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: TX2018004
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Bulletin: TX2018004
Dear Associates:
After several years of working with the title industry, on June 1, 2018, TDI announced rule amendments designed to make a number of technical and conforming corrections. These changes impact 21 rules. The changes will be incorporated into the online Basic Manual published by TDI; the manuals published by TLTA and will need to be incorporated into forms provided by underwriters.
Broadly, the amendments cover 8 issues, several of which deal with the use of TDI Firm IDs rather than agent numbers:
- Changes in HOI regulation P-58 and T-00 dealing with the use of Firm ID Numbers for agents.
- Solvency rules dealing with Forms T-G-1, T-S3, T-S4-A, TS-1, T-S5, and Administrative Rules S.1, S.5 as well as S.3 addressing the release of assets form.
- Changes in several rules to properly use Loan Policy in place of Mortgage Policy and Owner’s Policy in place of Owner Policy.
- Changes to P-9 clarifying when premiums apply in issuing the T-3 endorsement, removing a reference to a withdrawn endorsement, renumber forms after the removal of the withdrawn form, and correcting rate rule references.
- Updating Reverse Mortgage Endorsement T-43 and P-45 to reflect the recent amendment to Article XVI, Section 50(k) of the Texas Constitution.
- Insured Closing Service Letters (ICLs). Underwriters will make the changes to the form that we provide to you.
- T-52 Abstract Plant Information. Underwriters will be making the changes in the forms for use in licensing of agents.
- R-11 to remove references to the withdrawn endorsement and conforming the rule to the rest of the manual.
The effective date of the changes is August 9, 2018.
Detailed information is available at:
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- TX000039 - Reverse Mortgages; Constitutional Amendment (HJR 31; Proposition 8) (Effective January 1, 1998)
- TX2009002 - Agent Solvency - HB 4338 re-write of Title Insurance Act
- TX2012002 - Insured Closing (Closing Protection) Letters Changes (Texas)
- TX2014001 - GENERAL - AGENT SOLVENCY REQUIREMENTS - Commissioner's Order 2806
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- T-00 TX Verification of Services Rendered
- T-3 - I. TX Extension of Construction Binder Endorsement
- T-3 - III. TX Assignment of Lien Endorsement
- T-3 - VII. TX Date Down Interim Construction Loan Endorsement
- T-3 - VIII. TX Date Down Endorsement for Owner's Policy of Title Insurance
- T-3 General Endorsement
- T-3-V TX Down Date Endorsement for Loan Policy
- T-43 TX Reverse Mortgage Endorsement
- T-46 - TEXAS RESIDENTIAL LIMITED COVERAGE JUNIOR LOAN POLICY HOME EQUITY LINE OF CREDIT/VARIABLE RATE ENDORSEMENT