Standard Solutions, Inc.       Spring, 2005       www.standardsolutions.com

Tips and Pointers:
Updating Title Insurance Rates

 

Also in this issue:
Where's your data?
Standard Conveyancer™ "Update" Update
Technically Speaking: Viruses and Spyware
Title Insurance Rate Increases
Getting your house in order

Virtually all of the title insurance companies have recently raised their Massachusetts rates. If you have not yet updated your Standard Conveyancer™ with the new rates, you should do so immediately.

Massachusetts title insurance rates are data in your Standard Conveyancer™. As with other data (i.e., your lender data) your title insurance rates are not part of the program and therefore must be updated by the user. To quickly and easily update your Massachusetts rates, you can use the instructions below (from the link on our Client Resources page at www.standardsolutions.com). Any changes you make will take effect for your entire office. As always, please call if you need any assistance.

The First American New Hampshire rate increase from October 2004 requires a program table update. This update has been available for download since that time on the Program Updates page at www.standardsolutions.com.

1. Click the Info menu, then Title Insurers (Standard Conveyancer for DOS users, choose Title Insurers on Main Menu).

2. On the "Title Insurer/Rates" screen, click List, and select the title insurance company for the state you need to change or review. Verify or enter the underwriter's address and your commission split.

3. On the "Title Insurer/Rates" screen, click Formula to get to the "Title Rate Formula" screen. Enter the rates per $1000, the simultaneous issue fee, the plan waiver (survey affidavit) fee, the maximum coverage amount, and any other rate information you have.

4. Click OK on all screens to save changes.


Standard Solutions, Inc.
www.standardsolutions.com          www.closingexperience.com
Tel: 781-324-0550         Fax 781-324-9166