STG Collateral Assignment Endorsement Guideline 1
Explanation:This endorsement simply acknowledges that the collateral assignee of the note secured by the insured mortgage will be an insured if the collateral assignee forecloses its security interest and acquires the note.
Underwriting Requirements:(1) A Senior Underwriter must approve issuance of this endorsement.
(2) This endorsement is issued in lieu of insuring the collateral assignment in Schedule A. The Collateral Assignment will be reflected by a recorded instrument and perfected by possession of the promissory 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):