T-3 Guideline - TX Date Down Interim Construction Loan Endorsement

Explanation:

The down date endorsement to the mortgagee policy is issued during construction. It insures against recorded mechanic liens which are not otherwise excepted to in Schedule B of the mortgagee policy.

Underwriting Requirements:

(1) The date down endorsement to the Mortgagee Policy (Endorsement Instruction V) and the Date Down Endorsement to the Binder (Endorsement Instruction VII) are issued for a $50 premium charge.
(2) The title agent must down date the records. Off record matters such as surveys, etc. not evidenced by a recorded lien.
(3) If we comply with Procedural Rule P-11 (insuring around) and receive an adequate escrow, bond or indemnity.

The underwriting guidelines contained herein have been provided for general reference. The facts, circumstances, and location of the subject property should be considered when determining the issuance of the requested form or endorsement. Please note that all of the forms and endorsements included in this system may not be available in all states. Accordingly, please contact the appropriate Stewart Title Guaranty Company underwriting personnel in order to determine availability.

Compliance with the underwriting guidelines contained herein in no way obligates Stewart Title Guaranty Company to issue any form or endorsement.

This guideline applies to the following form(s):

T-3 TX Date Down Interim Construction Loan Endorsement