Bulletin: WV2016001

Date:
March 14, 2016
To:
All West Virginia Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Revised Schedule of Rate Charges for use in West Virginia and addition of the ALTA Residential Limited Coverage Mortgage Loan Modification Policy (12-01-14) for issuance

Dear Associates:

Please be advised that the West Virginia Rate Manual and Schedule of Charges was updated January 29, 2016, and approved by the West Virginia Department of Insurance with an effective date for the use of the new manual on April 5, 2016. A true copy of the new West Virginia Rate Manual and Schedule of Charges will be viewable online at http://www.stewart.com/west-virginia. In addition, the ALTA Residential Limited Coverage Mortgage Modification Policy was approved for issuance by the West Virginia Department of Insurance effective March 7, 2016. Note that the West Virginia Specific Endorsement will need to be attached to each ALTA Residential Limited Coverage Mortgage Modification Policy issued. http://www.vuwriter.com/en/forms/2014-1/FM138905491300000005.html

Please note the following:

  • revised minimum charges on all policy issuances
  • commercial rates for original owners or leasehold owners policies 
  • deletion of ALTA endorsements 2, 9.4 and 9.5
  • addition of various ALTA endorsements including but not limited to ALTA 30 - 44 series 
  • changes to the rates for various ALTA endorsements

NOTE:  Agents please contact PropertyInfo Customer Care or your title production software vendor to get the new rates/form changes implemented in your 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:
WV2013002 RATES AND/OR FORMS UPDATE - Revised Schedule of Rate Charges for use in West Virginia
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
ALTA Residential Limited Coverage Mortgage Modification Policy (12-01-14) Technical Correction 08-01-16
 
WV Specific Endorsement with WV Code 114-14-6