Virtual Underwriter

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Bulletin: NY000712

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Bulletin: NY000712

Bulletin Document
Date: October 03, 2024
To: All New York State Agents, Office Counsel, and Managers
RE: UNDERWRITING- Approval of Endorsements ALTA 28 Series and ALTA 9 Series

Dear Associates:

The 7th Revision of the TIRSA Rate Manual (Manual), effective 10/1/2024, requires underwriter approval to issue specific Endorsements set out in Section 33D of the approved Manual.  This Bulletin provides each Stewart Title Insurance Company policy issuing agent the required New York State Department of Financial Services approval to issue the following listed endorsements:

A: The ALTA 28 Series of Endorsements-only

B: The ALTA 9 Series of Endorsements-only

This approval is subject to the requirements set forth in your Underwriter Agreement with Stewart Title Insurance Company, including the limits of liability and Bulletin (NY000710).  In addition to possessing the ordinary and customary knowledge of New York State real estate closings, this approval requires specific knowledge of Stewart's underwriting practices.  To this end, Stewart provides monthly continuing education classes, our Virtual Underwriter, Title Alerts, Underwriting Bulletins, commonly used forms, and recommended manuals and guidelines to familiarize you with our underwriting practices and the requirements to issue the above-referenced Endorsements. 

Our recent webinar pertaining to changes to the TIRSA Rate Manual and a discussion of the aforementioned endorsements and our endorsement manual are available on our website and has been timestamped for your convenience.  Kindly log on to the Stewart Agent Resource Center to access the above documents and other important information.  To access the Agent Resource Center, go to www.stewart.com/new-york and click "Agent Log-In." You will need your Agent ID number to access the Resource Center.  If you do not know your Agent ID number or need assistance accessing our resources, please get in touch with your Stewart representative by calling (212) 922-0050.  In addition, you may also access Stewart Title's Virtual Underwriter system at www.VUWriter.com.

The foregoing authorization does not preclude you from asking questions pertaining to the endorsements, and our underwriting counsel remain ready to assist you with review and selection of the appropriate endorsements.

If you have any questions regarding the above, please get in touch with the Stewart Title Legal Department at 212-922-0050 and speak with any Underwriting Counsel.

Looking for who to call, click on our Quick Reference Guide.  

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