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FAQ: Rates


How would I find the percent when a rate is $.75 per $500?

Divide 500 by .75 to get the percent for every 1000.  Then convert that decimal to a percent.

How are R-8 rates calculated?

Taking the principal balance on a current loan and finding the current premium rate, calculating the credit based on the age of the outstanding policy. That credit is then applied to the new premium. For example, on the Reissue table, adding 100% of the basic rate, then subtracting xx% of the prior calculated rate, the xx% is based on how old the prior was.  

What rate table is being used to calculate this rate?

When you are on the File/Settlement Fees/Title Charge panel, highlight the fee line and click on the Title Premium Rates button on the right. This will display the rate table being used to calculate the premium.

I don’t have a Lender Basic Rate on my underwriter, why is my Lender’s Coverage total recalculating? / I don’t have an Owner Basic Rate on my underwriter, why is my Owner’s Coverage total recalculating?

Please check in Admin > Settlement Type Defaults > (Select your Settlement Statement Version) >
Lender’s Coverage (SettlementTypeID: 1111) / Owner’s Coverage (SettlementTypeID: 1112) > Property >
SalesTaxCalculation (SettlementTypePropertyID: 69).
If this property is enabled, Resware may be adding sales tax to your Lender’s / Owner’s Coverage lines.

Updated on April 20, 2022

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