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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 asked for, subsequent to the issuance of an Owner Policy which excepted to the Vendor's Lien, the premium shall be one-half the Basic Rate. The lien to be guaranteed need to be as originally created, and excepted to in the Owner Policy, and not an extension or rearrangement thereof. Such Mortgagee Policy( ies) will be issued in the quantity of the current unpaid balance of stated indebtedness. The Company shall be provided such proof as it might require confirming such overdue balance, that the indebtedness is not in default and that there has been no acceleration 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 apportioned to specific units in connection with a master policy covering the aggregate insolvency, consisting of improvements. Individual Mortgagee Policies should be released at the Basic Rates.

2. Subsequent to Mortgagee Policy - When a Mortgagee Policy( ies) is requested, for any reason whatsoever, on a lien already covered by an existing Mortgagee Policy( ies), but not on a renewal or extension thereof, the new policy remaining in the quantity of the current unpaid balance of the indebtedness, the premium for the new policy will be at the Basic Rate, however a credit for three-tenths (3/10) of stated premium might be allowed. 3. Subsequent to Mortgagee Policy - When an insolvent insurance company is put 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 said insolvent insurance company, however not on a loan to take up, renew, extend or please an existing lien, the brand-new policy being in the quantity of the current unpaid balance of the insolvency, the premium for the new policy shall be at the basic rate, but a credit for one-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 will be the minimum Basic Rate. The insured shall give up the existing Mortgagee Policy( ies) to the Company when placing the order for a new Mortgagee Policy( ies). The date of Policy for the brand-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 issued on a First Lien, and other policy( ies) is released on Subordinate Lien( s), produced in the same deal, 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 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 issued on a loan that totally takes up, renews, extends, or satisfies one or more existing liens that are already insured by several existing Loan Policies, the brand-new Loan Policy should be in the amount of the note of the new loan. The premium for the brand-new Loan Policy is decreased by a credit. The credit is calculated as follows:

1. Calculate the Basic Premium on the written payoff balance of the existing loan or the original amount of that loan, whichever is less; and 2. Multiply by the portion below for the time from the existing Loan Policy date to the brand-new Loan Policy date: 1. 50% when four 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; 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 included in the Policy.

When the existing Loan Policy( ies) consisted of more than one chain of title, and the new Loan Policy also 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 "additional chain.")

When 2 or more brand-new Loan Policies are released on numerous loans to fully 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 determined above should be applied to the premium for the biggest Loan Policy. A credit should be offered even if not all of the new loans are insured or if only among the brand-new loans is insured.

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

R-9. Additional Chains of Title

In the occasion more than one chain of title is associated with the issuance (consisting of decision of insurability of access) of any policy, the Company will charge the minimum policy Basic Premium Rate for each additional chain. For purpose of applying this guideline, adjoining parcels of land in one county shall be dealt with 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 different 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 very same owner, then such shall be treated as one chain. If the parcels of land lie in more than one county, there are different chains of title in each county. No additional chain charge may be produced determination of insurability of access to land located within a neighborhood, provided: (i) the subdivision lies in only one county, and (ii) the plat of the subdivision has actually been legally authorized by a licensed governmental entity, is properly recorded, and the roads shown thereon have actually been dedicated for public usage or for using 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, reliable September 1, 2013, due to obsolescence.

Effective January 3, 2014 (Order 2806)

R-11. Loan Policy Endorsements

Applicable just as supplied in Procedural Rule P-9.

Assignment of Mortgage Endorsement (Form T-3, Endorsement Instruction III): If released 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 extra complete or partial twelve-month period. However, the optimal premium collected should not be more than 50% of the premium for the loan policy quantity 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 released 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 duration. However, the optimal premium gathered should 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 additional premium is charged for the Loan Policy since 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 released 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 numerous Planned Unit Development Endorsements (Form T-17) are provided all at once on numerous Loan Policies covering the same land, the premium for the first recommendation 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 only as offered in Rule P-18 - The Commitment for Title Insurance will bear no premium in addition to the premium chargeable for the policy or policies released pursuant thereto, except that this Rule R-12 shall 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 only as offered in Rule P-16 - A premium charge of a quantity equivalent to the minimum policy Basic Premium Rate shall be produced issuance of each Mortgagee Title Policy Binder on Interim Construction Loan. Such Binder shall be issued for a regard to one year. The original Binder might be extended for six (6) additional consecutive periods of six (6) months each, not to go beyond thirty-six (36) months. A premium of $25.00 will be charged for each successive six (6) month extension. 2. Upon subsequent issuance of: 1. a Mortgagee Policy on a loan to totally take up, renew, 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 overloaded by a lien covered by a Mortgagee Title Policy Binder on Interim Construction Loan and which lien versus the communicated residential or commercial property is launched 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 shall be permitted to the purchaser of the Owner's Policy as follows: Half (50%) of the premium paid for the Binder (exclusive of extensions), if the subsequent policy is released within one (1) year from the date of the initial Binder.

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

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

Notwithstanding the provision in Rate Rule R-1, it shall 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 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 enhanced for enhancements other than one to four property 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 might be altered from time to time, has actually acquired stated residential or commercial property be factor of its guarantee or endorsement of a mortgage insured by a Mortgagee Policy, and is offering same, an Owner Policy may be issued on stated sale, or a Mortgagee Policy may be issued on a lien being maintained in the deed communicating said residential or commercial property. If only an Owner Policy is released, the charge for that reason shall be at the Basic Rate on the total of the consideration of said sale. If only a Mortgagee policy is provided, the Basic Rate on the total of the lien will be charged. In either case, the credit of $15.00 on the whole deal will be permitted. In case an Owner Policy and a Mortgagee Policy are provided at the same time on a deal as provided in Rule R-5, the synchronised issue rate, in addition to the credit allowed by this guideline, shall apply. The $15.00 credit allowed by this guideline shall not apply until the issuing Company is provided the following:

1. At the time the policy or policies are bought, the seller will send to the Company, for its examination and use, such proof as is offered in the seller's files, consisting of the Mortgagee Policy covering the lien foreclosed, showing title vested in such seller. This title evidence need to be kept in the files of the Company for future referral in case a claim emerges under the indemnity agreement set forth in paragraph "b" hereof.