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.
Bulletin: TN2011001
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Bulletin: TN2011001
Dear Associates:
Effective March 29, 2011, Schedule D of the Tennessee Rate Manual has been changed. These changes apply only to Shelby County.
Section I.
Original Issue Rates for Owner’s or Loan Policies:
Increase the first $1,000 of liability from $100 to $105.00
Increase amounts over $1,000 and up to $100,000 from $3.50 to $3.75 per
thousand
Increase amounts over $100,000 and up to $1,000,000 from $3.00 to $3.25 per
thousand
Increase Minimum Charge from $100 to $200
Homeowner’s Policy of Title Insurance for a One-to-Four Family Residence or ALTA Expanded Coverage Residential Loan Policy
Increase minimum charge from $110 to $220
Section II.
Minimum reissue charge for Owner’s or Loan policies
Increase from $100 to $200
Section III.
Simultaneous Issuance of Owner’s and Leasehold Owner’s Policies
Increase from $100 to $200
Section IX.
Zoning Endorsement ALTA 3.1
Increase from 10% to 15% of base charge
Added Section X.
Added charges for the following endorsements to Loan Policies:
A. To reflect any changes in the title policy, except an assignment of security instrument
without change in effective date of policy….$50
B. To reflect a change of effective date of policy:
Up to $10,000.00….$1.00 per $1,000
Over $10,000.00….$.50 per $1,000
Minimum charge…$100
C. To reflect a change in status of title:
Up to $10,000.00….$1.00 per $1,000
Over $10,000.00….$.50 per $1,000
Minimum charge…$100
D. To reflect a Modification and/or Extension of policy:
Up to $10,000.00…$1.00 per $1,000
Over $10,000.00….$.50 per $1,000
Minimum charge….$100
E. To facilitate a disbursement pursuant to the Pending Disbursement clause of
policy….$25
Schedule D-1 (Shelby County Search Fees)
Increase Residential 1-4 searches from $185 to $200
If you have questions related 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.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None