Effective November 1, 2024 (Order 2024-8851)

R-6. Subsequent Issuance of Mortgagee Policy

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 must be as originally created, and excepted to in the Owner Policy, and not an extension or rearrangement thereof. Such Mortgagee Policy( ies) shall be released in the amount of the present overdue balance of said insolvency. The Company shall be furnished such proof as it might need verifying such overdue balance, that the insolvency is not in default and that there has actually been no velocity of maturity. THIS RULE MAY NOT BE APPLIED in connection with the issuance of a series of Mortgagee Policies provided by factor of notes being assigned to private units in connection with a master policy covering the aggregate indebtedness, consisting of enhancements. Individual Mortgagee Policies need to be issued at the Basic Rates.

2. Subsequent to Mortgagee Policy - When a Mortgagee Policy( ies) is asked for, for any reason whatsoever, on a lien currently covered by an existing Mortgagee Policy( ies), but not on a renewal or extension thereof, the new policy remaining in the quantity of the existing unpaid balance of the indebtedness, the premium for the new policy shall be at the Basic Rate, but a credit for three-tenths (3/10) of stated premium may be allowed. 3. Subsequent to Mortgagee Policy - When an insolvent insurer is put in permanent receivership by a court of qualified jurisdiction and a Mortgagee Policy( ies) is asked for on a lien already covered by an existing Mortgagee Policy( ies) of said insolvent insurer, however not on a loan to use up, restore, extend or please an existing lien, the brand-new policy being in the quantity of the existing unsettled balance of the insolvency, the premium for the brand-new policy shall be at the fundamental rate, but a credit for half of said premium will be enabled, unless such credit would reduce the premium to less than the minimum Basic Rate, in which case the rate will be the minimum Basic Rate. The insured shall give up 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) shall 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 is provided on a Very first Lien, and other policy( ies) is released on Subordinate Lien( s), created in the exact same transaction, covering the same land or a portion thereof, the premium for the First Lien policy shall be computed on the overall of the combined liens; the premium for each Subordinate Lien policy shall be $5.00.

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

When a Loan Policy is issued on a loan that totally uses up, restores, extends, or pleases one or more existing liens that are already guaranteed by one or more existing Loan Policies, the new Loan Policy need to remain 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 determined as follows:

1. Calculate the Basic Premium on the written benefit balance of the existing loan or the original quantity of that loan, whichever is less; and 2. Multiply by the percentage below for the time from the existing Loan Policy date to the brand-new Loan Policy date: 1. 50% when 4 years or less; 2. 25% when more than four years however less than eight years; or

The premium for the new Loan Policy is the Basic Premium less the credit; but 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 brand-new Loan Policy likewise includes several of the initial chains of title, the minimum Basic Premium must be charged for each extra chain of title. (See Rate Rule R-9 for the meaning of "extra chain.")

When 2 or more new Loan Policies are provided on multiple loans to completely use up, restore, extend, or please an existing lien guaranteed by a single Loan Policy, the premium for each new Loan Policy, is the Basic Premium. The credit computed above need to be applied to the premium for the largest Loan Policy. A credit should be offered even if not all of the new loans are guaranteed or if only one of the new loans is guaranteed.

THIS RULE MAY NOT BE APPLIED in connection with the issuance of a series of Loan Policies provided by factor of notes being allocated to specific units in connection with a master policy covering the aggregate indebtedness, including improvements. Except as otherwise provided in this rule, specific Loan Policies need to be provided at the Basic Rate.

R-9. Additional Chains of Title
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In the occasion more than one chain of title is included in the issuance (including determination of insurability of access) of any policy, the Company will charge the minimum policy Basic Premium Rate for each extra chain. For function of applying this rule, adjoining tracts in one county shall be treated as one chain, provided 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 will be dealt with as a different chain, other than where two or more lots in the very same platted subdivision, and having the very same plat recording date, belong to the exact same owner, then such will be dealt with as one chain. If the parcels of land lie in more than one county, there are different chains of title in each county. No extra chain charge may be made for decision of insurability of access to land situated within a subdivision, supplied: (i) the neighborhood lies in just one county, and (ii) the plat of the subdivision has been legally authorized by an authorized governmental entity, is duly taped, and the roads revealed thereon have actually been dedicated for public use or for the use of the owners of lots found in the subdivision.

