The New York Department of Financial Services published Regulation 208, Title Insurance Rates, Expenses and Charges, in October 2017.
As part of the regulation, a uniform 5% rate reduction will be effective for all title policies (owner’s and loan) issued on or after February 15, 2019. In order to calculate a rate reflecting the 5% reduction for a closing on or after February 15th, you will need to request a revised invoice for all title commitments created prior to February 15, 2019.
The newly released TIRSA Rate Manual effective February 15, 2019 can be found here.
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