Bulletin: TX2020001

Date:
January 07, 2020
To:
All Texas Issuing Offices
RE:
UNDERWRITING - Texas Department of Insurance (TDI) Updated Title Statistical Codes (Effective 1/1/2020)

Dear Associates:

Texas Land Title Association’s (TLTA) petition to revise certain rate rules was approved and officially ordered by the Commissioner of Insurance in 2019 with statistical codes effective as of January 1, 2020. See Texas Bulletin TX2019006 below for additional information on rate rule changes.

Below are updated Standard Transaction Codes for Texas Operations with edits noted in red. While TDI will make the entire Title Statistical Plan, including the Transaction Codes available on their website in the following weeks, you may now use the chart below for all applicable transactions.

 

 

Description of Transaction

Rate Rule Reference

Code

Change Number

Owner’s Policies

Single Issue

R-1

1000

1

Single Owner’s Policy for Separate Purchases

R-3b

1001

2

Single Issue Pay-As-You-Go

R-2c

1005

 

Single Issue with Subsequent Improvements or Multiple Owner’s Policies surrendered with Single Issue with Subsequent Improvements

R-3a

1100

3(a)

Single Issue Following Construction in excess of $5,000,000

R-20

1190

3(c)

Single Issue U.S.A. (Forms T-6 or T-9)

R-17

7000

 

Single Issue U.S.A. (Form T-11)

R-17

7050

4

Single Owner’s Policy for Separate Purchases Simultaneous with Loan Policy

R-3b

1002

5

Simultaneous with Loan Policy

R-5a

1200

 

Simultaneous with Loan that Exceeds Owner’s

R-5b

1201

6

Simultaneous with Pay-As-You-Go Loan

R-5e

1205

7

Simultaneous with Pay-As-You-Go Loan – Owner’s Exceeds Loan

R-5e

1215

8

Simultaneous with Loan with Credit for Previous Owner’s Policy or Policies (Owner’s Policy issued per P-8a)

R-5c R-5d

1230

9, 10

Owner’s Policy Simultaneous with Loan with Credit for Previous Owner’s Policy or Policies (Owner’s Policy issued without P-8a)

R-5d

1231

11

Simultaneous with Grantor’s

R-21

1250

12

Simultaneous with Loan Following Construction in excess of

$5,000,000

R-20

1290

13

Subsequent to Interim Construction Loan Binder

R-13B(2)

0040

14

Leasehold (Single Issue)

R-1

1300

15

Leasehold Simultaneous with Owner’s Policy

R-22

1350

 

Leasehold Pay As-You-Go (Single Issue)

R-2c

1305

 

Leasehold (Simultaneous Issue)

R-5a

1400

 

Leasehold Pay-As-You-Go (Simultaneous Issue)

R-5e

1405

16

Leasehold (Simultaneous Issue) Loan Exceeds Owner’s

R-5b

1500

17

Leasehold Pay-As-You-Go (Simultaneous Issue) Loan Exceeds Owner’s

R-5e

1505

18

Loan Policies

Single issue

R-1

3000

19

Single Issue (Previously issued variable rate mortgagee or loan policy)

R-4

3001

20

Single Issue Pay-As-You-Go

R-2a

3005

 

Single Issue Construction Loan

R-1

3010

21

Single Issue Refinance of Construction Loan

R-18

3011

22

First Lien Policy – Simultaneous with Subordinate Lien Policy(ies)

R-7

3200

 

Simultaneous with Owner’s Policy

R-5a

3210

 

Simultaneous with Owner’s Policy up to 90 days

R-5f

3211

46

Simultaneous with Owner’s Policy Pay-As-You-Go

R-5e

3215

23

Simultaneous with First Lien Policy

R-7

3220

 

Simultaneous with Owner’s Policy when Loan Policy Exceeds Owner’s

R-5b

3250

24, 25

Simultaneous with Owner’s that Exceeds Loan (Pay-As-You-Go)

R-5e

3255

26, 27

Simultaneous with Owner’s with Credit for Previous Owner’s Policy or Policies

R-5c R-5d

3280

28, 29

Simultaneous with Owner’s Following Construction in excess of

$5,000,000

R-20

3290

30

Limited Pre-Foreclosure Policy (T-98)

R-26

3295

 

Limited Coverage Junior Loan Policy (T-44)

R-27a

3297

31

Leasehold (Single Issue)

R-1

3300

32

Leasehold Pay-As-You-Go (Single Issue)

R-2a

3305

 

Leasehold (Simultaneous Issue)

R-5a

3320

 

Leasehold Pay-As-You-Go (Simultaneous Issue)

R-5e

3325

33

Leasehold (Simultaneous Issue) Loan Exceeds Owner’s

R-5b

3340

34

Leasehold Pay-As-You-Go Simultaneous with Owner’s that Exceeds Loan

R-5e

3345

35

Subsequent to Owner’s Policy Excepting to Lien

R-6a

3230

 

Subsequent to Loan Policy

R-6b

3240

 

Insolvent Insurer Replacement Policy

R-6c

3241

 

Subsequent to Interim Construction Loan Binder

R-13B(1)

0030

36

Refinance of Loan within One Year

R-8a

4001

37

Refinance of Loan within Two Years

R-8a

4002

37

Refinance of Loan within Three Years

R-8b

4003

37

Refinance of Loan within Four Years

R-8c

4004

37

Refinance of Loan within Five Years

R-8d

4005

37

Refinance of Loan within Six Years

R-8e

4006

37

Refinance of Loan within Seven Years

R-8f

4007

37

Refinance of Loan within Eight Years

R-8g

4008

45

Texas Limited Coverage Residential Chain of Title Policy Combined Schedule (T-53)

R-35

6000

39, 40

Interim Construction Loan Binder Transactions

 

 

44

     Note: Moved to Loan Policies section

 

 

37

     Note: Moved to Owner’s Policy section

 

 

14

     Loan Title Policy Binder on Interim Construction
     Loan

R-13

8020

 

     Extension Endorsement

R-13

8021

 


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:
TX2019006 RATES AND/OR FORMS UPDATE - Rate Hearing Results Effective September 1, 2019
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None