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

Rate Rule R-10 is rescinded, effective September 1, 2013, due to obsolescence.
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Effective January 3, 2014 (Order 2806)

R-11. Loan Policy Endorsements

Applicable only as supplied 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 provided more than twelve months after the date of the policy, the premium is the minimum Basic Premium Rate plus $100.00 for each additional complete or partial twelve-month duration. However, the optimal premium gathered should not be more than 50% of the premium for the loan policy amount based upon the current Schedule of Basic Premium Rates If provided 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 additional full or partial twelve-month period. However, the maximum premium gathered need to not be more than 50% of the premium for the loan policy quantity based on the existing 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 additional premium is charged for the Loan Policy due to the fact that of an increased policy amount. 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 issued at the time the policy is issued, the premium is 25.00. When provided 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 provided at the same time on several Loan Policies covering the exact same land, the premium for the first endorsement is $25.00 and the premium for extra endorsements 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 will not apply to any dedication for title insurance released pursuant to Rate Rule R-23, or Rate Rule R-25.

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

1. Applicable just as provided in Rule P-16 - A premium charge of a quantity equal to the minimum policy Basic Premium Rate shall be made for issuance of each Mortgagee Title Policy Binder on Interim Construction Loan. Such Binder will be released for a regard to one year. The original Binder may be extended for six (6) extra consecutive durations of six (6) months each, not to surpass thirty-six (36) months. A premium of $25.00 will be charged for each consecutive six (6) month extension. 2. Upon subsequent issuance of: 1. a Mortgagee Policy on a loan to completely use up, restore, extend or satisfy a lien already 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 encumbered by a lien covered by a Mortgagee Title Policy Binder on Interim Construction Loan and which lien against the conveyed residential or commercial property is launched prior to or synchronised with the sale, the premium for the new policy shall be at the fundamental rate, but a credit for the premium paid for the Binder will be permitted to the buyer of the Owner's Policy as follows: Fifty percent (50%) of the premium spent for the Binder (special of extensions), if the subsequent policy is released within one (1) year from the date of the original Binder.

Where more than one Policy might be issued on a portion of the residential or commercial property covered by the Binder, only one credit shall be enabled, being on the very first Policy released.

This Rule shall not use to any Binder released prior to March 1, 1989, in which case no credit is allowed.

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

The fifty percent (50%) credit will not use if the Binder covers genuine residential or commercial property which is being enhanced for improvements besides one to four 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 very same directly 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 gotten stated residential or commercial property be factor of its assurance or endorsement of a mortgage insured by a Mortgagee Policy, and is offering very same, an Owner Policy might be provided on stated sale, or a Mortgagee Policy might be provided on a lien being maintained in the deed conveying said residential or commercial property. If only an Owner Policy is issued, the charge for that reason shall be at the Basic Rate on the total of the factor to consider of said sale. If only a Mortgagee policy is provided, the Basic Rate on the full quantity of the lien shall be charged. In either case, the credit of $15.00 on the entire deal shall be permitted. In the occasion an Owner Policy and a Mortgagee Policy are provided all at once on a transaction as offered in Rule R-5, the synchronised concern rate, in addition to the credit enabled by this guideline, will use. The $15.00 credit allowed by this guideline shall not use till the providing Company is provided the following:

1. At the time the policy or policies are ordered, the seller will send to the Company, for its assessment and usage, such proof as is offered in the seller's files, consisting of the Mortgagee Policy covering the lien foreclosed, revealing title vested in such seller. This title proof need to be retained in the files of the Company for future referral in case a claim develops under the indemnity arrangement set forth in paragraph "b" hereof.