Bulletin: LA2014009

Date:
July 18, 2014
To:
All Louisiana Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - ALTA Expanded Coverage Residential Loan Policy 12-02-13 - LA (08-04-14) Jacket Form 3161 and Schedule A & B Form 3161A & 3161B ALTA Short Form Expanded Coverage Residential Loan Policy 07-26-10 - LA (08-04-14) Jacket- Schedule B Form 3162, Schedule A Form 3162A and Addendum Form 3162Add Form Filing Change

Dear Associates:

The Louisiana Department of Insurance has approved a Form Filing made by LATISSO effective August 4, 2014 for the policies referenced below.

ALTA Expanded Coverage Residential Loan Policy 12/02/13 - LA (08/04/14) Form 3161

and

ALTA Expanded Coverage Residential Loan Policy 12/02/13 - LA Schedule A and B (effective 08/04/14) Form 3161A and Form 3161B

LATISSO has made the revisions to the ALTA Expanded Coverage Residential Loan Policy 12/02/13 and its accompanying Schedule A and Schedule B. These revisions have been filed with and approved by the Department of Insurance to become effective for issuance as of August 4, 2014.

Please begin using the ALTA Expanded Coverage Residential Loan Policy 12/02/13 - LA (effective 08/04/14) which has the M-3161 prefix in connection with closings that take place on or after 08/04/14. It replaces the M-3151 policy jacket. This updated ALTA Expanded Coverage Residential Loan Policy 12/02/13 - LA (08/04/14) will be available in your system on August 4, 2014 and will have the policy prefix of M-3161.

The accompanying Schedule A (Form 3161A) and Schedule B (Form 3161B) have also been revised and are posted to www.stewart.com/louisiana in the Forms and Policy Info section in word format if needed. They replace prior versions of the schedules for this policy type.

Please contact your software support team for assistance with set up.

Rate has not changed and remains at 110% of the Original Rate for Loan Policy plus the premium for any endorsement(s) added separately or incorporated into the policy at the rate applicable for such endorsement(s).

ALTA Short Form Expanded Coverage Residential Loan Policy 07/26/10 - LA (effective 08/04/014) Form 3162

and

ALTA Short Form Expanded Coverage Residential Loan Policy 07/26/10 - LA Schedule A (effective 08/04/14) Form 3162A

and

ALTA Short Form Expanded Coverage Residential Loan Policy 07/26/10 - LA Addendum (effective 08/04/14) Form 3162Add

LATISSO has made revisions to the ALTA Short Form Expanded Coverage Residential Loan Policy 07/26/10 and its accompanying Schedule A and Addendum. These revisions have been filed with and approved by the Department of Insurance to become effective as of August 4, 2014.

Please begin using the ALTA Short Form Expanded Coverage Residential Loan Policy 07/26/10 - LA (effective 08/04/14) which has the U-3162 prefix in connection with closings that take place on or after 08/04/14. It replaces the U-3152 policy jacket/Schedule B combined document. This updated ALTA Short Form Expanded Coverage Residential Loan Policy 07/26/10 - LA (08/04/14) will be available in your system on August 4, 2014 and will have the policy prefix of U-3162.

The accompanying Schedule A (Form 3162A) and Addendum (Form 3162Add) have also been revised and are posted to www.stewart.com/louisiana in the Forms and Policy Info section in word format if needed. They replace prior versions of the schedules for this policy type.

Please contact your software support team for assistance with set up.

Because the “short form” incorporates by reference the terms, exclusions and conditions of the “long form”, the “short form” has been revised as a result of the changes to the “long form” detailed above. The 08/04/14 revision amends the language just above the Schedule B heading to reference the American Land Title Association Expanded Coverage Residential Loan Policy 12/02/13 - LA (effective 08/04/14).

Rate has not changed and remains at 110% of the Original Rate for Loan Policy plus the premium for any endorsement(s) added separately or incorporated into the policy at the rate applicable for such endorsement(s).

Questions relating to this bulletin may be directed to Louisiana Underwriting Personnel at (800) 209-4675 or Stewart Legal Services.

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