Bulletin: WA000047

Date:
January 04, 2000
To:
All Issuing Offices and Agents in Washington
RE:
"STAR" Policy

Dear Associates:

Many of you have a Limited Insurance Title Examination (LITE) Rate in your Rate Filing.

We have been selling a Standard Coverage ALTA Loan Policy with Special Exceptions ("STAR") to Washington Mutual and other lenders in King and Snohomish County. I have attached a copy of the King and Snohomish County Rate filing for the product.

If you are interested in having me file a rate for the coverage in your County please let me know.

"STAR" Policy

M.Mortgagee's Equity Rate

The charge for a standard loan policy containing special exceptions to coverage for all covenants, conditions or restrictions, all easements or other servitude's and all mineral reservations which appear of record or indicated on a recorded plat shall be rated in accordance with the following schedule.

Liability   Premium
From To  
$100 $30,000 $75
$30,001 $70,000 $90
$70,001 $100,000 $125
$100,001 $150,000 $150
$150,001 $200,000 $175
$200,001 Over Computed at 50% of the general schedule rates less $125



Add the following special exception in Schedule B - Section 2 of the Commitment and Schedule B of the policy to issue:

1.A. AGREEMENTS, IF ANY, WHICH APPEAR IN THE PUBLIC RECORDS, RELATED TO FUTURE ASSESSMENT OBLIGATIONS NOT YET DUE AND PAYABLE.
B. COVENANTS, CONDITIONS AND RESTRICTIONS AFFECTING TITLE, IF ANY, APPEARING IN THE PUBLIC RECORDS.
C. EASEMENTS, IF ANY, WHICH APPEAR IN THE PUBLIC RECORDS OR ARE SHOWN ON ANY RECORDED PLAT.
D. ANY RESERVATION OF MINERALS OR MINERAL RIGHTS, INCLUDING LEASES OF SAID RIGHTS APPEARING IN THE PUBLIC RECORD.

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:
3.28.6 Schedule A - Analysis Of Commitment
Exceptions Manual:
None
Forms:
ALTA Commitment 1966
 
ALTA Commitment 1982