Bulletin: UT2017001

Date:
April 13, 2017
To:
All Utah Issuing Offices
RE:
RATES AND/OR FORMS UPDATE – Rate and Form Update

Dear Associates:

A new Rate Manual was filed with the Department of Insurance with an effective date of April 2, 2017. Changes to the Rate Manual were chiefly technical in nature. New forms of the seller and lender CPLs were filed. The CPL is still available and the charge was not changed.

The definition of Basic Schedule of Charges was clarified and now reads “Basic Schedule of Charges. The Basic Schedule of Charges refers to the rate calculated according to Section B.1.”

The definition of Standard Coverage was also clarified and now reads: “Standard Coverage. This term refers to a title insurance policy that includes the standard exceptions listed in B.12.”

The charge for the ALTA 11.2-06 was changed to include a charge based on the increased amount of coverage.

The charge for the ALTA 30-06 was changed from $25 to $30.

A charge was added for the issuance of the ALTA 32 series endorsements. Previously there was no charge.

The charge for the ALTA 33-06 and CLTA 122 was changed. Previously the reduced charge only applied if the endorsement was issued within six months of the policy date. The Rate Manual now provides that the reduced charge may be applied if the endorsement is issued within 12 months of the policy date.

Contact PropertyInfo Customer Care or your title production software vendor to get the new rates/forms changes implemented in your system.

Please do not hesitate to call on us if you encounter a problem requiring a solution or if you have a question. We are always happy to assist. 

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