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: UT2013001
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Bulletin: UT2013001
Dear Associates:
Effective April 29, 2013, the Mortgage Refinance rate was changed in the Rate Manual.
Section B-6 H. Mortgage Refinance currently reads as follows:
"H. Mortgage Refinance
The charge for a lender’s policy issued in connection with the refinance of an existing mortgage or other security instrument that has been secured against the property for less than six (6) years is 55% of the basic schedule of charges."
The modification to said Paragraph H is as follows:
"H. Mortgage Refinance
The charge for a lender’s policy issued in connection with the refinance of an existing mortgage or other security instrument that has been secured against the property is 55% of the basic schedule of charges."
The modification deleted the words “for less than six (6) years”.
This Modification is now in effect.
Please disregard the reference in B-12 (B) to the reissue rate on a lender’s policy.
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
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References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None