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 guaranteed must be as initially developed, and excepted to in the Owner Policy, and not an extension or rearrangement thereof. Such Mortgagee Policy( ies) shall be issued in the quantity of the existing overdue balance of said insolvency. The Company will be furnished such proof as it may need confirming such unsettled balance, that the indebtedness is not in default and that there has actually been no acceleration of maturity. THIS RULE MAY NOT BE APPLIED in connection with the issuance of a series of Mortgagee Policies released by factor of notes being assigned to individual units in connection with a master policy covering the aggregate insolvency, including enhancements. Individual Mortgagee Policies should be issued 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), however not on a renewal or extension thereof, the brand-new policy being in the amount of the existing unpaid balance of the indebtedness, the premium for the brand-new policy shall be at the Basic Rate, but a credit for three-tenths (3/10) of said premium might be permitted.

1. Subsequent to Mortgagee Policy - When an insolvent insurance provider is placed 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 provider, but not on a loan to take up, renew, extend or satisfy an existing lien, the new policy remaining in the amount of the present unsettled balance of the indebtedness, the premium for the brand-new policy shall be at the fundamental rate, however a credit for one-half of stated premium will be enabled, unless such credit would lower the premium to less than the minimum Basic Rate, in which case the rate shall be the minimum Basic Rate. The insured will surrender 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) 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 released on a First Lien, and other policy( ies) is released on Subordinate Lien( s), developed in the same transaction, covering the very same land or a part thereof, the premium for the First Lien policy shall be computed on the total of the combined liens