Bulletin: OR2014002

Date:
October 06, 2014
To:
All Oregon Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - New OTIRO Rating Manual - Effective September 8, 2014

Dear Associates:

This Bulletin is sent to advise you of the most updated version of the OTIRO Rating Manual, which became effective September 8, 2014, for all Oregon title insurance agents.

The changes affect Chapter 10 (Endorsements) and are as follows:

 

NEW ENDORSEMENTS:

OTIRO 209.9-06 - Restrictions, Encroachments, Minerals - Loan Policy

OTIRO 211.2-06 - Mortgage Modification with Subordination

OTIRO 212.1-06 - Aggregation - State Limits - Loan Policy

OTIRO 217.2-06 - Utility Access

OTIRO 228.2-06 - Encroachments - Boundaries and Easements - Described Improvements

OTIRO 229.2-06 - Interest Rate Swap - Direct Obligation - Defined Amount

OTIRO 229.3-06 - Interest Rate Swap - Additional Interest - Defined Amount

OTIRO 237-06 - Assignment of Rents or Leases

OTIRO 239-06 - Policy Authentication

 

REVISED ENDORSEMENTS:

OTIRO 209.6-06 - Private Rights - Loan Policy

OTIRO 209.8-06 - Covenants, Conditions, and Restrictions - Land Under Development - Owner’s Policy

OTIRO 212-06 - Aggregation

 

WITHDRAWN ENDORSEMENT:

OTIRO 84 (replaced by OTIRO 237-06)

 

Corresponding sections of Chapter 10 reflect the changes. Also, see the Sept 8, 2014, entry in the Schedule of Changes.

A copy of the OTIRO Rate Manual can be found at http://oregonlandtitle.com/files/otiroratemanual.pdf.  

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.