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: MU2023001
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Bulletin: MU2023001
Dear Associates:
The American Land Title Association (ALTA) recently adopted new/revised forms. The new policies and endorsements are below.
The new forms are available on Virtual Underwriter in the New ALTA 2021-2022 Forms Page.
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
ALTA ENDORSEMENTS
(4) ALTA 23.1 Coinsurance Multiple Policies 5-12-22
(5) ALTA Endorsement JR 1 4-2-22
(6) ALTA Endorsement JR 2 4-2-22
(7) ALTA 48 Tribal Waivers and Consents Endorsement 4-2-22
If requested by the customer, the new 2022 ALTA Forms are immediately available for use in Colorado, Illinois, Iowa, Massachusetts, Michigan, Mississippi, Oklahoma, and Tennessee. In those states where form and/or rate filings are required, we will distribute subsequent state-specific bulletins as these forms become available.
Agents please contact PropertyInfo Customer Care or your title production software vendor to get the new forms 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.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- ALTA Endorsement 23.1 (Co-Insurance - Multiple Policies) (5-12-22)
- ALTA Endorsement 48 Tribal Waivers and Consents (4-2-22)
- ALTA JR 1 Endorsement (4-2-22)
- ALTA JR 2 Future Advance Endorsement (4-2-22)
- ALTA Residential Limited Coverage Junior Loan Policy with Arbitration (4-2-22)
- ALTA Residential Limited Coverage Junior Loan Policy without Arbitration (4-2-22)
- ALTA Residential Limited Coverage Mortgage Modification with Arbitration (4-2-22)
- ALTA Residential Limited Coverage Mortgage Modification without Arbitration (4-2-22)
- ALTA Short Form Residential Limited Coverage Junior Loan Policy (4-2-22)