Bulletin: NJ2017003

Date:
August 17, 2017
To:
All New Jersey Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Revised Rate Manual

Dear Associates:

Changes have been made to the New Jersey Rate Manual effective August 1, 2017. Please take the opportunity to familiarize yourself with the updated Rate Manual, which the Department of Banking and Insurance has approved for use in New Jersey effective August 1, 2017:

10.16 ALTA 10-06 - ASSIGNMENT OF MORTGAGE has been revised to now read:

When the Insurer is asked to insure the assignment of a mortgage it previously insured, the charge for the issuance of an endorsement insuring the validity of the assignment shall be $50.00 plus the examination charge and applicable pass through charges.

This revision eliminated the requirement that the examination charge not exceed $50.00.

In addition to this change, please be advised that the Stewart Title ICL system has been updated to incorporate the new Closing Protection Letter form. The process for generating a letter within the system has not changed.  

If you have any questions relating to this or other bulletins, please contact the Alabama State Office for assistance.

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