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: CA2024008
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Bulletin: CA2024008
Dear Associates:
Stewart Title Guaranty Company (“STG” or “Stewart”) is filing a new amended Schedule of Charges and Forms for Title Insurance in the State of California ("STGC Manual"). This STGC Manual is pending California Department of Insurance approval, anticipated to become effective for orders opened on or after January 13, 2025; please post as required. Attached are the links for your convenience. (Click here to view a copy of the “Redline” and the “Accepted” versions).
There are very few substantive changes to STGC Manual; however, there are a number of clarification and correction changes, and the Table of Contents has been updated. For your convenience, the following is a list of the substantive changes and where substantial corrective changes were made:
(1) Section 2.17 – Binders – there are some clarifications made to this section.
(2) Section 3.16 – ALTA Residential Limited Mortgage Modification Policy – the charging structure is completely changed from a percentage contingent upon prior insurer to a simplistic chart based solely upon the amount of insurance. The result of this change is a significant decrease in the cost of this policy.
(3) Section 10 – Endorsements – the changes include some minor clarifications, the removal of obsolete and duplicate information, the alphabetizing of the Stewart-specific endorsements and the addition of some new Stewart-specific endorsements.
In addition, the following STG - specific endorsement forms are being submitted for filing:
(1) CA STG – Incremental Liability – Land Under Development
(2) CA STG – Modified CLTA 104.10
(3) CA STG – Patent Endorsement 1
(4) CA STG – Patent Endorsement 2
(5) CA STG – Patent Endorsement 3
(6) CA STG – Patent Endorsement 4
Please review the form guidelines on Virtual Underwriter.
If you have any questions about this bulletin, any other bulletin, or any pricing concerns, please contact a member of your Stewart Title Guaranty Company’s California Underwriting Team.
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:
- None