Bulletin: MU2009006

Date:
May 04, 2009
To:
All Issuing Offices except Florida, Louisiana, New Mexico, New York, Oregon and Texas
RE:
New ALTA Forms

Dear Associates:   

The American Land Title Association (ALTA) has recently adopted the following new or revised forms:

° ALTA Endorsement 4-06 (Condominium) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 4-06.  Please see the corresponding Guideline (Click to View) for additional information.   

° ALTA Endorsement 4.1-06 (Condominium) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 4.1-06.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 5-06 (Planned Unit Development) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 5-06.  Please see the corresponding Guideline (Click to View) for additional information. 

° ALTA Endorsement 5.1-06 (Planned Unit Development) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 5.1-06.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 6-06 (Variable Rate Mortgage) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 6-06.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 6.2-06 (Variable Rate Mortgage-Negative Amortization) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 6.2-06.  Please see the corresponding Guideline (Click to View) for additional information. 

° ALTA Endorsement 8.2-06 (Commercial Environmental Lien) (10-16-08).  The ALTA adopted this endorsement on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 10-06 (Assignment) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 10-06.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 10.1-06 (Assignment and Date Down) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 10.1-06.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 14.2-06 (Future Advance-Letter of Credit) Revised 02-28-09.  This endorsement replaces the prior ALTA Endorsement 14.2-06.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 17.2-06 (Utility Access) (10-16-08).  The ALTA adopted this endorsement on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.   

° ALTA Endorsement 23-06 (Co-Insurance-Single Policy) (1-1-08) Revised 10-16-08.  This endorsement replaces the prior ALTA Endorsement 23-06.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 24-06 (Doing Business) (10-16-08).  The ALTA adopted this endorsement on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 25-06 (Same as Survey) (10-16-08).  The ALTA adopted this endorsement on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 25.1-06 (Same as Portion of Survey) (10-16-08).  The ALTA adopted this endorsement on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 26-06 (Subdivision) (10-16-08).  The ALTA adopted this endorsement on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 27-06 (Usury) (10-16-08).  The ALTA adopted this endorsement on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Endorsement 28-06 (Easement-Damaged or Enforced Removal) (10-16-08).  The ALTA adopted this endorsement on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.    

° ALTA Short Form Commitment Revised 10-16-08.  This commitment replaces the 2004 Short Form Commitment. Please see the corresponding Guideline (Click to View) for additional information. 

° ALTA UCC Facultative Reinsurance Agreement (10-16-08).  The ALTA adopted this form on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.   

° ALTA International Facultative Reinsurance Agreement Without Direct Access (10-16-08).  The ALTA adopted this form on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA International Facultative Reinsurance Agreement with Direct Access (10-16-08).  The ALTA adopted this form on 10-16-08.  Please see the corresponding Guideline (Click to View) for additional information.  

° ALTA Standard Exceptions (10-16-08).  The ALTA revised the Standard Exceptions for the ALTA Loan Policy on 10-16-08.  Among other updates, these revisions serve to update the exceptions using the Defined Terms of the 2006 Basic Policy Forms.  Please see the ALTA Standard Exceptions (Click to View).

° ALTA Model Inter-Underwriter Indemnification Agreement (02-28-09).  The ALTA adopted this form on 02-28-09.  Please see the corresponding Guideline (Click to View) for additional information.  

We are in the process of filing these new and revised forms where filing is required.  You may continue to issue the prior versions where available.

If you have questions relating to this bulletin, please contact your local underwriting personnel or Stewart Legal Services.

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:
MU2008002 New ALTA Forms
 
SLS00307 2006 ALTA Forms
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
ALTA Endorsement 10-06 (Assignment) Revised 10/16/08
 
ALTA Endorsement 10.1-06 (Assignment and Date Down) Revised 10/16/08
 
ALTA Endorsement 14.2-06 (Future Advance-Letter of Credit) (with MML) (02/28/09)
 
ALTA Endorsement 17.2-06 (Utility Access) (10/16/08)
 
ALTA Endorsement 23-06 (Co-Insurance - Single Policy) (1/1/08) Revised 10/16/08
 
ALTA Endorsement 24-06 (Doing Business) (10/16/08)
 
ALTA Endorsement 25-06 (Same as Survey) (10/16/08)
 
ALTA Endorsement 25.1-06 (Same as Portion of Survey) (10/16/08)
 
ALTA Endorsement 26-06 (Subdivision) (10/16/08)
 
ALTA Endorsement 27-06 (Usury) (10/16/08)
 
ALTA Endorsement 28-06 (Easement - Damage or Enforced Removal) (10/16/08)
 
ALTA Endorsement 4-06 (Condominium) Revised 10/16/08
 
ALTA Endorsement 4.1-06 (Condominium - Current Assessments) Revised 10-16-08 Technical Correction 12-01-16
 
ALTA Endorsement 5-06 (Planned Unit Development) Revised (10/16/08)
 
ALTA Endorsement 5.1-06 (Planned Unit Development - Current Assessments) Revised 10-16-08 Technical Correction 12-01-16, 12-01-17
 
ALTA Endorsement 6-06 (Variable Rate Mortgage) Revised (10/16/08)
 
ALTA Endorsement 6.2-06 (Variable Rate Mortgage - Negative Amortization) Revised (10/16/08)
 
ALTA Endorsement 8.2-06 (Commercial Environmental Protection Lien) (10/16/08)
 
ALTA International Facultative Reinsurance Agreement With Direct Access (10/16/08)
 
ALTA International Facultative Reinsurance Agreement Without Direct Access (10/16/08)
 
ALTA Model Inter-Underwriter Indemnification Agreement (02/28/09)
 
ALTA UCC Facultative Reinsurance Agreement (10/16/08)