Title Insurance Policies in Pennsylvania

Overview

• Pennsylvania is a rating bureau state. WFG is a member of the Title Insurance Rating Bureau of Pennsylvania ("TIRBOP"). The Rate Manual and its contents are filed with and approved by the Pennsylvania Insurance Department. The Rate Manual covers all forms and all Rates up to $30 million.
• Usury, Truth-in-Lending, Zoning, Creditors Rights, Doing Business, INTERstate Tie-In, and Subdivision coverages are not available in Pennsylvania (as of 6/15/23).
• Who can sign Commitment/Policy -- Pennsylvania Licensed Producer

The Rate Manual

The Rate Manual, with approved forms and Endorsements, can be found at: http://patitleratingbureau.org/tirbop-rate-manual/

Title Insurance Commitments

Commitments are NOT filed forms in Pennsylvania. However, WFG has required the usage of the 2021 ALTA Commitment form, available on the Underwriting website, and distributed to all major software vendors.

Title Insurance Policies

Policies are filed forms in Pennsylvania. Only approved Policies can be issued under the requirements of the Rate Manual. PA policies are a modified versions of the 2006 ALTA policies (modified 2021 ALTA policies after April 1, 2023). PA has omitted survey coverage from the policy and requires such coverage to be purchased by endorsement.

Extended Coverage

Approved for use by members of TIRBOP in Pennsylvania (as of 4/16/24) are:

• ALTA Homeowners Policy (for a One-to-Four Family Residence) – as modified by TIRBOP (07/01/2021 TC 09/21/2021)
• Expanded Coverage Residential Loan Policy – Current Assessments (for a One-to-Four Family Residence) – as modified by TIRBOP (07/01/2021)
• Short Form Expanded Coverage Residential Loan Policy – Current Assessments (for a One-to-Four Family Residence) (07/01/2021)

Title Insurance Endorsements

Endorsements are filed forms in Pennsylvania. Only approved Endorsements can be issued under the requirements of the Rate Manual, and cannot be altered. Affirmative risk coverages not contained in the Manual can be provided by general endorsement (see Section 2.4), however some coverages are specifically prohibited: Truth-in-Lending; Zoning; Creditors Rights; Doing Business; Usury; Tie-In INTERstate; Subdivision (see Section 6.27).

Title Insurance Rates

Rates are set by the Rate Manual. Pennsylvania is an "all-inclusive rate" State. The charge includes the cost of the search, title examination, escrow and settlement services and the insurance risk assumed by the insurer. Some supplemental charges are authorized by the Rate Manual. See TIRBOP Website and Rate Manual Sections 2 & 3. Endorsement charges are also set forth in the Rate Manual.

Title Insurance Waiver

In a purchase transaction where a mortgage is being simultaneously insured, an owner's policy must be issued unless waived in writing in accordance with 31 Pa. Code 126.1. See Rate Manual Section 5.2(D), 5.3(D), 5.9(F).