Bulletin: DE2017002

Date:
September 21, 2017
To:
All Delaware Issuing Offices
RE:
RATES AND/OR FORMS UPDATE - Revisions to Delaware Rating Manual, New Endorsements, Revised ALTA Policy Forms, ALTA Closing Protection Letter, Withdrawal of Endorsement and Policy Forms Effective September 1, 2017

Dear Associates:

The Delaware Title Insurance Rating Bureau (“DTIRB”) submitted to the Delaware Insurance Department nineteen new endorsements, three revised endorsements, four revised policy forms, and a revised Closing Protection Letter. Simultaneously, the Rating Bureau is withdrawing three endorsements, the current version of the four revised policy forms, and the current Closing Service Letter. The revised forms were approved and will be effective September 1, 2017.

Furthermore, Section 3.12 SIMULTANEOUS ISSUE paragraphs (A.), (D.), (E.) and (F) have been revised to provide clarification as to the rate to be charged in the specific instance associated with each paragraph; and 3.16 CO-INSURANCE - BASIS FOR CALCULATING RATE has been added to the Rating Manual.

The new endorsements are as follows:

Anti-Taint Endorsement - Loan Policy
(ALTA Endorsement 43-06) DTIRB 66 (09/01/17) 

Assignment of Rents and Leases Endorsement - Loan Policy
(ALTA Endorsement 10-06) DTIRB 67 (09/01/17)

Co-Insurance - Single Policy Endorsement - Owner’s and/or Loan Policy
(ALTA Endorsement 23-06) DTIRB 68 (09/01/17)

Commercial Lender Group Endorsement - Loan Policy
(ALTA Endorsement 42-06) DTIRB 69 (09/01/17)

Contiguity - Single Parcel Endorsement - Loan Policy
(ALTA Endorsement 19.1-06) DTIRB 70 (09/01/17)

Contiguity - Single Parcel Endorsement - Owner’s Policy
(ALTA Endorsement 19.1-06) DTIRB 71 (09/01/17)

Encroachments - Boundaries and Easements - Described Improvements and Land
Under Development Endorsement - Loan Policy 

(ALTA Endorsement 28.3-06) DTIRB 72 (09/01/17)
Encroachments - Boundaries and Easements - Described Improvements and Land 

Under Development Endorsement - Owner’s Policy
(ALTA Endorsement 28.3-06) DTIRB 73 (09/01/17)

Identified Risk Endorsement - Owner’s and/or Loan Policy
(ALTA Endorsement 34-06) DTIRB 74 (09/01/17)

Interest Rate Swap - Additional Interest - Defined Amount Endorsement - Loan Policy (ALTA Endorsement 29.3-06) DTIRB 75 (09/01/17) 

Interest Rate Swap - Direct Obligation - Defined Amount Endorsement - Loan Policy (ALTA Endorsement 29.2-06) DTIRB 76 (09/01/17) 

Pari Passu Mortgage Endorsement - Loan Policy
(ALTA Endorsement 45-06) DTIRB  77 (09/01/17)

Policy Authentication Endorsement - Owner’s and/or Loan Policy
(ALTA Endorsement 39-06) DTIRB 78 (09/01/17)

Private Rights Endorsement - Owner’s Policy
(ALTA Endorsement 9.9-06) DTIRB 79 (09/01/17)

Restrictions, Encroachments, Minerals - Current Violations Endorsement - Loan Policy (ALTA Endorsement 9.10-06) DTIRB - 80 (09/01/17) 

Tax Credit Endorsement - Owner’s Policy
(ALTA Endorsement 40-06) DTIRB 81 (09/01/17)

Tax Credit- Defined Amount Endorsement - Owner’s Policy
(ALTA Endorsement 40.1-06) DTIRB 82 (09/01/17)

Utility Access Endorsement - Loan Policy
(ALTA Endorsement 17.2-06) DTIRB 83 (09/01/17)

Utility Access Endorsement - Owner’s Policy
(ALTA Endorsement 17.2-06) DTIRB 84 (09/01/17)

The revised endorsements are as follows:

Interest Rate Swap - Additional Interest Endorsement - Loan Policy
(ALTA Endorsement 29.1-06) DTIRB 49 (09/01/17)

Interest Rate Swap - Direct Obligation Endorsement - Loan Policy
(ALTA Endorsement 29-06) DTIRB 50 (09/01/17)

Non-Imputation - Partial Equity Transfer - Endorsement - Owner’s Policy
(ALTA Endorsement 15.2-06) DTIRB 33 (09/01/17) 

The revised policy forms are as follows:

ALTA Short Form Residential Loan Policy - Current Violations (04/02/15) - as modified by DTIRB (09/01/17)  

ALTA Homeowners Policy of Title Insurance (For a One-to-Four Family Residence) (12/02/13) 

ALTA Expanded Coverage Residential Loan Policy - Current Assessments (04/02/15) - as modified by DTIRB (09/01/17) 

ALTA Short - Form Expanded Coverage Residential Loan Policy - Current Assessments (04/02/15) - as modified by DTIRB (09/01/17)

The new Closing Protection Letter:

CLOSING PROTECTION LETTER - Single Transaction 

DTIRB CPL (09/01/17)

The following endorsements have been withdrawn simultaneously with the filing of the new endorsement forms: 

Interest Rate Swap - Additional Interest Endorsement - Loan Policy
(ALTA Endorsement 29.1-06) DTIRB 49 (07/15/2011) 

Interest Rate Swap - Direct Obligation Endorsement - Loan Policy
(ALTA Endorsement 29-06) DTIRB 50 (07/15/2011)

