Bulletin: KS2016001

Date:
January 27, 2016
To:
All Kansas Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - New ALTA Form

Dear Associates:

The Kansas Department of Insurance has approved for use in Kansas, on or after February 9, 2016, the American Land Title Association (ALTA) Residential Limited Coverage Mortgage Modification Policy. The ALTA Residential Limited Coverage Mortgage Modification Policy may be issued in connection with a modification of a mortgage by an institutional lender covering one-to-four residential real property or condominium. The charge for the Modification Guarantee shall be $150.00. The charges shall not include any charges for separate services, including search services or recording that are provided to institutional lenders.

The KS Arbitration Endorsement 1 is to be used when the policy is issued. 

You must contact Property Info Customer Care or your title production software vendor for implementation of the form in your system. 

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:
ALTA Residential Limited Coverage Mortgage Modification Policy (12-01-14) Technical Correction 08-01-16
 
KS Arbitration Endorsement 1