- April 30, 2015
- All New York State Agents
- TIRSA Rate Manual and Rate Changes; Section 14 and New Sections 14 A and B; Effective August 1, 2015
This Bulletin is to advise you of changes to the New York State TIRSA Rate Manual. The changes will be effective August 1, 2015. Section 14: Refinance and Subordinate Mortgage, has been amended to reflect the availability of a further discount if certain conditions are satisfied. Two additional sections: 14A Refinance Loan Same Lender Same Borrower (Residential (1-4 Family) Property only) and 14B Refinance Loan Same Borrower New Lender (Residential (One to Four Family Property) will be available to the consumer beginning August 1, 2015 have been added. Also included in the Rate Manual will be examples on how to apply the rate.
The sections and examples are attached for your review. The Stewart rate calculator will be updated on August 1, 2015 to reflect these changes. Stewart Title Insurance Company will provided additional guidance over the coming weeks regarding this rate change. In the event you have any questions, please contact Agency Legal Services.
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.