Guideline: NM 74 - Doing Business Endorsement

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 be issued 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 and has registered or is qualified to do business in New Mexico. Otherwise, you must secure approval of a Stewart Title Guaranty Company underwriter 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):

NM Form 74 Doing Business Endorsement (ALTA Form 24-06, 10-16-08)