T-3 Guideline - TX Assignment of Lien Endorsement

Explanation:

This endorsement is issued to institutional and conventional lenders to insure the assignment of a lien.

Underwriting Requirements:

(1) This endorsement may only be issued on 1-4 family residential property if the assignee is FNMA, GNMA, VA, or HUD.

(2) Conventional lenders on commercial property or vacant subdivision acreage can also obtain the assignment endorsement.

(3) This endorsement is issued on Form T-3 pursuant to Endorsement Instruction III.

(4) The charge for this endorsement is the minimum basic rate of $229.

(5) The endorsement may show a collateral assignee as an additional insured if it also shows the collateral assignor ("as their interests may appear") and excepts to the terms of the collateral assignment.

(6) The endorsement may also insure current ownership of the insured property if requested by the insured by stating "The Company insures the insured against loss, if any, sustained by the insured under the terms of the policy if _______________is not the owner of the title to the estate of interest in the land described in Schedule A of the policy".

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 Assignment of Lien Endorsement