Guideline: ALTA Commitment (Short Form)

Explanation:

This Commitment may be used when you commit to issue an ALTA Short Form Residential Loan Policy (06/16/07) or ALTA Short Form Expanded Coverage Residential Loan Policy (01/01/08. It incorporates by reference the terms and conditions of the ALTA Plain Language Commitment (06/17/06).

By agreeing to issue the Short Form Loan Policy, this commitment incorporates the standard Schedule B exceptions of such policy, and avoids any need to refer to subdivision restrictions, minerals or easements, unless they would be shown in an Addendum to the Short Form Loan Policy. This commitment is designed to refer only to Loan Policies, and issuance of this Commitment should be limited to Short Form Loan Policies only.

Underwriting Requirements:

1. Issue only if the land is one-to-four family residential property.

2. Do not issue this Commitment if you are committing to issue an Owner's Policy; instead issue your regular Commitment.

3. Paragraph 4 of Schedule A should show both the Property Address (if then known) and the Legal Description.

4. Schedule B should show any existing liens that are to be paid and released.

5. You do not need to add a Schedule B - Section II, unless you will insure a subordinate mortgage (in which case the superior mortgage should be shown in Schedule B - Section II) or unless your examination discloses a matter other than your normal restrictions, minerals and easements and that matter would be shown as an exception in the Addendum to the Short Form Loan Policy according to our applicable guidelines.

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):

ALTA Short Form Commitment Revised (10/16/08)