Bulletin: WI2020001

Dear Associates:

Attached please find the revised Schedule of Charges for Title Insurance in The State of Wisconsin. These changes become effective on January 20, 2020.

Wisconsin Rate Manual (Click to View)

The revisions to the Schedule of Charges pertain to, and modify, the following sections of the rate manual:

Revisions to Section (A) - General Rules and Definitions - Item 2 - Premium Calculations. The section was modified to clarify how to calculate premium charges.

Revisions to Section (A) - General Rules and Definitions - Item 4 - Definitions. The term “Applicable Rate” was added to the defined terms list, and the term “Minimum Charge” was removed.

Revisions to Section (C) - Owner's Policies - Item 1 - Basic Schedule of Charges for Owner’s and Leasehold Policies. This section was revised to reflect an increase for the minimum charge for Owner’s and Leasehold Owner’s Policies from $425 to $475.

Revisions to Section (C) - Owner's Policies - Item 3 - Reissue and Abstract Surrender Credit. This section was revised to clarify when a reissue and abstract surrender credit may be applied and increased the minimum charge from $425 to $475 if the credit is being applied.

Revisions to Section (D) - Loan Policies - Item 1. Basic Schedule of Charges for Loan Policies. This section was revised to reflect an increase for the minimum charge for Loan Policies and Leasehold Loan Policies from $425 to $475.

Revisions to Section (D) - Loan Policies - Item 2. Refinance Charges for Residential Loan Policies. This section was revised to reflect a change in the liability range for an Expedited Search. The former range of $1 - $350K was changed to $1 - $500K. The charge for the new Expedited Search range changed from $350 to $375. This section was also revised to reflect a change in the liability range for a Full Search. The former range of $1 - $350K was changed to $1 - $500K. The charge for the new Full Search range changed from $475 to $500.

Revisions to Section (D) - Loan Policies - Item 3 - Residential Purchase Money Mortgage Charge. This section was revised to change the base Purchase Money Mortgage charge from $350 to $375.

Revisions to Section (D) - Loan Policies - Item 6 - Charges for Residential Construction Loan Policies. This is a new section that provides for charges for new construction on Residential property.

Revisions to Section (D) - Loan Policies - Item 7 - Charges for Refinance of Residential Construction Loan. This section was renumbered and changed the base charge for refinance of a Residential Construction loan from $150 to $200. The revision also provides clarification for charges for any additional insurance requested.

Revisions to Section (D) - Loan Policies - Item(s) 8 and 9 - ALTA Residential Limited Coverage Junior Loan Policy and Survey Clearance on Non-Residential Loan Policies up to $5,000,000. These sections were renumbered but otherwise remain unchanged.

Revisions to Section (D) - Loan Policies - Item 10 - Non-Simultaneous Issue Loan Policy Charge for Non-Residential Loans. This section was renumbered and the minimum charge changed from $500 to $475.

Revisions to Section (E) - Simultaneous Issue - Item 1 - Simultaneous Issue Charge for Residential and Non-Residential Loan Policies. This section was revised to change the base charge for Simultaneous Issue for Residential Loan Policies from $350 to $375.

Revisions to Section (E) - Simultaneous Issue - Item 2 - Simultaneous Issue Charge for Non-Residential Sale-Leaseback Transactions. This section was revised to change the minimum charge from $425 to $475.

Revisions to Section (G) - Endorsements. The ALTA 3.3-06 Zoning-Completed Improvement-Non-Conforming Use and the ALTA 3.4-06 Zoning-No Zoning Classification, were filed and approved for use. The endorsements have a Residential charge of $375 and a Non-Residential charge of $500. Additionally, the ALTA 18.3-06 Single Tax Parcel ID was filed and approved for use. The endorsement has a charge of $125 for both Residential and Non-Residential transactions. Finally, under Other Endorsements, language was added to clarify charges when GAP coverage is being requested in a transaction.

The remainder of the filed Schedule of Charges for Use in the State of Wisconsin remains unchanged.

NOTE: Agents please contact PropertyInfo Customer Care or your title production software vendor to get the new forms and rate changes implemented in your system.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

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