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: LA2011002
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Bulletin: LA2011002
Dear Associates:
The Louisiana Department of Insurance has approved the following changes to the LATISSO Form filing for the ALTA® Short Form Residential Loan Policy-LA (06/16/07) as referenced below. This Form change is effective May 1, 2011.
ALTA® Short Form Residential Loan Policy-LA (06/16/07)
This 06/16/07 revision replaces the prior version (06/17/06) and includes the following changes:
- Schedule A endorsements have been added to the list of endorsements that can be incorporated into the policy by reference in the endorsement checklist. The two additional endorsements are:
LATISSO 100 Collateral Mortgage Endorsement
LATISSO 101 Multiple Indebtedness Endorsement
- Schedule B Exceptions from Coverage and Affirmative Insurances has the addition of:
1. Those taxes or special assessments not shown as liens in the public records at Date of Policy or become due or payable subsequent to Date of Policy. (This does not modify or limit the coverage provided in Covered Risk 11(b).)
The policy number prefix for the ALTA® Short Form Residential Loan Policy-LA (06/16/07) is 9383 for AIM and STEPS generated jackets and 9483 for the paper jacket.
Rate has not changed and remains at the Original Rate for Loan Policy.
The Louisiana Rate and Form Manual has been updated to reflect this change. Please go to www.stewart.com/louisiana for the updated manual and the revised forms in electronic format.
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:
- Underwriting Manual:
- None
- Exceptions Manual:
- None