Effective November 1, 2024 (Order 2024-8851)
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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 should be as originally created, and excepted to in the Owner Policy, and not an extension or rearrangement thereof. Such Mortgagee Policy( ies) will be provided in the quantity of the current unsettled balance of said indebtedness. The Company shall be provided such evidence as it may require confirming such unpaid balance, that the insolvency is not in default which there has 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 allocated to private systems in connection with a master policy covering the aggregate insolvency, consisting of enhancements. Individual Mortgagee Policies must be provided at the Basic Rates.

2. Subsequent to Mortgagee Policy - When a Mortgagee Policy( ies) is asked for, for any factor whatsoever, on a lien currently covered by an existing Mortgagee Policy( ies), but not on a renewal or extension thereof, the brand-new policy remaining in the amount of the present overdue balance of the insolvency, the premium for the brand-new policy will 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 long-term receivership by a court of skilled jurisdiction and a Mortgagee Policy( ies) is requested on a lien currently covered by an existing Mortgagee Policy( ies) of said insolvent insurance company, but not on a loan to use up, renew, extend or satisfy an existing lien, the new policy remaining in the quantity of the existing unsettled balance of the insolvency, the premium for the new policy will be at the standard rate, but a credit for half of stated premium will be enabled, 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 give up the existing Mortgagee Policy( ies) to the Company when positioning the order for a new Mortgagee Policy( ies). The date of Policy for the new policy( ies) shall be the 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 First Lien, and other policy( ies) is provided on Subordinate Lien( s), produced in the exact same deal, covering the exact same land or a part thereof, the premium for the First Lien policy shall be calculated on the total of the combined liens; the premium for each Subordinate Lien policy will 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 released on a loan that totally uses up, renews, extends, or satisfies several existing liens that are currently insured by one or more existing Loan Policies, the new Loan Policy should be in the amount of the note of the brand-new loan. The premium for the new Loan Policy is decreased by a credit. The credit is computed as follows:

1. Calculate the Basic Premium on the written reward balance of the existing loan or the initial quantity of that loan, is less; and 2. Multiply by the percentage 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 4 years but less than 8 years; or

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

The credit does not apply 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 also includes several of the original chains of title, the minimum Basic Premium needs to 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 provided on several loans to completely use up, renew, 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 used to the premium for the biggest Loan Policy. A credit needs to be given even if not all of the new loans are guaranteed or if just one of the new loans is guaranteed.

THIS RULE MAY NOT BE APPLIED in connection with the issuance of a series of Loan Policies issued by reason of notes being assigned to individual units in connection with a master policy covering the aggregate insolvency, including improvements. Except as otherwise offered in this rule, specific 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 (including decision of insurability of gain access to) of any policy, the Company shall charge the minimum policy Basic Premium Rate for each extra chain. For function of using this guideline, adjoining parcels of land in one county will 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 separate chain, other than where 2 or more lots in the very same platted subdivision, and having the same plat recording date, belong to the exact same owner, then such will be treated as one chain. If the tracts depend on more than one county, there are different chains of title in each county. No extra chain charge might be made for decision of insurability of access to land situated within a neighborhood, offered: (i) the neighborhood lies in just one county, and (ii) the plat of the subdivision has been lawfully authorized by an authorized governmental entity, is duly tape-recorded, and the roadways revealed thereon have been dedicated for public usage or for using 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, efficient September 1, 2013, due to obsolescence.

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 provided 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 full or partial twelve-month period. However, the maximum premium gathered must not be more than 50% of the premium for the loan policy amount based upon the present 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 collected need to not be more than 50% of the premium for the loan policy amount 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 because 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 issued 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 simultaneously on multiple Loan Policies covering the exact same land, the premium for the very first endorsement is $25.00 and the premium for additional endorsements is $0.00. Title Manual Main Index|Section III Index

R-12. Commitment for Title Insurance

Applicable just as offered 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 use to any commitment for title insurance provided 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 offered in Rule P-16 - A premium charge of an amount equivalent 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 initial Binder may be extended for 6 (6) extra successive durations of six (6) months each, not to exceed thirty-six (36) months. A premium of $25.00 shall 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 communicated residential or commercial property is released prior to or synchronised with the sale, the premium for the brand-new policy will be at the standard rate, however a credit for the premium spent for the Binder will be permitted to the buyer 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 original Binder.

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

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

Notwithstanding the arrangement in Rate Rule R-1, it will be permissible to integrate this guideline with Rate Rule R-5 in the estimation of the premium for a Policy. In no occasion will the premium collected be less than the routine minimum promulgated rate for a Mortgagee Policy.

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

Title Manual Main Index|Section III Index

R-14. Foreclosed Properties

When the owner of the residential or commercial property has actually gotten very same straight through foreclosure under a mortgage guaranteed by a Mortgagee Policy, or the Secretary of Housing and Urban Development or the Administrator of Veteran's Affairs, or as their names might be changed 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 same, an Owner Policy might be provided on stated sale, or a Mortgagee Policy may be released on a lien being maintained in the deed communicating said residential or commercial property. If only an Owner Policy is provided, the charge for that reason shall be at the Basic Rate on the total of the factor to consider of said sale. If just a Mortgagee policy is issued, the Basic Rate on the total of the lien will be charged. In either case, the credit of $15.00 on the whole transaction shall be permitted. In case an Owner Policy and a Mortgagee Policy are issued at the same time on a transaction as supplied in Rule R-5, the simultaneous issue rate, in addition to the credit permitted by this rule, will use. The $15.00 credit enabled by this guideline shall not apply till the issuing Company is provided the following:

1. At the time the policy or policies are ordered, the seller will transfer to the Company, for its examination 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 proof need to be retained in the files of the Company for future recommendation in case a claim develops under the indemnity arrangement stated in paragraph "b" hereof.