Bulletin: NJ000100

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Bulletin: NJ000100

Bulletin Document
V 1
Date: March 29, 2005
To: All Issuing Offices in New Jersey
RE: Updates to the Manual of Forms Effective April 8, 2005

Dear Associates:

The Department of Banking and Insurance has approved the following revised and new forms effective April 8, 2005:

  1. Amendment of NJRB 1-14 Homeowner's Policy of Title Insurance for a One-To-Four Family Residence. The form was amended to include the revisions made by ALTA in 2003.

  2. New Form ALTA Short Form Expanded Coverage Residential Loan Policy (NJRB 2-14). This form permits the lender to obtain expanded coverage while enjoying the convenience of the short form.

  3. New Form ALTA Short Form Commitment (NJRB 3-06). This form can be used in conjunction with the short form loan policies to streamline the commitment process.

If you are using a Rate and Form Manual which was issued prior to mid-2004, you should make the following changes to your manual:

  • Replace pages ii, iii and iv in the Forms Manual Index

  • Replace pages 168 through 171

  • Add pages 253 through 256

If you are using a Rate and Form Manual which was issued after mid-2004, you should make the following changes to your manual:

  • Replace pages ii, iv and v in the Forms Manual Index

  • Replace NJRB 1-14 with the revised NJRB 1-14

  • Add new forms NJRB 2-14 and 3-06

You should also note that the Manual of Rates and Forms is now available on-line as part of Virtual Underwriter. To access the Manuals, go to Virtual Underwriter, click on Business Practices, click on New Jersey, and choose either manual.

As always, should you have any questions, please contact the state office.

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:
Underwriting Manual:
  • None
Exceptions Manual:
  • None
Forms:
  • None