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Special Alert: NY000567

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Special Alert: NY000567

Bulletin Document
V 2
Date: July 10, 2015
To: All New York State Office Counsel, Managers and Agents
RE: Rate Code Changes Effective 8/1/15

Please be advised that the Title Insurance Rate Service Association, Inc. (TIRSA) has approved a revised Remittance Form Coding List.  The revision is due to the new rates regarding refinance transactions which take effect August 1, 2015.

To ensure complete, accurate title insurance statistics and prompt, efficient compliance with the Statistical Plan, the TIRSA Agency Remittance Form and this Remittance Form Coding List are to be used by all Stewart Title Agents operating in the State of New York.

We have attached the new Remittance Coding List for your convenience. The new coding list is also available in the Agent Resource Center on www.stewart.com/new-york. 

If you do not have an Agency Remittance Form, please email your Agency Services Representative to request a Stewart Title Agent Remittance Form in Excel format. Please include your Agent ID in the email.

Once again, all Stewart agents are required to use the Stewart Rate Calculator and print a copy of its calculation for each file. The rate calculator can be found on the following website: http://www.stewartstar.com/SRC/RateCalculator/Main.aspx

Care in calculating rates, accurately reporting policies, and adhering to the TIRSA Manual and your Underwriting Agreement with us is critical. By utilizing these procedures we can enhance our commitment to our customers.

As always, if you have questions, comments or concerns about the new rate codes or how to use the Rate Calculator, please direct those questions and comments to Agency Legal Services. Agency Legal Services can be reached at (212) 922-0050.

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