (Rev. 020311) (E-9267)
20. ALTA Endorsement 14.3-06 Future Advance - Reverse Mortgage - With MML (Rev. 020311) (E-9268)
21. ALTA Endorsement 14.3-06 Future Advance - Reverse Mortgage - Without MML (Rev. 020311) (E-9269)
22. ALTA Endorsement 28-06 Easement - Damage or Enforced Removal (E-9546) (020310)
 
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:
ALTA Endorsement 10-06 (Assignment) Revised 02/03/10
 
ALTA Endorsement 10.1-06 (Assignment and Date Down) Revised 02/03/10 Technical Correction 08-01-16
 
ALTA Endorsement 13-06 (Leasehold - Owner's) Revised 02-03-11
 
ALTA Endorsement 13.1-06 (Leasehold - Loan) Revised 02-03-11
 
ALTA Endorsement 14-06 (Future Advance - Priority) Revised 02-03-11
 
ALTA Endorsement 14-06 (Future Advance-Priority) (without MML) 02-03-11
 
ALTA Endorsement 14.1-06 (Future Advance - Knowledge) Revised 2-3-11
 
ALTA Endorsement 14.1-06 (Future Advance-Knowledge) (without MML) 02-03-11
 
ALTA Endorsement 14.2-06 (Future Advance - Letter of Credit) Revised 02-03-11
 
ALTA Endorsement 14.2-06 (Future Advance-Letter of Credit) (without MML) 02-03-11
 
ALTA Endorsement 14.3-06 (Future Advance - Reverse Mortgage) Revised 02-03-11
 
ALTA Endorsement 14.3-06 (Future Advance-Reverse Mortgage) (without MML) 02-03-11
 
ALTA Endorsement 28-06 (Easement - Damage or Enforced Removal) Revised 02/03/10
 
ALTA Endorsement 3.1-06 (Zoning-Completed Structure) Revised 10/22/09
 
ALTA Endorsement 4-06 (Condominium - Assessments Priority) Revised 02-03-10 Technical Correction 12-01-16
 
ALTA Endorsement 5-06 (Planned Unit Development - Assessments Priority) Revised 02-03-10 Technical Correction 12-01-16, 12-01-17
 
ALTA Endorsement 9.1-06 Restrictions, Encroachments, Minerals - Owner's Policy - Unimproved Land (Revised 02-03-11)
 
ALTA Endorsement 9.2-06 (Restrictions, Encroachments, Minerals - Owner's Policy - Improved Land) Revised 02-03-11
 
ALTA Endorsement 9.3-06 (Restrictions, Encroachments, Minerals - Loan Policy) Revised 02-03-11
 
ALTA Endorsement 9.4-06 (Restrictions, Encroachments, Minerals - Owner's Policy - Unimproved Land) Revised 02-03-11
 
ALTA Endorsement 9.5-06 (Restrictions, Encroachments, Minerals - Owner's Policy - Improved Land) Revised 02-03-11