Bulletin: OR2017001

Date:
June 29, 2017
To:
All Oregon Issuing Offices
RE:
RATES AND/OR FORMS UPDATE – Oregon Rate Manual 6-15-17

Dear Associates:

This Bulletin is sent to advise you of the most recent updated version of the OTIRO Rating Manual, which became effective June 15, 2017, for all Oregon title insurance issuing offices. Relevant changes were made to Chapters 6 and 10 and are noted in the Schedule of Changes in the beginning of the Rating Manual.  

The relevant changes are as follows:

  • Revised Table of Contents section 4.006;
  • Sections 1.001(D) and 4.006 to remove reference to Mortgage Modification Limited Policy (PLO-02) and replace with ALTA Residential Limited Coverage Mortgage Modification Policy (PLO-03);
  • Revised Chapter Five Elimination of Standard Exceptions;
  • Revised Schedule Three;
  • Withdraw PLO-02 Mortgage Modification Limited Policy and added new PLO-03 ALTA Residential Limited Coverage Mortgage Modification Policy as its replacement.

Attached is the Revised Rate Manual.

NOTE:  Agents please contact PropertyInfo Customer Care to advise them of the new rate changes and request that they implement the changes in your systems effective June 15, 2017.  

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:
None