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: UT2023002
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Bulletin: UT2023002
Dear Associates:
The following revisions have been made to the Utah Rate Manual. These changes will become effective April 10, 2023. The new Manual will be available at www.stewart.com/Utah. Following is a summary of the changes.
Section B.6.E: SMART Policies (Limited Residential Standard Coverage)
Addition of the SMART Policy (Limited Residential Standard Coverage) to the “Loan Policy” section. This is a standard coverage loan policy with 3 additional exceptions. It is only available to lenders on 1-4 Residential properties. See manual for the schedule of charges.
Section C: Endorsements
Added the following endorsements:
- ALTA 18.3-06 Single Tax Parcel and ID (12-1-18)
- ALTA 23.1 Coinsurance Multiple Policies 5-12-22
- ALTA Endorsement JR 1 (4-2-22)
- ALTA Endorsement JR 2 (4-2-22)
- ALTA 48 Tribal Waivers and Consents (4-2-22)
Deleted the following endorsements:
- ALTA 6.1
- STG Commercial Environmental Endorsement 1
- STG Commercial Environmental Endorsement 2
- STG Doing Business Endorsement
- STG First Loss Endorsement 1
- STG Revolving Credit 1
- STG Revolving Credit 2
- STG Revolving Credit 3
- STG Revolving Credit 4
- STG Revolving Credit/Variable Rate Endorsement
- STG Subdivision Map Act Endorsement 1
- STG Usury Endorsement
- STG Tie-In Endorsement
- STG UT Utilities Available Endorsement 1
- STG UT Impairment of Lien by Use Agreement for Multifamily Projects (HUD) Endorsement 1
In addition to the changes to the rate manual, the following forms are available and effective April 10, 2023.
Policy Forms
- ALTA Residential Limited Coverage Junior Loan Policy (4-2-22)
- ALTA Residential Limited Coverage Mortgage Modification Policy (4-2-22)
- ALTA Short Form Residential Limited Coverage Junior Loan Policy (4-2-22)
- ALTA Loan Policy of Title Insurance, Schedule A, BI, BII (7-1-21) –The version approved in this filing includes item #6 so that the option to incorporate a list of endorsements is now available.
Agents, please contact PropertyInfo Customer Care or your title production software vendor to get the new forms implemented in your systems.
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