Bulletin: WI2022003

Dear Associates:

Attached please find the revised Schedule of Charges for Title Insurance in The State of Wisconsin. These changes become effective on September 12, 2022.

Wisconsin Rate Manual (Click here)

The revisions to the Schedule of Charges pertain to, and modify, the following sections of the rate manual:

Section A

4.  Add the word “basic” to the definition of Charge.

Section B

1.  Increase Charge for Foreclosure Commitment from $475 to $525.

Section C

3.  Change Reissue and Abstract Surrender Credit from 80% to 85%; also added the following language:

A Title Commitment is also acceptable for this Charge provided the Title Commitment covers and contains the land being insured by the new Policy, and is accompanied by reasonable evidence that a Policy was issued off the commitment or all requirements were satisfied that would have entitled the name proposed insured to a Policy being issued.

Section D

2.  Increased Refinance Charges for Residential Loan Policies from $400 to $425.

3.  Increased Purchase Money Mortgage Charge from $400 to $425.

7. Increased Charge for Refinance of Residential Construction Loan from $225 to $250.

8. Added ALTA Short Form Residential Limited Coverage Junior Loan Policy form to the current filed rate.

9. Increased Survey Clearance on Non-Residential Loan Policies up to $5,000,000 from $250 to $450.

10. Increased the Non-Simultaneous Issue Loan Policy Charge for Non-Residential Loans from $475 to $500.

Section E

1.  Increased Simultaneous Issue Charge for Residential and Non-Residential Loan Policies.

Residential Loan Policy from $400 to $425

Non-Residential Loan Policy from $425 to $500

Section F

Modified the language of paragraph 5 to read:

5.    Additional Charges for Special or Unusual Conditions, Extended Search Work, Examination of Title or Other Services.

Additional charges may be made when special or unusual conditions are encountered in the examination of title, extended search work required, or special services provided. The additional charges shall be quoted upon request and reasonably commensurate with costs of services rendered, time involved and other relevant factors.  For a Residential owner’s or loan policy in which a request is made for an easement search greater than 40 years, or required under current underwriting guidelines, an additional charge of $250 may apply.

Section G

Eliminated charges for the ALTA 34 and the ALTA 34.1 for Residential transactions.

Added ALTA 48 Tribal Waivers and Consents.

SCHEDULE A - SPECIAL PRODUCTS

            Add the following product and charges:

5. Stewart Title Guaranty Company Limited Coverage STG Home Equity Loan Policy (HELP).

This section applies to Stewart Title Guaranty Company’s issuance of the limited coverage STG Home Equity Loan Policy (HELP) on an existing, improved one-to-four family residential property for home equity loan transactions.

            HELP applies only when all of the following conditions are met:

1. The lender has either successfully enrolled in the Home Equity Loan Program and entered into a contract with Stewart Title Guaranty Company’s Centralized Title Services (CTS) division, or the lender client has signed a Statement of Work which obligates the lender to abide by the rules of the HELP Program;

2. The loan is a home equity loan or a home equity line of credit;

3 . The residential property is an existing, improved, one-to-four family residence;

4. The loan proceeds are not used for the financing of the acquisition of property in a concurrent purchase transaction;

5. The order for the STG Home Equity Loan Policy is placed electronically by the insured or the insured’s authorized agent;

6. The preliminary report and/or title commitment, if issued, is issued and delivered electronically and contains only generic exceptions for such matters like easements and covenants, conditions, and restrictions;

7. The title policy is issued and delivered electronically and contains only generic exceptions for such matters like easements and covenants, and restrictions; and

8. The lender’s title policy issued is a STG Home Equity Loan Policy. 

Additionally, the following forms were filed and are available for use on September 12, 2022: 

• 9067 ALTA 23.1 Coinsurance Multiple Policies 5-12-22
• 9073 ALTA Endorsement JR 1 4-2-22
• 9074 ALTA Endorsement JR 2 4-2-22
• 9075 ALTA 48 Tribal Waivers and Consents Endorsement 4-2-22
• 9072 ALTA Short Form Residential Limited Coverage Junior Loan Policy 4-2-22
• 9219 ALTA Residential Limited Coverage Junior Loan Policy 4-2-22
• 9220 ALTA Residential Limited Coverage Mortgage Modification Policy 4-2-22
• 9211 ALTA Loan Policy of Title Insurance Without Arbitration Schedule A, BI, BII 7-1-21
• 9066 STG Home Equity Loan Policy

As a reminder, the most current version of the ALTA form available in each state for issuance with the applicable version of the ALTA Policy should be used, unless approved by a Stewart underwriter.

Please contact Property Info Customer Care at customercare@stewart.com or your title production software vendor to have the new forms uploaded to your system.

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.