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.
Bulletin: CO2021003
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Bulletin: CO2021003
Dear Associates:
The Colorado Division of Insurance has approved Stewart’s latest Rate Submission and the new rates are effective as of August 15, 2021.
A copy of the Revised Colorado Manual of Charges and Forms for Title Insurance is available here.
Please contact PropertyInfo Customer Care or your title production software vendor as soon as possible to have the new rate changes implemented in your systems.
A summary of the changes to the Rate Manual is outlined below.
SUMMARY OF CHANGES TO STEWART TITLE GUARANTY COMPANY COLORADO RATE MANUAL
SECTION A:
BASIC RATES:
Area A; C; D; F; J; M; N; P; T; U: Increase in Basic Rate up to 1 million.
Area B: Overall changes in Basic Rate (decrease at some levels, increase at other levels).
Area E; G; H; I; K; L; O; Q; R; S: No change in Basic Rate.
SCHEDULE OF RESIDENTIAL RESALE BUNDLED LOAN CHARGES FOR TITLE INSURANCE (1-4 FAMILY AND IMPROVED) PROPERTIES: (Page 64 of Rate Manual)
Increase in Charges on Liabilities up to $2 million; no change in $/thousand over $2 million.
Also added “Rate shall be rounded to the nearest whole dollar”.
SCHEDULE OF BUNDLED LOAN CHARGES FOR TITLE INSURANCE FOR RESIDENTIAL (1-4 FAMILY AND IMPROVED) PROPERTIES: (Page 65 of Rate Manual)
Changes in Charges (Higher between $100,001 to $250,000. Lower in brackets over $250,000.) Also added “Rate shall be rounded to the nearest whole dollar”.
SCHEDULE OF JUNIOR LOAN CHARGES FOR TITLE INSURANCE FOR RESIDENTIAL (1-4 FAMILY AND IMPROVED) PROPERTIES (Subordinate Mortgages): (Page 66 of Rate Manual)
Decreased Charges for ALL counties in the State; Eliminated County Exceptions.
SCHEDULE OF LIMITED LIABILITY POLICY (A.K.A. HOME EQUITY LIMITED LIABILITY POLICY OR FAST POLICY) FOR TITLE INSURANCE: (Page 67 of Rate Manual)
Total change to Rate Table.
SECTION B:
B-1 CHARGES COMPUTATION (Page 69 of Rate Manual)
The total charge has been changed to be “rounded to the nearest dollar”.
B-10 SHORT TERM RATE - RESIDENTIAL ONLY (Pages 72-73 of Rate Manual)
Changes in wording of Qualification paragraph.
Changes in Charges as follows:
- All Areas Except Area B & D
Time Period Since Previous Policy | Charge |
1 - 2 years | 50% of Basic Rate |
3 - 5 years | 70% of Basic Rate |
- Area B & D
Time Period Since Previous Policy | Charge |
1 - 5 years | 55% of Basic Rate |
NO CHANGES WERE MADE TO THE ENDORSEMENT SECTION.
If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.
For online viewing of this and other bulletins, please log onto www.vuwriter.com.
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.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None