- August 06, 2008
- All Florida Issuing Offices
- Notice of Eligibility for Reissue Rate (Revised)
In accordance with Stewart Bulletin FL2007001, it is now MANDATORY that all Florida Stewart Title Issuing Offices inform both the buyer and seller that providing a prior owner’s policy will permit a discounted reissue rate if the transaction is eligible. In order to assist our agents with the task of informing buyers and sellers with the information necessary and to document compliance, the attached Notice of Potential Eligibility for Lower Reissue Rate (Revised) form is being provided to you.
The Notice of Potential Eligibility for Lower Reissue Rate (Revised) should be forwarded with the initial contact letter to both the buyer and seller, alerting them that the customer paying for title insurance may be eligible for a reduced premium and that the prior policy should be provided to the closing agent.
Furthermore, the attached Notice of Potential Eligibility for Lower Reissue Rate (Revised) must be signed by the customer paying for title insurance when the Reissue Rate is NOT given, due to the transaction not being eligible, or the failure to provide a prior owner’s policy. The signed notice must be retained in the closing file.
Please do not hesitate to contact me or any of the underwriting attorneys should you have any questions or concerns regarding this matter.
For on-line viewing of this and other bulletins, log onto http://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.
- Bulletins Replaced:
- FL2007003 This Bulletin has been replaced by FL2008007.
- Related Bulletins:
- FL2007001 Final Order Approving Stewart Title Guaranty Company Florida Class Action Settlement
- FL2008004 Reissue of FL2007001 - Final Order Approving Stewart Title Guaranty Company Florida Class Action Settlement
- Underwriting Manual:
- Exceptions Manual: