Bulletin: MI2016001

Date:
February 04, 2016
To:
All Michigan Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Addendum to the All-Inclusive Residential Rate Manual

Dear Associates:

Please be advised that on January 6, 2016, Stewart Title Guaranty submitted for approval an Addendum to the All-Inclusive Residential Schedule of Charges for Title Insurance in the State of Michigan to add the ALTA Residential Limited Coverage Mortgage Modification Policy (see below for the Addendum and the policy jacket). The Rate Manual approval is effective starting February 9, 2016.

The Rate for issuance is reflected in the Addendum and is a flat charge of $150.00. Note that while the rate does not include any charges for separate services, including abstracting or search services or recording, Michigan is an “all-inclusive rate” state and no additional charges may be exacted for abstracting or searching services. You may charge the client the appropriate recording fees, however.  

You must first secure approval from the Stewart Legal Underwriting Department prior to the issuance of the Modification Policy. Also, please note Agents and offices should contact PropertyInfo Customer Care or their title production software vendor to get the new rates/forms implemented into your systems effective February 9, 2016.  

Please disseminate this Bulletin to all appropriate office personnel.  

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.

ALTA Residential Limited Coverage Mortgage Modification Schedule A 
Michigan Rate Addendum

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
ALTA Residential Limited Coverage Mortgage Modification Policy (12-01-14) Technical Correction 08-01-16