Bulletin: MD2013001

Date:
September 11, 2013
To:
All Maryland Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Revised Schedule of Charges Effective October 1, 2013

Dear Associates:

Stewart Title Guaranty Company has filed revised rates with the Maryland Insurance Administration which will become effective October 1, 2013. An electronic version of the rate book can be found here for your convenience.

The Revised Schedule of Charges contains several important changes.

  • Rates have been adjusted across all tiers. Minimum policy charges and simultaneous issue rates have also changed.
  • The Reissue Rate for Owner’s Policies is now available up to the face amount of the seller’s title policy, regardless of when the seller’s policy was issued.
  • A Residential Refinance Rate has been added. This rate provides a discount on residential refinances without the need to obtain a prior title policy. 

Please remember to continue using the current rate manual for all transactions closing before October 1, 2013.

Any agent using AFW or AFW+ should contact PropertyInfo Customer Care at 1-888-526-3282 to have the new rates implemented in their system. For agents on any other software system, please contact your software provider.

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