Bulletin: PA2015001

Dear Associates:

The Title Insurance Rating Bureau of Pennsylvania (“TIRBOP”) submitted to the Pennsylvania Insurance Department seven (7) new endorsements, and the withdrawal of two (2) endorsements. The forms were approved and will be effective April 1, 2015.

The new endorsements are as follows:

TIRBOP Endorsement 1530 - Future Advances - Priority (ALTA Endorsement 14-06) (Loan Policy Only)

This endorsement insures against loss or damage sustained by reason of the invalidity, unenforceability, or lack of priority of the lien of the Insured Mortgage (1) as security for Advances and re-Advances made after the Date of Policy and (2) resulting from any provisions of the note or loan agreement that provide for (i) interest on interest, (ii) changes in the rate of interest, or (iii) the addition of unpaid interest to the Indebtedness. It also includes coverage for the failure of the Insured Mortgage to comply with the requirements of state law to secure Advances. The Charge for this endorsement is $100.00 when issued with a loan policy insuring 1-4 family residential property. When a policy is issued insuring other property, the Charge is 10%, calculated in accordance with Section 5.2, with a minimum Charge of $500.00.

TIRBOP Endorsement 1540 - Future Advances - Knowledge (ALTA Endorsement 14.1-06) (Loan Policy Only)

This endorsement provides the same coverage as TIRBOP Endorsement PA 1530, except that there is an additional exclusion from coverage for loss or damage resulting from the lack of priority of any Advance made after the Insured has Knowledge of the existence of liens, encumbrances, or other matters affecting the Land intervening between Date of Policy and the Advance. The Charge for this endorsement is $100.00 when issued with a loan policy insuring 1-4 family residential property. When a policy is issued insuring other property, the Charge is 10%, calculated in accordance with Section 5.2, with a minimum Charge of $500.00.

TIRBOP Endorsement 1550 - Utility Access (ALTA Endorsement 17.2-06) (Owner’s Policy Only)

This endorsement provides coverage for loss or damage sustained by the Insured by reason of the lack of a right of access to specifically selected utilities or services, either over, under or upon rights of way or easements for the benefit of the Land. The Charge when issued with an owner’s policy is 10%, calculated in accordance with Section 5.2, with a minimum Charge of $1,000.00. Use of this endorsement is prohibited in conjunction with the issuance of a loan policy insuring 1-4 family residential property.

TIRBOP Endorsement 1551 - Utility Access (ALTA Endorsement 17.2-06) (Loan Policy Only)

This endorsement provides coverage for loss or damage sustained by the Insured by reason of the lack of a right of access to specifically selected utilities or services, either over, under or upon rights of way or easements for the benefit of the Land. The Charge for this endorsement when issued with a loan policy is $500.00. Use of this endorsement is prohibited in conjunction with the issuance of a loan policy insuring 1-4 family residential property.

TIRBOP Endorsement 1560 - Assignment of Rents or Leases (ALTA Endorsement 37-06) (Loan Policy Only)

This endorsement provides coverage for loss or damage sustained by the Insured by reason of (1) a defect in the execution of the Assignment of Rents or Leases or (2) any recorded Assignment of Rents or Leases at Date of Policy other than as shown in the Policy. The Charge for this endorsement is $100.00. Use of this endorsement is prohibited in conjunction with the issuance of a loan policy insuring 1-4 family residential property.

TIRBOP Endorsement 1570 - Tax Credit-Owner’s Policy (ALTA Endorsement 40-06) (Owner’s Policy Only)

This endorsement provides coverage for loss or damage, not exceeding the Amount of Insurance, sustained by the Tax Credit Investor by a reduction in a Tax Credit caused solely by a defect, lien or encumbrance insured against by the policy, and subject to certain limitations set forth in the endorsement. By the endorsement, the Insured assigns to the Tax Credit Investor the right to receive payment of a loss under the policy to the extent of the reduction in the amount of the Tax Credit. The Tax Credit itself is not insured, but the endorsement allows consideration of the reduction of the Tax Credit as an element of loss. The Charge for this endorsement is $500.00. Use of this endorsement is prohibited in conjunction with the issuance of an owner’s policy insuring 1-4 family residential property.

TIRBOP Endorsement 1580 - Tax Credit - Defined Amount- Owner’s Policy (ALTA Endorsement 40.1-06) (Owner’s Policy Only)

This endorsement provides the same coverage as TIRBOP Endorsement PA 1570, except that (1) it establishes an Additional Amount of Insurance designated solely for losses addressed in the endorsement (2) it does not require the Insured to assign its rights to receive loss payments under the policy to the Tax Credit Investor, as the Additional Amount of Insurance is applicable only to the payment of a loss to the Tax Credit Investor and (3) the Amount of Insurance in Schedule A is not available for loss payment to the Tax Credit Investor and a payment of any loss pursuant to the terms of the endorsement to the Tax Credit Investor does not reduce the Amount of Insurance available to the Insured. The Charge for this endorsement is the difference between the Charge for the Amount of Insurance on Schedule A and the Charge when adding the Additional Amount of Insurance. Example: The Amount of Insurance on Schedule A is $30,000,000.00. The Additional Amount of Insurance is $5,000,000.00. The Charge for the endorsement is $6,250.00, being the difference between the Charge for a $30,000,000.00 policy and the Charge for a $35,000,000.00 policy. Use of this endorsement is prohibited in conjunction with the issuance of an owner’s policy insuring 1-4 family residential property.

The following endorsements have been withdrawn simultaneously with the filing of the new endorsement forms:

TIRBOP Endorsement 1000 (Revised 04/01/07) - Mandatory Advance (Loan Policy Only)

TIRBOP Endorsement 1010 (Revised 04/01/07) - Revolving Line of Credit/Open End Mortgage (Loan Policy Only)

The Rate Manual and forms will be available under the “Forms and Policy Information” index on our website: http://www.stewart.com/pennsylvania

Agents using AIM+ should contact PropertyInfo Customer Care to have the changes and new rate(s) implemented into the AIM+ system.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

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