- March 22, 2010
- All Delaware Issuing Offices
- DE Manual of Rules and Rates Revision 3-8-2010
Because of claims on transactions in which creditors' rights coverage is given, and the inability to underwrite what becomes a financial analysis and prediction of future events, Stewart's policy for providing creditors' rights coverage has changed.
The ALTA decertified (withdrew) the ALTA Endorsement 21-06 (Creditors' Rights) as an ALTA Form on February 3, 2010, and the Delaware Title Insurance Rating Bureau has withdrawn the Creditor's Rights Endorsement (DTIRB 41), effective March 8, 2010. Neither the Creditor's Rights Endorsement nor the 1970 policies may be issued in Delaware.
Enclosed please find update pages to be inserted in your DE Manual of Rules and Rates. Should you wish to obtain a full DE Manual of Rules and Rates, please call the state underwriting staff.
Update pages for the DE Manual of Rules and Rates (Click to View)
If you have questions relating to this bulletin, please contact your local underwriting personnel or Stewart Legal Services.
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.