- February 22, 2018
- All Idaho Issuing Offices
- RATE AND/OR FORMS UPDATE - RATE MANUAL UPDATE Effective February 12, 2018
A number of changes were made to the Rate Manual effective February 12, 2018. The manual was completely reorganized in order to bring simplification to the Schedule of Charges in an effort to make the manual easier to use. The manual format was streamlined to bring simplification and clarification to the charge structure. Below is a summary of the changes.
All of the Basic Rates found on page 7 of the manual remain unchanged.
On Pages 5 and 6 a “Definition” section was added.
On Page 11, Section E-Loan Policies, Item 8-SMART Policies: this section was clarified by inserting a chart to set out the charges that apply to the section as well as clarifying the description for the section.
On Pages 11 and 12 under Section F-Simultaneous Issue: the section was clarified by inserting a chart setting out the charges for the various policy combinations.
On Pages 12 and 13 under Section G-Guarantees, Item 1-Trustee’s Sale Guarantee: This section was revised to clarify and include the conversion of the trustee’s sale guarantee to a policy.
On Page 14 under Section H-Miscellaneous, Item 2-Reissue Charges, Credits, and Additional Fees: the language was clarified in the event the new loan policy amount exceeds the prior policy amount.
Please contact PropertyInfo Customer Care or your title production software vendor to get the changes implemented in your system.
Do not use any Rate Manual (electronic or hard copy) dated prior to February 12, 2018.
These changes have been made to the Rate Manual which can be found at https://www.stewart.com/Idaho.
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.