- March 14, 2016
- All West Virginia Issuing Offices
- RATES AND/OR FORMS UPDATE - Revised Schedule of Rate Charges for use in West Virginia and addition of the ALTA Residential Limited Coverage Mortgage Loan Modification Policy (12-01-14) for issuance
Please be advised that the West Virginia Rate Manual and Schedule of Charges was updated January 29, 2016, and approved by the West Virginia Department of Insurance with an effective date for the use of the new manual on April 5, 2016. A true copy of the new West Virginia Rate Manual and Schedule of Charges will be viewable online at http://www.stewart.com/west-virginia. In addition, the ALTA Residential Limited Coverage Mortgage Modification Policy was approved for issuance by the West Virginia Department of Insurance effective March 7, 2016. Note that the West Virginia Specific Endorsement will need to be attached to each ALTA Residential Limited Coverage Mortgage Modification Policy issued. http://www.vuwriter.com/en/forms/2014-1/FM138905491300000005.html
Please note the following:
- revised minimum charges on all policy issuances
- commercial rates for original owners or leasehold owners policies
- deletion of ALTA endorsements 2, 9.4 and 9.5
- addition of various ALTA endorsements including but not limited to ALTA 30 - 44 series
- changes to the rates for various ALTA endorsements
NOTE: Agents please contact PropertyInfo Customer Care or your title production software vendor to get the new rates/form changes implemented 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.
- Bulletins Replaced:
- WV2013002 RATES AND/OR FORMS UPDATE - Revised Schedule of Rate Charges for use in West Virginia
- Related Bulletins:
- Underwriting Manual:
- Exceptions Manual: