Effective November 1, 2024 (Order 2024-8851)

R-6. Subsequent Issuance of Mortgagee Policy
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1. Subsequent to Owner Policy - When a Mortgagee Policy( ies) is requested, subsequent to the issuance of an Owner Policy which excepted to the Vendor's Lien, the premium will be one-half the Basic Rate. The lien to be insured should be as initially created, and excepted to in the Owner Policy, and not an extension or rearrangement thereof. Such Mortgagee Policy( ies) shall be issued in the amount of the current unpaid balance of said indebtedness. The Company will be provided such proof as it may need verifying such overdue balance, that the insolvency is not in default and that there has actually been no acceleration of maturity. THIS RULE MAY NOT BE APPLIED in connection with the issuance of a series of Mortgagee Policies issued by factor of notes being assigned to private systems in connection with a master policy covering the aggregate indebtedness, consisting of enhancements. Individual Mortgagee Policies need to be released at the Basic Rates.

2. Subsequent to Mortgagee Policy - When a Mortgagee Policy( ies) is asked for, for any factor whatsoever, on a lien already covered by an existing Mortgagee Policy( ies), however not on a renewal or extension thereof, the new policy remaining in the amount of the current unpaid balance of the indebtedness, the premium for the brand-new policy shall be at the Basic Rate, but a credit for three-tenths (3/10) of said premium might be allowed. 3. Subsequent to Mortgagee Policy - When an insolvent insurance provider is positioned in permanent receivership by a court of qualified jurisdiction and a Mortgagee Policy( ies) is requested on a lien currently covered by an existing Mortgagee Policy( ies) of stated insolvent insurance company, but not on a loan to use up, renew, extend or please an existing lien, the new policy being in the amount of the existing unpaid balance of the indebtedness, the premium for the brand-new policy will be at the basic rate, however a credit for one-half of stated premium shall be allowed, unless such credit would decrease the premium to less than the minimum Basic Rate, in which case the rate shall be the minimum Basic Rate. The insured will surrender the existing Mortgagee Policy( ies) to the Company when putting the order for a new Mortgagee Policy( ies). The date of Policy for the new policy( ies) will be the exact same Date of Policy as the existing Mortgagee Policy( ies).

R-7. Mortgagee Policies Covering First and Subordinate Liens Issued Simultaneously

When a Mortgagee Policy is released on a Very first Lien, and other policy( ies) is issued on Subordinate Lien( s), developed in the same deal, covering the exact same land or a portion thereof, the premium for the First Lien policy shall be computed on the total of the combined liens; the premium for each Subordinate Lien policy shall be $5.00.

R-8. Loan Policy on a Loan to Take Up, Renew, Extend or Satisfy an Existing Lien( s)

When a Loan Policy is issued on a loan that completely uses up, renews, extends, or satisfies one or more existing liens that are currently guaranteed by one or more existing Loan Policies, the brand-new Loan Policy must be in the amount of the note of the brand-new loan. The premium for the brand-new Loan Policy is reduced by a credit. The credit is calculated as follows:

1. Calculate the Basic Premium on the written benefit balance of the existing loan or the initial quantity of that loan, whichever is less; and 2. Multiply by the portion listed below for the time from the existing Loan Policy date to the new Loan Policy date: 1. 50% when four years or less; 2. 25% when more than four years but less than eight years; or

The premium for the brand-new Loan Policy is the Basic Premium less the credit; however not less than the minimum Basic Premium.

The credit does not use if any residential or commercial property not covered in the existing Loan Policy( ies) is consisted of in the new Loan Policy.

When the existing Loan Policy( ies) included more than one chain of title, and the new Loan Policy likewise includes one or more of the original chains of title, the minimum Basic Premium must be charged for each extra chain of title. (See Rate Rule R-9 for the definition of "extra chain.")

When two or more brand-new Loan Policies are issued on numerous loans to completely take up, restore, extend, or satisfy an existing lien insured by a single Loan Policy, the premium for each brand-new Loan Policy, is the Basic Premium. The credit calculated above need to be applied to the premium for the biggest Loan Policy. A credit should be offered even if not all of the brand-new loans are guaranteed or if only one of the brand-new loans is guaranteed.

THIS RULE MAY NOT BE APPLIED in connection with the issuance of a series of Loan Policies released by reason of notes being allocated to individual systems in connection with a master policy covering the aggregate insolvency, including improvements. Except as otherwise supplied in this rule, individual Loan Policies must be released at the Basic Rate.

R-9. Additional Chains of Title

In case more than one chain of title is associated with the issuance (consisting of determination of insurability of gain access to) of any policy, the Company will charge the minimum policy Basic Premium Rate for each extra chain. For purpose of applying this rule, adjoining parcels of land in one county shall be treated as one chain, offered record title to the land and record title to the gain access to is vested in one owner at the time application is made. Each noncontiguous parcel having a separate chain shall be treated as a separate chain, other than where two or more lots in the very same platted subdivision, and having the exact same plat recording date, belong to the exact same owner, then such will be dealt with as one chain. If the parcels lie in more than one county, there are separate chains of title in each county. No additional chain charge might be made for determination of insurability of access to land located within a subdivision, offered: (i) the subdivision lies in only one county, and (ii) the plat of the neighborhood has actually been legally authorized by a licensed governmental entity, is appropriately recorded, and the roadways shown thereon have been devoted for public usage or for the use of the owners of lots found in the neighborhood.

R-10. Owner's Policies - City Subdivision, Acreage Subdivisions, Industrial Tracts

Rate Rule R-10 is rescinded, effective September 1, 2013, due to obsolescence.

Effective January 3, 2014 (Order 2806)

R-11. Loan Policy Endorsements

Applicable only as provided in Procedural Rule P-9.

Assignment of Mortgage Endorsement (Form T-3, Endorsement Instruction III): If issued within twelve months after the date of the policy, the premium is the minimum Basic Premium Rate. If released more than twelve months after the date of the policy, the premium is the minimum Basic Premium Rate plus $100.00 for each extra full or partial twelve-month period. However, the optimal premium collected need to not be more than 50% of the premium for the loan policy amount based on the current Schedule of Basic Premium Rates If released within twelve months after the date of the policy, the premium is the minimum Basic Premium Rate. If issued more than twelve months after the date of the policy, the premium is the minimum Basic Premium Rate plus $25.00 for each extra full or partial twelve-month duration. However, the maximum premium gathered need to not be more than 50% of the premium for the loan policy quantity based upon the present Schedule of Basic Premium Rates. If the land in the policy is Residential Real Residential or commercial property, the premium is $50.00. If the land in the policy is not Residential Real Residential or commercial property, the premium is $100.00. The premium for the Variable Rate Mortgage Endorsement (Form T-33) is $20.00. The premium for the Variable Rate Mortgage-Negative Amortization Endorsement (Form T-33.1) is: $20.00; or $ 0.00 if an extra premium is charged for the Loan Policy since of an increased policy quantity. The premium for the Manufactured Housing Endorsement (Form T-31) is $20.00. The premium for the Supplemental Coverage Manufactured Housing Unit Endorsement (Form T-31.1) is $50.00. When provided at the time the policy is provided, the premium is 25.00. When released after the date of the policy, the premium is $50.00. The premium is $25.00. However, when several Planned Unit Development Endorsements (Form T-17) are issued at the same time on several Loan Policies covering the very same land, the premium for the very first endorsement is $25.00 and the premium for additional recommendations is $0.00. Title Manual Main Index|Section III Index

R-12. Commitment for Title Insurance

Applicable just as provided in Rule P-18 - The Commitment for Title Insurance shall bear no premium in addition to the premium chargeable for the policy or policies issued pursuant thereto, except that this Rule R-12 shall not apply to any dedication for title insurance issued pursuant to Rate Rule R-23, or Rate Rule R-25.

R-13. Mortgagee Title Policy Binder on Interim Construction Loan

1. Applicable only as supplied in Rule P-16 - A premium charge of an amount equal to the minimum policy Basic Premium Rate will be produced issuance of each Mortgagee Title Policy Binder on Interim Construction Loan. Such Binder will be issued for a term of one year. The original Binder might be extended for 6 (6) additional successive periods of six (6) months each, not to surpass thirty-six (36) months. A premium of $25.00 shall be charged for each successive six (6) month extension. 2. Upon subsequent issuance of: 1. a Mortgagee Policy on a loan to totally use up, renew, extend or satisfy a lien currently covered by a Mortgagee Title Policy on Interim Construction Loan, or. 2. an Owner's Policy on the sale of a residential or commercial property which is overloaded by a lien covered by a Mortgagee Title Policy Binder on Interim Construction Loan and which lien versus the conveyed residential or commercial property is released prior to or simultaneous with the sale, the premium for the brand-new policy will be at the standard rate, but a credit for the premium paid for the Binder will be allowed to the purchaser of the Owner's Policy as follows: Fifty percent (50%) of the premium paid for the Binder (special of extensions), if the subsequent policy is issued within one (1) year from the date of the .

Where more than one Policy may be provided on a part of the residential or commercial property covered by the Binder, just one credit shall be enabled, being on the first Policy issued.

This Rule shall not apply to any Binder issued prior to March 1, 1989, in which case no credit is permitted.

Notwithstanding the provision in Rate Rule R-1, it will be permissible to combine this guideline with Rate Rule R-5 in the calculation of the premium for a Policy. In no occasion shall the superior gathered be less than the regular minimum promulgated rate for a Mortgagee Policy.

The fifty percent (50%) credit will not apply if the Binder covers real residential or commercial property which is being enhanced for enhancements besides one to 4 domestic systems.

Title Manual Main Index|Section III Index

R-14. Foreclosed Properties

When the owner of the residential or commercial property has actually obtained exact same straight through foreclosure under a mortgage insured by a Mortgagee Policy, or the Secretary of Housing and Urban Development or the Administrator of Veteran's Affairs, or as their names may be altered from time to time, has obtained said residential or commercial property be factor of its warranty or endorsement of a mortgage guaranteed by a Mortgagee Policy, and is offering very same, an Owner Policy might be provided on stated sale, or a Mortgagee Policy might be issued on a lien being kept in the deed conveying said residential or commercial property. If only an Owner Policy is released, the charge for that reason will be at the Basic Rate on the complete amount of the consideration of stated sale. If just a Mortgagee policy is issued, the Basic Rate on the full amount of the lien will be charged. In either case, the credit of $15.00 on the entire transaction shall be allowed. In the occasion an Owner Policy and a Mortgagee Policy are provided all at once on a deal as provided in Rule R-5, the synchronised issue rate, along with the credit enabled by this rule, shall use. The $15.00 credit permitted by this guideline shall not apply till the issuing Company is furnished the following:

1. At the time the policy or policies are bought, the seller will transmit to the Company, for its evaluation and use, such evidence as is readily available in the seller's files, including the Mortgagee Policy covering the lien foreclosed, revealing title vested in such seller. This title evidence should be kept in the files of the Company for future referral in case a claim develops under the indemnity arrangement stated in paragraph "b" hereof.