Guideline: ALTA Endorsement JR2 (Future Advance) Revised 08-01-12

Explanation:

The ALTA Endorsement JR 2 endorses the ALTA Residential Limited Coverage Junior Loan Policy to provide insurance as to future advance provisions and provisions providing for changes in the rate of interest in the insured's mortgage.

Underwriting Requirements:

You must issue the ALTA Endorsement JR 1 in order to issue the ALTA Endorsement JR 2. You may issue the ALTA Endorsement JR 2 when you issue the ALTA Endorsement JR 1, if you describe the insured's mortgage in the ALTA Endorsement JR 1. If your state law requires that the mortgage contain specific language (such as a heading) in order to secure future advances and/or changes in the rate of interest, verify that the mortgage contains the required language. You do not need to attach ALTA Endorsement JR 2 to the ALTA Residential Limited Coverage Junior Loan Policy or to ALTA Endorsement JR 1 unless the insured requires that this Endorsement be attached; you may simply mark the Box in Paragraph 5 of ALTA Endorsement JR 1. 

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.

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 JR2 (Future Advance) Revised 08-01-12