FL Additional Interest Endorsement Guideline 1
Explanation:This endorsement provides the same affirmative coverage as the Shared Appreciation Endorsement except that it relates to additional interest as opposed to shared appreciation. Mortgages requiring the payment of additional interest require payment to the lender of a percentage of income generated by the use or sale of the property. The formula must be contained in the mortgage.
Underwriting Requirements:In order for coverage to be provided, the formula used to calculate the additional interest must be contained in the mortgage.
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):