Bulletin: TN2016003

Date:
November 02, 2016
To:
All Tennessee Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - FORMS UPDATE

Dear Associates:

The ALTA has added two new Policy Forms.

ALTA Expanded Coverage Residential Loan Policy - Current Assessments provides additional coverage to lenders for certain assessments imposed at Date of Policy.

The ALTA Short Form Expanded Coverage Residential Loan Policy - Current Assessments is the Short Form version of the ALTA Expanded Coverage Residential Loan Policy. It incorporates the issuing provisions, exclusions and conditions of the ALTA policy. It provides additional coverage to lenders for certain assessments imposed at Date of Policy.

These policies will be available to lenders of one-to-four family residential properties, and the charge is one hundred twenty percent (120%) of the Original Charge for Loan Policies.

NOTE: To compute any title insurance charge on a fraction of $1,000 (except as to minimum charges), consider any fraction of $1,000 as full $1,000.

Agents using AIM+ should contact Propertyinfo Customer Care, other agents should check with their provider to have these forms 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:
ALTA Expanded Coverage Residential Loan Policy - Current Assessments (04-02-15)
 
ALTA Short Form Expanded Coverage Residential Loan Policy - Current Assessments (04-02-15)