Non-Imputation - Partial Equity Transfer - Endorsement - Owner’s Policy
(ALTA Endorsement 15.2-06) DTIRB 33 (12/1/2008)

The following policy forms have been withdrawn simultaneously with the filing of the new policy forms:

ALTA Short Form Residential Loan Policy (06/16/2007) - as modified by DTIRB (12/1/2008) 

ALTA Homeowners Policy of Title Insurance (For a One-to-Four Family Residence) (02/03/10) 

ALTA Expanded Coverage Residential Loan Policy (07/26/10) - as modified by DTIRB (07/15/2011) 

ALTA Short - Form Expanded Coverage Residential Loan Policy (07/26/10) - as modified by DTIRB (07/15/2011)

The following Closing Protection Letter has been withdrawn simultaneously with the filing of the new Closing Protection Letter:

CLOSING PROTECTION LETTER - DTIRB CPL (03/01/2011)

The Rate Manual and forms are available under the “Forms and Policy Information” index on our website: http://www.stewart.com/delaware. The forms are also available on www.vuwriter.com.  

Agents, please contact PropertyInfo Customer Care or your title production software vendor to get the new rates/forms changes implemented in your system.     

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:
DE ALTA Endorsement 17.2-06 (Utility Access Endorsement - Loan Policy) (10/16/08) DTIRB 83 (09/01/17)
 
DE ALTA Endorsement 17.2-06 (Utility Access Endorsement - Owner's Policy) (10/16/08) DTIRB 84 (09/01/17)
 
DE ALTA Endorsement 19.1-06 (Contiguity - Single Parcel Endorsement - Loan Policy) DTIRB 70 (09/01/17)
 
DE ALTA Endorsement 19.1-06 (Contiguity - Single Parcel Endorsement - Owner's Policy) DTIRB 71 (09/01/17)
 
DE ALTA Endorsement 23-06 (Co-Insurance - Single Policy Endorsement - Owner's and/or Loan Policy) (1/1/08) Revised 10/16/08 DTIRB 68 (09/01/17)
 
DE ALTA Endorsement 28.3-06 (Encroachments - Boundaries and Easements - Described Improvements and Land Under Development - Loan Policy) 04-02-15 Technical Correction 12-01-16 DTIRB 72 (09/01/17)
 
DE ALTA Endorsement 28.3-06 (Encroachments - Boundaries and Easements - Described Improvements and Land Under Development - Owner's Policy) 04-02-15 Technical Correction 12-01-16 DTIRB 73 (09/01/17)
 
DE ALTA Endorsement 29-06 (Interest Rate Swap - Direct Obligation Endorsement - Loan Policy) (02-03-10) Technical Corrections (04-2-14; 08-01-16) DTIRB 50 (09/01/17)
 
DE ALTA Endorsement 29.1-06 (Interest Rate Swap Endorsement - Additional Interest Endorsement - Loan Policy) (02-03-10) Technical Corrections (04-02-14; 08-01-16) DTIRB 49 (09/01/17)
 
DE ALTA Endorsement 29.2-06 (Interest Rate Swap - Direct Obligation - Defined Amount Endorsement - Loan Policy) (08-01-11) Technical Corrections (04-02-14)(08-01-16) DTIRB 76 (09/01/17)
 
DE ALTA Endorsement 29.3-06 (Interest Rate Swap Endorsement - Additional Interest - Defined Amount Endorsement - Loan Policy) (08-01-11) Technical Corrections (04-02-14; 08-01-16) DTIRB 75 (09/01/17)
 
DE ALTA Endorsement 34-06 (Identified Risk Endorsement - Owner's and/or Loan Policy) (08-01-11) DTIRB 74 (09/01/17)
 
DE ALTA Endorsement 37-06 (Assignment of Rents and Leases Endorsement - Loan Policy) Revised 02/03/10 DTIRB 67 (09/01/17)
 
DE ALTA Endorsement 39-06 (Policy Authentication Endorsement - Owner's and/or Loan Policy) (04-02-13) DTIRB 78 (09/01/17)
 
DE ALTA Endorsement 40-06 (Tax Credit Endorsement - Owner’s Policy) (04-02-14) DTIRB 81 (09/01/17)
 
DE ALTA Endorsement 40.1-06 (Tax Credit - Defined Amount Endorsement - Owner’s Policy) (04-02-14) DTIRB 82 (09/01/17)
 
DE ALTA Endorsement 42-06 (Commercial Lender Group Endorsement - Loan Policy) (12-02-13) DTIRB 69 (09/01/17)
 
DE ALTA Endorsement 43-06 (Anti-Taint Endorsement - Loan Policy) (12-02-13) DTIRB 66 (09/01/17)
 
DE ALTA Endorsement 45-06 (Pari Passu Mortgage Endorsement - Loan Policy) DTIRB 77 (09/01/17)
 
DE ALTA Endorsement 9.10-06 (Restrictions, Encroachments, Minerals - Current Violations - Loan Policy) (04-02-13) Technical Correction 08-01-16 DTIRB 80 (09/01/17)
 
DE ALTA Endorsement 9.9-06 (Private Rights Endorsement - Owner’s Policy) (04-02-13) DTIRB 79 (09/01/17)
 
DE ALTA Expanded Coverage Residential Loan Policy - Current Assessments (04/02/15) - as modified by DTIRB (09/01/17)
 
DE ALTA Short Form Expanded Coverage Residential Loan Policy - Current Assessments (04-02-15) - as modified by DTIRB (09/01/17)
 
DE ALTA Short Form Residential Loan Policy - Current Violations (04-02-15) - as modified by DTIRB (09/01/17)