CO Collateral Assignment Endorsement Guideline 104.3
Explanation:Provides the collateral assignee of a mortgage or deed of trust insured under an ALTA Loan Policy with assurances concerning the validity of the assignment to evidence the transfer of the entire beneficial interest to the named assignee as collateral security.
Underwriting Requirements:(1) This endorsement is to be utilized for collateral assignments of the deed of trust or mortgage.
(2) The liability under this endorsement is limited to the obligation amount of the transfer being made or the amount of the obligation being assigned, whichever is the lesser amount.
(3) A review of the original note and deed of trust must be made in order to preclude conflicts between the record assignor and true owner of the note.
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):