There are two versions of Missouri Title Insurance Premium ...



Missouri Title Insurance Premium Calculator

User Instructions and General Information

Prerequisities:

• Windows 2000 or Windows XP. (It is probable that the program will also install and run correctly under Windows Vista, but that situation has not been thoroughly tested.)

• In order to view and print a Missouri T-1 Disclosure Statement, the user must have MS Word available on the desktop.

Installation: Accept the default installation directory as proposed by the installation program, or the program will not run correctly. The program may be installed directly from a web site, or downloaded to a desktop and installed from that location, or installed from a CD if one is being provided. After installation, the program is accessible from the Windows Start menu.

First Use, and Setups:

• When the program is started for the first time, it is necessary to accept the terms of the End-User License Agreement in order to use the application. This is accomplished by scrolling to the end of the agreement, and clicking on the appropriate button.

• Before use as a calculator, set up the underwriters you wish to use, their default ICL/CPL charge, their default simultaneous issue premium charge, and whether an underwriter is the default for your office. These setups are accomplished by clicking the “Underwriter Setups” button.

• Also set up your company (and branch) office information by clicking on the “Agent/Branch Setups” button. Only include up the offices that you intend to actually print on the T-1 Disclosure Statement.

General Use Information:

The program may be used as a premium calculator only, or also to produce the T-1 form following completion of a premium calculation.

If a T-1 is produced, the program will start an instance of Microsoft Word, and open and populate a template with the data you enter on the Disclosure Statement setup screen. The Disclosure Statement can be printed, emailed from Word (if you have the appropriate applications on your desktop that interact with Word), or saved to a file for attachment to a message in a different email system. (Note that you are sending a document editable by the receiving party when you send the Disclosure Statement by email.)

If you wish to save a copy of the Disclosure Statement for reference purposes, you will have to perform a “Save As” operation on the document, and save and name it in the location of your choice.

You may use the “File Number” field on the document for any data you choose, such as a street address.

Title Service Charge (TSC) Calculation Module

General Use Information:

The TSC module is embedded in MTIPC versions 2.x and later.

If you already have version 1.0 installed on your PC, you must remove it using Windows Control Panel | Add/Remove Programs prior to installing version 2.x (or later). Disregard any error messages that might occur during the deletion operation.

Setup Security:

The setups for the TSC module are password (PIN) protected to insure that your rate setups are not modified inappropriately. The PIN should remain confidential, and available only to persons entrusted with setting up the rate names and tables. The PIN is available from the agency representative that is assisting you with the program. The PIN cannot be modified.

Rate Name Setups:

When you first enter the rate setups, you will see that one rate name (“Primary Policy Rate”) has been installed with the system. It has been assigned to the default rate type, which uses a rate table to calculate the Title Service Charge (TSC) based on the liability of the policy.

You may add as many additional rate names (individual rates) to the system as you wish, and assign them as either a rate-table type, or as a flat-rate type. By default, a new rate name is established in the rate-table category. Changing the rate type of a rate name to be based on a “flat rate” (instead of a table rate) is accomplished by clicking in the “Use flat rate” check box in the rate name setups, and then entering the flat rate amount you wish to assign to that rate name. Unchecking the box will return the rate name to be based on a table-type rate. (The “Wiggle” amount is explained later in these instructions. You may return to the rate-name setups and make an entry in the Wiggle box once you understand what it is used for.)

You should add rate names in cases where you may have different TSC rates for different policy or product types (e.g., refi’s, second mortgages, reissue situations, etc.) or perhaps different rates based on county locations (or, for any reason you choose !).

In setting up rate names, the “Sort Order” entry determines the order in which the various rate names appear in the drop-box on the main MTIPC screen.

It is suggested that you carefully set up and test each rate name you establish before adding others to the program.

Rate Table Setups:

As mentioned above, a rate name of “Primary Policy Rate” was installed with the system. It is assumed that this rate will be used as your default rate for most transactions. You may of course edit this rate name.

You will need to fill-in the values in the rate table according to the brackets and related charges you wish to make as the TSC, based on the liability of the policy. You may add, edit, and delete brackets as necessary on the rate table setup screen. If you wish to give your users freedom to negotiate a rate, enter a value in the “Wiggle” column for each bracket. This wiggle amount would be the dollar amount that your users could reduce the rate-table TSC without obtaining management permissions when giving out rate quotes. If you do not wish to permit “wiggle”, enter zeros in the wiggle fields.

If you select a rate-table scheme for a rate, you may set up the rate using a flat fee for each bracket that you establish (default), or you may establish a table based on “dollars per thousand of liability” by clicking on the appropriate box on the “Title Service Charge - Rate Table Setup” screen. If you elect to use the “dollars per thousand” scheme, then your Title Service Charge will be calculated based on the actual liability of the policy, rounded up to the next higher thousand dollars.

To most easily become familiar with constructing a rate table, you may wish to make 5 or 6 bracket entries, and then click on the “Validate Brackets” button on the lower right of the setup screen. This button will cause a number of tests to be performed on your brackets (the bracket amounts only…”L” and “U”…and identify any errors. When you are completely finished setting up your brackets (and validating them again), you should then test your rates by entering a sample liability in the box in the testing area on the right side of the screen, and clicking on the “Test Calcs” button. Make certain that the correct rate and wiggle for the liability entered is then displayed in the “R”ate and “W”iggle boxes in the test area. Test as many of the brackets as you desire to be certain that your table is set up and calculating in the manner that you wish.

Multiple PC Installations Using the Same Setup Information:

After all branches, underwriters, and rate names and tables are completely set up and tested on one PC, it is possible to easily install these identical setups on additional PC’s without going through the entire setup process again.

After the basic MTIPC is installed on the additional PC’s, copy the file c:\program_files\MORiskRate\MORiskRate.mdb to a CD or floppy or a zip drive (or whatever), and then copy it from the media to the same directory on the additional PC’s. All setups made on the initial PC will then be available on the additional PC’s.

It is perhaps easiest to install the program on all PC’s, make the setups on one of them, and then copy the file as explained above

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