CLTA Assignment Endorsement Guideline 104A

Explanation:

Provides the assignee of a mortgage or a deed of trust insured under a CLTA Standard Coverage Policy with assurances concerning (a) the validity of the assignment to evidence the transfer of the entire beneficial interest to the named assignee; (b) subsisting real property tax or assessments liens; (c) matters affecting the validity or priority of the insured mortgage or deed of trust lien; and (d) federal tax liens or bankruptcy proceedings affecting title to the estate or interest covered by the policy.

Underwriting Requirements:

DO NOT ISSUE THIS ENDORSEMENT(S) IF THERE ARE MULTIPLE BENEFICIARIES UNLESS YOU SECURE THE APPROVAL OF A STEWART SENIOR UNDERWRITER.

(1) This endorsement requires the following:
     (a) If an original note for examination purposes has not been furnished or if the original note is not properly endorsed to the assignee, the CLTA 104.9 Endorsement must be used.
     (b) A general index search of the assignor and all intervening assignors for federal tax liens, bankruptcies, incompetencies, etc;
     (c) A tax and assessment search;
     (d) A search for mechanic's liens, reconveyances, modifications, inconsistent assignments, subordinations, and all other matters affecting the validity or priority of the lien of the deed of trust or mortgage; and
     (e) A name search of the property owner.

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 Assignment of Mortgage Endorsement (06-03-05) 104.A