Bulletin: OR2025001

Dear Associates:

This bulletin is sent to advise you of the most recent updated version of the OTIRO Rating Manual, which will become effective September 1, 2025, for all Oregon title insurance issuing offices. After September 1st, the new version of the Rate Manual can be found on the Oregon Land Title Website, https://oregonlandtitle.com/files/otiroratemanual.pdf.

Rate and/or Rule changes were made to Sections 1.008, 2.005, and 4.005 as noted below:

Section 1.008 Local Government Lien Searches; Other Additional Charges -

Government Search Fee premiums have been updated.

Section 2.005 is now known as the Residential Subdivision Rate -  

This section has been rewritten. The Rate is now available for an Owner’s Policy on a transaction where the seller is the insured by virtue of an earlier policy written within three years of the current transaction, provided:

• The seller has not leased or occupied the property since the certificate of occupancy was issued,
• The property is a one-to four family residential property,
• The property is located in a platted Subdivision or Condominium. 

Section 4.005 Limited Coverage Loan Policy, Form Variations & Related Endorsements

OTIRO increased the maximum coverage for a Limited Coverage Policy to $125,000 and increased the premium for it to $150. It clarified that the OTIRO 77 Endorsement may only be issued with the recording of the insured trust deed or mortgage. The premium includes one OTIRO 77 or 2-JR1 if it is issued within 90 days of the policy. There will be a $25 charge for an endorsement issued 90 days after the policy date or any additional endorsements.

OTIRO adopted a new policy form, added several new endorsements, revised endorsements, and withdrew several forms as follows:

New Forms:

PLL-03 - ALTA Residential Limited Coverage Junior Loan Policy 
OTIRO 2-JR1 - ALTA Endorsement Form JR1 (ALTA Residential Limited Coverage Policy Datedown) 
OTIRO 2-JR2 - ALTA Endorsement Form JR 2 (ALTA Residential Limited Coverage Junior Loan Policy Future Advance) 
OTIRO 242 - ALTA Endorsement Form 42 (Commercial Lender Group Endorsement) 

Revised Forms:

OTIRO 110 (Domestic Partner) 
OTIRO 203.3 - ALTA Endorsement Form 3.3 (Zoning - Completed Improvement - Legal Non-Conforming Use) 
OTIRO 214 - ALTA Endorsement Form 14 (Future Advance - Priority) 
OTIRO 214.3 - ALTA Endorsement Form 14.3 (Future Advance - Reverse Mortgage) 
OTIRO 242-06 - ALTA Endorsement Form 42-06 (Commercial Lender Group Endorsement)

The following forms were decertified by ALTA on 12-31-2022, and Fannie Mae stopped accepting 2006 policies as of 12-31-2023. OTIRO has now withdrawn them. This means they are no longer available for issuance in Oregon on files opened after 09-01-2025:

PO-04 ALTA Owner’s Policy - 2006
PL-05 ALTA Loan Policy - 2006
PL-06 ALTA Short Form Residential Loan Policy - 2006
PLO-03 ALTA Residential Limited Coverage Mortgage Modification Policy - 2014
C-03 ALTA Commitment for Title Insurance - 2016

NOTE: These rates/forms have been provided to third-party title production system (TPS) vendors. Please contact your TPS vendor or account services representative to have the new/revised rates/forms implemented in your system effective September 1, 2025.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.