Bulletin: OH2017002

Date:
March 15, 2017
To:
All Ohio Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - New Forms and Rates Approved

Dear Associates:

The Ohio Title Insurance Rating Bureau has approved the following new Forms and Rates for use in Ohio, effective April 1, 2017:

The following forms have been withdrawn and are no longer available for use:

ALTA Endorsement 2 (Truth In Lending) Revised 6/1/87 

ALTA Endorsement 2-06 (Truth In Lending) Adopted 6/17/06

The following Rate Rule has been withdrawn:

ER-2 OTIRB Endorsement OH-2 Truth In Lending (ALTA Form 2)

Revisions to the following forms were made and are now approved for use. Please note that additions made to these forms are merely technical in nature and do not otherwise change the coverage:

ALTA Endorsement 9-06 (Restrictions, Encroachments, Minerals - Loan Policy) Revised 04-01-12, Technical Correction 08-01-16.

ALTA Endorsement 9.7-06 (Restrictions, Encroachments, Minerals - Land Under Development - Loan Policy) Adopted 04-02-12, Technical Correction 08-01-16.

ALTA Endorsement 9.10- 06 (Restrictions, Encroachments, Minerals- Current Violations - Loan Policy) Adopted 04-02-13, Technical Corrections 08-01-16.

ALTA Endorsement 10.1- 06 (Assignment and Date Down) Revised 02-03-10 Technical Correction 08-01-16.

ALTA 29-06 Endorsement (Interest Rate Swap Endorsement - Direct Obligation) Adopted 02- 03-10) Technical Correction 08-01-16.

ALTA 29.1-06 Endorsement (Interest Rate Swap Endorsement - Additional Interest) Adopted 02-03-10, Technical Correction 04-02-14, 08-01-16.

ALTA 29.2-06 Endorsement (Interest Rate Swap Endorsement - Direct Obligation – Defined Amount) Adopted 08-01-11, Technical Correction 04-02-14, 08-01-2016.

ALTA 29.3-06 Endorsement (Interest Rate Swap Endorsement - Additional Interest - Defined Amount) Adopted 08-01-11, Technical Correction 04-02-14, 08-01-16.

ALTA 35-06 Endorsement (Minerals and Other Subsurface Substances - Buildings) Adopted 04-02-12, Technical Correction 08-01-16.

ALTA Endorsement 35.1-06 (Minerals and Other Subsurface Substances - Improvements) Adopted 04-02-12, Technical Correction 08-01-16.

ALTA Endorsement 35.2-06 (Minerals and Other Subsurface Substances - Described Improvement) Adopted 04-02-12, Technical Correction 08-01-16.

ALTA Endorsement 35.3-06 (Minerals and Other Subsurface Substances - Land Under Development) Adopted 04-02-12, Technical Correction 08-01-16.

ALTA Endorsement 36.6-06 (Energy Project - Encroachments) Adopted 04-02-12, Technical Correction 08-01-16.

The abbreviation "OH" was added to the titles of the following forms to clarify that the corresponding ALTA form has been modified for use in Ohio. Coverage under the forms has not changed:

OH ALTA Expanded Coverage Residential Loan Policy - Adopted 10-13-01 Revised 01-01-08, 02-03-10, 07-26-10,12-02-13.

OH ALTA Short Form Expanded Coverage Residential Loan Policy - Revised 01- 01-08, 07-26-10, Technical Correction 06-23-11, Revised 04-02-14.

OH ALTA Short Form Residential Loan Policy - Revised 12- 03-12.

OH ALTA 4-06 (Condominium) - Revised 02-03-10.

The Ohio Rate Manual (draft version, official version expected soon) effective June 1, 2017, will be published shortly. The revised forms approved for use in Ohio are set forth below.

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 each state should be used, unless approved by a Stewart underwriter. 

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

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:
ALTA Endorsement 10.1-06 (Assignment and Date Down) Revised 02/03/10 Technical Correction 08-01-16
 
ALTA Endorsement 29-06 (Interest Rate Swap Endorsement - Direct Obligation) (02-03-10) Technical Corrections (04-02-14; 08-01-16)
 
ALTA Endorsement 29.1-06 (Interest Rate Swap Endorsement - Additional Interest) (02-03-10) Technical Corrections (04-02-14; 08-01-16)
 
ALTA Endorsement 29.2-06 (Interest Rate Swap Endorsement - Direct Obligation - Defined Amount) (08-01-11) Technical Corrections (04-02-14)(08-01-16)
 
ALTA Endorsement 29.3-06 (Interest Rate Swap Endorsement - Additional Interest - Defined Amount) (08-01-11) Technical Corrections (04-02-14; 08-01-16)
 
ALTA Endorsement 35-06 (Minerals and Other Subsurface Substances - Buildings) (04-02-12) Technical Correction 08-01-16
 
ALTA Endorsement 35.1-06 (Minerals and Other Subsurface Substances - Improvements) (04-02-12) Technical Correction 08-01-16
 
ALTA Endorsement 35.2-06 (Minerals and Other Subsurface Substances - Described Improvements) (04-02-12) Technical Correction 08-01-16
 
ALTA Endorsement 35.3-06 (Minerals and Other Subsurface Substances - Land Under Development) (04-02-12) Technical Correction 08-01-16
 
ALTA Endorsement 36.6-06 (Energy Project - Encroachments) (04-02-12) Technical Correction 08-01-16
 
ALTA Endorsement 9-06 (Restrictions, Encroachments, Minerals - Loan Policy) Revised 04-02-12 Technical Correction 08-01-16
 
ALTA Endorsement 9.10-06 (Restrictions, Encroachments, Minerals - Current Violations - Loan Policy) (04-02-13) Technical Correction 08-01-16
 
ALTA Endorsement 9.7-06 (Restrictions, Encroachments, Minerals - Land Under Development - Loan Policy) (04-02-12) Technical Correction 08-01-16
 
OH ALTA Endorsement 4-06 (Condominium) Revised 02-03-10
 
OH ALTA Endorsement Short Form Expanded Coverage Residential Loan Policy Revised (01-01-08; 07-26-10) Technical Correction 06-23-11 Revised 04-02-14
 
OH ALTA Expanded Coverage Residential Loan Policy 10-13-01 (Revised 01-01-08; 02-03-10; 07-26-10;12-02-13)
 
OH ALTA Short Form Residential Loan Policy Revised 12-03-12