Bulletin: TN2012003

Date:
September 19, 2012
To:
All Tennessee Issuing Offices
RE:
Rate Revision

Dear Associates: 

There has been a revision to the Tennessee Title Insurance Rates. The only changes are the minimum charges for the Reissue Charge for the Owner's Policy and the minimum charge for the Refinance Charge for Loan Policies on Schedule E. Sections 3 and 4. (Page 21 of the Rate Manual) Said Sections have been revised to read as follows: 

   3. Reissue Charge for Owner’s Policies 

The Reissue charge for a new policy or endorsement to an existing policy issued less than 10 years ago is available to a new purchaser or lessor. The Reissue Charge shall be seventy percent (70%) of the original Charges up to the coverage amount of the previous policy. The Original Charge in the applicable bracket/brackets will apply to coverage in excess of the amount of the previous policy. 

Minimum Charge:  $150.00 

The company is under no obligation to seek or make a determination of the existence of a previous policy. 

   4. Refinance Charge for Loan Policies 

A Refinance charge is available to a borrower obtaining a replacement or refinance loan on property covered by a previous loan policy on an existing mortgage or an Owner's Policy issued to the borrower on the subject property issued within the last ten (10) years. The Refinance Charge shall be seventy percent (70%) of the Original Issue Charges up to the coverage amount of the previous policy. The Original Issue Charge in the applicable bracket/brackets will apply to coverage in excess of the amount of the previous policy. 

Minimum Charge:  $150.00 

The company is under no obligation to seek or make a determination of the existence of a previous policy. 

NOTE:  Any Agent using AFW must contact PropertyInfo's Customer Care to get the new rate(s) changes implemented in their system. 

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