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: TX2025001
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Bulletin: TX2025001
Dear Associates:
The Texas Department of Insurance (TDI) adopted changes to the Texas Title Insurance Statistical Plan effective January 1, 2025. The additions or modifications to the existing underwriter statistical plan include the following:
- New statistical codes;
- Clarifying code descriptions and/or references to rate rules;
- Refinance Discount Code changes; and
- Nonsubstantive changes.
New Statistical Codes
What you should know:
There are 12 new codes added. The additional codes are for new endorsements and/or to distinguish endorsement activity to be able to properly charge, account for, and report variations of the same endorsement. The table below provides a list of the statistical codes, rate rule references, form references and endorsement description.
TABLE OF PROPOSED NEW CODES
Code | Rule | Form | Endorsement Description |
0101 | R-11.C.2. | T-3 | Down Date of Interim Construction Loan Binder (T-3) (Not Residential Real Property) |
0921 | R-11.C.2. | T-3 | Down Date of Construction Loan Policy (T-3) (Not Residential Real Property) |
0941 | R-15.b.2. | T-3 | Down Date of Owner’s Policy During Construction (T-3) (Not Residential Real Property) |
0831 | R-37.A. | T-54 | Severable Improvements Endorsement (T-54) |
0832 | R-37.B. | T-55 | Energy Project – Leasehold/Easement Owner’s Endorsement (T-55) |
0833 | R-37.C. | T-55.1 | Energy Project – Leasehold/Easement – Loan Endorsement (T-55.1) |
0834 | R-37.D. | T-55.2 | Energy Project – Leasehold – Owner’s Endorsement (T-55.2) |
0835 | R-37.E. | T-55.3 | Energy Project – Leasehold Loan – Loan Endorsement (T-55.3) |
0836 | R-37.F. | T-55.4 | Energy Project – Fee Estate – Owner’s Endorsement (T-55.4) |
0837 | R-37.G. | T-55.5 | Energy Project – Fee Estate – Loan Endorsement (T-55.5) |
0502 | R-16.A. | T-3 | Loan Policy Amendment of Survey Exception (T-3 or deletion) (No Charge) |
0807 | R-29.2. | T-19.4 | Energy Project – Minerals and Surface Damage Endorsement (T-19.4) |
Clarifying code descriptions and/or references to rate rules
What you should know:
There are 3 types of changes that have been made for clarification purposes.
i. The description for code 0800 is changed to correspond to the name of the endorsement as amended by the TDI Order effective November 1, 2024. The description for this code is now “Revolving Credit (T-35)”.
ii. Rate rule references for codes 0100, 0101, 0141, 0142, 0143, 0150, 0151, 0411, 0412, 0884, 0887, 0920, 0921, 0940, 1205, 1215, 3325, and 3345 are expanded to include a more precise citation of the applicable rule.
iii. Descriptions for codes 0100, 0101, 0143, 0500, 0501, 0810, 0887, 0885, 0886, 0888, 0885, 0886, 0897, 0898, 0889, 0895, 0801, 0802, 0803, 0920, 0921, 0940, and 0941 are modified for consistency purposes, including bifurcating the codes to nonresidential/residential properties.
Refinance Discount Code changes
What you should know:
The identification of the rate rule for refinance discount codes has been modified to properly correspond to the rate rule as was amended in 2018. The below table provides the updated rate rule references.
Description of Transaction | Rate Rule | Code |
Refinance of Loan within One Year | R-8.B.1. (50% discount) | 4001 |
Refinance of Loan within Two Years | 4002 | |
Refinance of Loan within Three Years | 4003 | |
Refinance of Loan within Four Years | 4004 | |
Refinance of Loan within Five Years | R-8.B.2. (25% discount) | 4005 |
Refinance of Loan within Six Years | 4006 | |
Refinance of Loan within Seven Years | 4007 | |
Refinance of Loan within Eight Years | 4008 |
Nonsubstantive changes
What you should know:
There are a number of nonsubstantive changes to formatting and style.
What you should do:
Issuing offices should take steps to ensure that all necessary parties have the correct rates and codes.
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:
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None