CLTA Non-Merger Endorsement Guideline 107.11

Explanation:

This endorsement provides an ALTA lender with assurance against loss by reason of invalidity or unenforceability of the lien of the deed of trust or mortgage on the land following an apparent merger through lender acquisition (other than foreclosure) of an ownership interest in the land.

Underwriting Requirements:

(1) This endorsement may be requested where the lender also acquires a fee interest in the property, (an undivided interest, a joint venturer, a partner) and does not desire a termination of the deed of trust or mortgage.
(2) In order to issue this endorsement, there must be specific recitals in the deed of trust or mortgage and note which negate the possibility of any merger of interest.

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):

CLTA Non-Merger After Lender Acquires Title (06-03-05) 107.11