- January 11, 2002
- All Issuing Offices in New Jersey
- Rate Manual Changes Effective January 7, 2002
As we previously notified you by our Bulletin dated December 4, 2001, effective January 7, 2002, the Department of Banking and Insurance, at the request of the New Jersey Land Title Insurance Rating Bureau, has approved an increase in the refinance premium rate. The increase is $.25 in all brackets of the refinance rate (Manual paragraph 4.6.1). In addition, the minimum charge, in any transaction, has been increased from $150.00 to $200.00 (Manual paragraph 4.1). These increases are effective for orders or applications received on or after January 7, 2002.
The new Manual pages are available through the New Jersey District Office. Please remove and replace the Rate Manual cover page, pages 14, 17 and A-10.
Also available through the New Jersey District Office is a new rate chart that provides the rates for transactions up to $5,000,000.
Please make certain that all licensed personnel in your office are familiar with these changes.
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.