5.6 MORTGAGE LOANS
A. When a loan policy is to be issued within four years of the date of the previously insured mortgage or fee interest, and the premises to be insured are identical to, or part of, the real property previously insured, and there has been no change in the fee simple ownership, the Charge for the loan policy shall be calculated in accordance with subparagraph B below. Evidence of previous insurance in accordance with the provisions of Section 2.8 of this Manual must be considered in order to apply this Charge. Insurer shall comply with the written notice provisions of Section 2.9.
The provisions of this Section are not applicable to the Approved Attorney Procedure.
B. The Charge for the loan policy shall be calculated in accordance with the following applicable rates:
Up to 2 years.....................................................................70% of reissue rate
Over 2 years to 4 years...................................................80% of reissue rate
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