Guideline: ALTA Endorsement 24-06 (Doing Business)

Explanation:

This endorsement insures against unenforceability of the lien of the insured mortgage because making the loan violated doing business laws of the state in which the land is located.

Underwriting Requirements:

This endorsement may not be issued without approval from Stewart underwriting personnel.

This endorsement may be issued where available, except in the states of Alabama, Ohio, or Vermont, if the insured (and the original lender if a different person) is a foreign corporate financial institution in good standing in its state of domicile. Otherwise, you must secure approval of underwriting personnel to provide this coverage.

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 Endorsement 24-06 (Doing Business) (10/16/08)