Bulletin: VA2022003

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Bulletin: VA2022003

Bulletin Document
V 3
Date: October 13, 2022
To: All Virginia Issuing Offices
RE: RATES AND/OR FORMS UPDATE - ALTA Policy Forms and ALTA Endorsement Filings - New Forms

Dear Associates:

The Virginia Bureau of Insurance has approved new ALTA policy and endorsement forms for use in Virginia. The effective date for these new forms is October 14, 2022. The new policies and endorsements are below:

ALTA POLICIES

(1) ALTA Short Form Residential Limited Coverage Junior Loan Policy 4-2-22

(2) ALTA Residential Limited Coverage Junior Loan Policy 4-2-22

(3) ALTA Residential Limited Coverage Mortgage Modification Policy 4-2-22

(4) ALTA Loan Policy of Title Insurance Schedule A, BI, BII 7-1-21

ALTA ENDORSEMENTS

(5) ALTA 23.1 Coinsurance Multiple Policies 5-12-22

(6) ALTA Endorsement JR 1 4-2-22

(7) ALTA Endorsement JR 2 4-2-22

(8) ALTA 48 Tribal Waivers and Consents Endorsement 4-2-22

Agents please contact PropertyInfo Customer Care or your title production software vendor to get the new form changes implemented in your system.

As a reminder, other forms should not be used if a comparable ALTA version is available. If a comparable ALTA version is available, the most current version of the ALTA form available in your state should be used, unless approved by a Stewart Title Guaranty Company underwriter.

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.

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

Bulletins Replaced:
  • None
Related Bulletins:
  • None
Underwriting Manual:
  • None
Exceptions Manual:
  • None
Forms:
  • None