ALTA Endorsement 6 (Variable Rate Mortgage) (7-1-21)
This Endorsement is Issued as Part of Policy Number ______________________
Stewart Title Guaranty Company
File No.: ______________________
1. As used in this endorsement, “Changes in the Rate of Interest” mean those adjustments in the rate of interest calculated pursuant to the formula provided in the Insured Mortgage or the loan documents secured by the Insured Mortgage at the Date of Policy.
2. The Company insures against loss or damage sustained by the Insured by reason of:
a. the invalidity or unenforceability of the lien of the Insured Mortgage resulting from Changes in the Rate of Interest.
b. the loss of priority of the lien of the Insured Mortgage as security for the unpaid principal balance of the loan, together with interest as changed in accordance with the provisions of the Insured Mortgage or the loan documents secured by the Insured Mortgage, which loss of priority results from Changes in the Rate of Interest.
3. This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys’ fees, or expenses, based upon usury law or Consumer Protection Law.
Copyright 2006-2022 American Land Title Association. All rights reserved. The use of ALTA Forms, ALTA Reference materials, and any derivative materials or any section of provided ALTA text are restricted to ALTA licensees and ALTA members in good standing as of the dates of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.
For issuing guidelines on this form, see Guidelines.